Binscarth, 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 in Binscarth, Manitoba
In Binscarth, Manitoba, the real estate market is currently experiencing stable growth. The median house price stands at $500,000, which indicates a moderate market that could be accessible to a range of buyers. Over the past year, house prices have seen a growth trend of 3.5%, reflecting a steady increase in property values that outpaces inflation and suggests healthy demand within the housing sector.
Similarly, the apartment market in Binscarth is following an upward trajectory with median prices at $300,000 and witnessing a 2.1% year-over-year increase. This growth is slightly more conservative compared to the housing segment but nonetheless points towards a consistent appreciation in value. The population of Binscarth has reached 15,000 residents and is growing at a rate of 7.1%. Such notable population growth is likely contributing to the demand for housing and could be seen as a positive indicator for continued real estate market activity.
Investment Opportunities and Potential in Binscarth
Considering the current trends, investment opportunities within Binscarth’s real estate market show promise. With median house and apartment prices set at $500,000 and $300,000 respectively, there exists potential for investors to enter a market that is not overheated yet appears to offer steady capital appreciation.
The ongoing population growth of 7.1% could lead to increased rental demand, particularly for apartments. Investors might focus on acquiring rental properties that cater to new residents seeking affordable living spaces. The rise in apartment values by 2.1% year-over-year suggests that such investments may benefit from both capital gains and rental income streams.
Future Market Outlook for Binscarth
The future outlook of the Binscarth real estate market appears cautiously optimistic. With housing prices experiencing a solid annual increase of 3.5%, it’s likely that the local real estate will continue on this growth path in the near term, assuming current economic conditions persist.
The significant population growth rate of 7.1% should continue to underpin demand for housing in both purchase and rental markets. This demographic trend, coupled with current price appreciation rates, suggests that Binscarth’s real estate market could offer sustained investment potential moving forward.
However, investors should remain aware of broader economic factors and regional developments that may impact future market dynamics. Careful analysis of ongoing trends and responsive investment strategies will be key to capitalizing on Binscarth’s real estate potential.
