Benito, 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
1. Current Market Conditions and Trends
The real estate market in Benito, Manitoba, is currently experiencing steady growth. With a median house price of $500,000 and a year-over-year price increase of 3.5%, the housing market indicates a healthy demand for single-family homes. Similarly, the apartment sector, with a median price of $300,000, reflects a modest growth pattern at 2.1% year-over-year.
This growth can be partly attributed to the town’s population rise to 15,000 residents, marking a significant growth rate of 7.1%. This demographic trend suggests that Benito is attracting new residents, potentially due to employment opportunities, lifestyle factors, or its real estate market’s investment potential.
2. Investment Opportunities and Potential
The current trends in Benito’s real estate market present promising opportunities for investors. The consistent increase in property values across housing and apartment sectors shows resilience and potential for capital appreciation. Moreover, the robust population growth rate enhances the potential for rental market investments as more people seek residences in the area.
For those considering investment properties or development projects, these statistics indicate a welcoming environment for both short-term gains through flips and long-term returns via rental income. As demand is likely to be sustained by the increasing population, investors could expect low vacancy rates and stable rental yields.
3. Future Market Outlook
The future outlook for Benito’s real estate market appears optimistic. Given the current trajectory of property values and demographic expansion, it is reasonable to anticipate continued growth in both property prices and rental demand over the coming years.
The ongoing population increase will likely maintain pressure on the housing supply, which could lead to further price appreciation and opportunities for new residential developments. While external economic factors can influence market dynamics unpredictably, current data points towards a positive short to mid-term horizon for Benito’s real estate landscape.
In summary, prospective buyers and investors have strong reasons to consider Benito as an attractive market for real estate ventures, while existing property owners may benefit from holding onto their assets to capitalize on projected value increases.
