Bagot, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $325,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Bagot, Manitoba is currently experiencing a phase of moderate growth. The median house price in the area stands at $485,000, reflecting a year-over-year increase of 2.8%. This steady climb indicates a healthy demand for housing that aligns with the overall economic stability and consumer confidence within the region. Similarly, the median apartment price has reached $295,000, with an uptick of 1.9% compared to the previous year.
Bagot’s population has grown to approximately 15,500 residents, showcasing a notable growth rate of 3.3%. This demographic expansion suggests a burgeoning market with an influx of individuals and families seeking residence in Bagot, which may be contributing to the gradual elevation in property values.
Investment Opportunities and Potential
The consistent rise in property prices coupled with population growth presents a compelling case for investment opportunities within Bagot’s real estate landscape. Investors can anticipate potential capital gains given the upward trajectory of home values. Moreover, the growing population indicates a rising demand for rental properties, which could translate into attractive rental yields for those investing in apartments and family homes.
The market’s responsiveness to economic conditions means that strategic investments could benefit from both short-term revenue through rentals and long-term asset appreciation. As such, Bagot can be considered a promising locale for both seasoned real estate investors and those looking to enter the market.
Future Market Outlook
The future outlook for Bagot’s real estate market remains optimistic based on current trends and demographic shifts. If population growth continues at its present rate or accelerates further due to regional economic developments or migration patterns, the housing demand is likely to keep pace or even increase.
The gentle yet steady increase in property prices suggests a sustainable upward trend rather than a volatile spike that could lead to a correction. Investors and homeowners alike may find reassurance in this stability when considering long-term commitments in the Bagot real estate market.
In summary, while keeping an eye on external economic factors that could impact local and national real estate dynamics, stakeholders can maintain a cautiously positive outlook on Bagot’s market potential over the coming years.
