Ashville, 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 (2024) | 15,000 |
| Previous Population (2019) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 6.0 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Ashville, Manitoba is currently experiencing moderate growth. The median house price in the region stands at $500,000, with a year-over-year increase of 3.5%. This suggests a stable and growing market, potentially driven by favorable local economic factors and demand for housing. Similarly, the apartment sector shows a positive trend with the median price at $300,000 and an appreciation rate of 2.1% over the past year.
The population of Ashville has reached approximately 15,000 residents, with a significant growth rate of 7.1%. This demographic expansion is likely contributing to the increased demand for housing and could be indicative of a healthy local economy attracting new residents.
Investment Opportunities and Potential
The current trends indicate that Ashville is a promising locale for real estate investment. The steady increase in property values coupled with substantial population growth provides an opportunity for both short-term gains through property flips and long-term income via rentals. Specifically, investors should consider the growing demand for single-family homes in light of the median house price surge.
Apartments offer a more affordable entry point into the market and cater to a segment of the population that prefers renting or lower-cost housing options. With the slower yet consistent appreciation rate of apartments, investors might find them attractive for diversifying their portfolios and capitalizing on rental income.
Future Market Outlook
The future outlook for Ashville’s real estate market appears optimistic. Given the solid population growth trend and continued property value appreciation, it is reasonable to forecast ongoing demand for housing. If current economic conditions persist, such as employment opportunities and quality of life enhancements, Ashville could maintain its momentum in attracting new residents and investors alike.
However, potential investors should remain vigilant regarding any economic shifts or policy changes that may impact interest rates or housing affordability. Close monitoring of these factors will be crucial to making informed decisions about entering or adjusting positions within the Ashville real estate market.
