Balmoral, 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
The real estate market in Balmoral, Manitoba currently presents a steady growth trajectory. With a median house price of $500,000, the market has experienced a 3.5% year-over-year increase, indicating consistent appreciation in home values. The median apartment price stands at $300,000, with a slightly lower growth rate of 2.1% year-over-year. This suggests that single-family homes are potentially a more attractive investment for those looking for more significant appreciation.
The population of Balmoral has grown to 15,000 residents, reflecting a robust population growth of 7.1%. This increase in population is likely contributing to the demand for housing and can be seen as an indicator of the market’s overall health and sustainability.
Investment Opportunities and Potential
Investors considering Balmoral will find opportunities in both the single-family home segment and the apartment sector. Given the higher appreciation rate for houses, investors may prefer this option if they are seeking assets with greater capital growth potential. On the other hand, apartments offer a more accessible entry point into the property market due to their lower median price point.
The steady growth in property values, alongside the robust population increase, suggests that rental demand is likely to rise. Investors focusing on rental income could benefit from this trend by acquiring properties to cater to this growing demographic.
Future Market Outlook
The future outlook for Balmoral’s real estate market remains optimistic. Economic factors such as the strong population growth rate are expected to sustain demand for housing. Assuming no significant changes in local economic conditions or unforeseen global economic challenges, both housing prices and apartment values are likely to continue their upward trends.
However, it is important for investors to monitor interest rate changes, government housing policies, and broader economic indicators that may impact market dynamics. With careful analysis and strategic investment decisions, Balmoral’s real estate market can offer promising opportunities for both short-term gains and long-term investment stability.
