Belair, 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
Belair, Manitoba’s real estate market is currently experiencing a period of steady growth. With a median house price of $500,000, the market has seen a moderate year-over-year increase of 3.5%. Similarly, the median apartment price stands at $300,000, which has risen at a slightly slower pace of 2.1% over the past year. These trends suggest a balanced and stable market that is likely attractive to both buyers and sellers.
The local population has shown a considerable growth rate of 7.1%, which is likely contributing to the demand for housing in the area. This population expansion can be indicative of a healthy local economy and an influx of new residents seeking homes, which may drive up property values over time.
Investment Opportunities and Potential
Given the solid year-over-year growth in property values and the significant increase in population, Belair presents promising opportunities for real estate investment. The consistent rise in housing prices suggests that there is ongoing demand for property in this region, which could benefit investors looking for long-term capital appreciation.
The differential in growth rates between house prices (3.5%) and apartment prices (2.1%) points to potentially higher returns on investment for single-family homes. However, apartments could still appeal to investors targeting rental markets or those looking for more affordable entry points into the real estate market.
The strong population growth also signals potential for development projects to meet the increasing demand for housing. Investors might consider exploring new residential developments or renovations of existing properties to capitalize on the expanding market.
Future Market Outlook
The future outlook for Belair’s real estate market appears optimistic based on current trends and data. Should the population continue to grow at its current rate, it is reasonable to anticipate ongoing demand for housing which could further drive up property values. Moreover, if economic conditions remain favorable and interest rates stable, Belair could maintain its trajectory of gradual and sustained growth.
Investors should monitor factors such as local employment rates, infrastructure developments, and interest rates as these can significantly impact market dynamics. Long-term investments centered around residential properties seem particularly promising given current conditions.
In conclusion, while no market is without risk, Belair’s real estate shows positive indicators that suggest both stability and potential for growth—making it an attractive option for buyers and investors alike.
