Blumenort, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.4% |
| Quarterly trend | 3.2% |
| Stock on market | 0.9% |
Apartment
| Median price | $289,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
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 Blumenort real estate market is currently experiencing a period of steady growth. With a median house price of $495,000, the market has seen an increase of 3.2% year-over-year, indicating a stable upward trend in property values. Similarly, the median apartment price stands at $289,000 with a growth trend at a slightly lower rate of 2.5% year-over-year. These figures suggest a balanced market that is growing in line with historical norms without showing signs of overheating.
The population of Blumenort has reached approximately 15,500 residents, which is indicative of a healthy 3.3% population growth. This growth is supportive of the housing demand and contributes to the ongoing development and dynamism in the local real estate market.
Investment Opportunities and Potential
Given the consistent rise in property values coupled with strong population growth, Blumenort presents compelling investment opportunities for both residential and rental properties. The increase in median house and apartment prices suggests that purchasing real estate in Blumenort could lead to appreciable capital gains over time.
Investors looking to enter the rental market may find potential in apartments, considering their lower entry price point and the steady increase in their valuation. As the community continues to grow, it is likely that demand for rental units will remain strong, providing investors with sustained rental income and potential for long-term asset appreciation.
Future Market Outlook
The future outlook for Blumenort’s real estate market remains positive. The consistent population growth serves as a key driver for sustained demand in housing. Assuming that economic conditions remain stable and borrowing costs do not rise significantly, it is reasonable to expect that the current trends will continue.
However, prospective investors and homeowners should also consider external economic factors that could affect mortgage rates and affordability—variables that can influence buyer behavior and potentially impact future market performance.
In conclusion, based on current data and trends observed within Blumenort’s housing market, it is expected that the area will maintain its trajectory of steady growth. Investors should keep abreast of both local developments and broader economic indicators to make informed decisions about entering or exiting this market.
