Austin, 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) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Austin, Manitoba is currently experiencing steady growth. With a median house price of $500,000 and an upward trend of 3.5% year-over-year, the market indicates a healthy demand for single-family homes. Apartment living is also on the rise, albeit at a slightly slower pace with a median price of $300,000 and a 2.1% increase year-over-year. The population of Austin has seen significant growth at 7.1%, which suggests an expanding local economy and potentially a burgeoning demand for housing.
Investment Opportunities and Potential
Given the steady house price appreciation, Austin presents promising investment opportunities, particularly in the single-family home sector. The continuous population growth implies sustained demand for housing, which should maintain upward pressure on property values. Apartments offer a lower entry point for investors at $300,000 with a positive appreciation trend, making them an attractive option for those looking to invest in rental properties or enter the real estate market.
Future Market Outlook
The future outlook for Austin’s real estate market remains optimistic. Population growth is often a precursor to increased housing demand, suggesting that both the median house and apartment prices may continue to see an upward trajectory. However, investors and homebuyers should monitor local economic indicators such as employment rates and new construction levels to gauge potential market fluctuations. Careful consideration of these factors will be crucial for making informed investment decisions in the Austin real estate landscape.
