Balmoral, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.4% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Balmoral, Manitoba is currently experiencing steady growth. With a median house price of $520,000 and a year-over-year increase of 4%, the market shows signs of healthy demand. The apartment sector is also witnessing growth, albeit at a slightly lower rate of 2.5% year-over-year, bringing the median apartment price to $310,000. This consistent upward trend in property values suggests a stable investment environment for both residential homes and apartments.
The population of Balmoral has reached 15,500 residents and has been growing at a robust rate of 3.3%. This influx of residents may be contributing to the sustained demand for housing which, in turn, supports the upward trend in property prices. The local economy appears to be healthy and is likely supporting the real estate market’s positive trajectory.
Investment Opportunities and Potential
Considering the current market trends, Balmoral offers promising investment opportunities. The steady increase in property values indicates that investments made today have the potential for capital appreciation in the long term. Furthermore, the solid population growth rate suggests that there will be a continuing demand for housing, which bodes well for rental properties and developments.
Investors might find particular value in targeting middle-market housing, as indicated by the median house price point. Additionally, given the slower growth rate in apartment prices compared to houses, there may be an opportunity to purchase apartments at a relatively lower cost with the potential for future appreciation as demand continues to rise.
Future Market Outlook
The future market outlook for Balmoral is cautiously optimistic. Given the steady population growth and consistent increase in property values, it is reasonable to forecast continued growth in the real estate sector. However, investors should remain cognizant of broader economic factors that could impact interest rates and affordability which, in turn, might affect market dynamism.
If current trends persist, it’s likely that Balmoral will maintain its course as an attractive location for both homeowners and investors alike. Ongoing developments and infrastructure improvements could further enhance this potential. Investors are encouraged to keep a close eye on local policy changes and economic indicators to time their investments appropriately.
