Altona, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Altona, Manitoba, the real estate market is experiencing a period of steady growth. The median house price in the region currently stands at $500,000, reflecting a year-over-year increase of 3.5%. This consistent upward trend indicates a healthy demand for single-family homes, likely influenced by the town’s expanding population.
The apartment sector is also showing positive movement with the median apartment price at $300,000 and an annual appreciation rate of 2.1%. The slower growth rate compared to houses suggests that while there is interest in multi-family dwellings, the market for apartments is slightly less dynamic.
With a population of 15,000 that has grown by 7.1%, Altona is attracting new residents at a robust pace. This demographic expansion is contributing to the housing demand and underpinning the current positive market conditions.
Investment Opportunities and Potential
Investment opportunities in Altona are promising given the steady growth in both housing prices and population. The single-family home segment offers potential for capital appreciation due to its higher yearly growth rate. Investors looking to tap into this market could expect continued interest as more people move to the area.
Apartments present an opportunity for those interested in rental income or more affordable entry points into the real estate market. The consistent yet moderate growth rate in apartment prices suggests stability, which could be appealing for long-term investors seeking reliable assets.
The significant population growth not only boosts housing demand but may also lead to increased requirements for retail, commercial, and industrial spaces—presenting diverse investment possibilities beyond residential real estate.
Future Market Outlook
The future market outlook for Altona appears positive. Given the strong population growth and corresponding demand for housing, it’s reasonable to anticipate that both house and apartment prices may continue their upward trajectory. However, it will be important to monitor factors such as employment rates, economic development initiatives, and interest rates as they can significantly influence future market conditions.
Assuming that current trends persist and no major economic disruptions occur, investors can remain cautiously optimistic about the real estate market’s potential in Altona. Those considering entering the market should conduct thorough due diligence and consider engaging with local real estate professionals to navigate any complexities associated with regional investments.
