Boissevain, 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
The current real estate market in Boissevain, Manitoba, exhibits a stable growth pattern. As of now, the median house price stands at $500,000, with a year-over-year increase of 3.5%. This increment is indicative of a healthy demand for housing within the area, coupled with an appreciating value in property investment.
Similarly, apartments are also seeing a rise in value, albeit at a slightly slower pace. The median apartment price is currently $300,000, with an annual growth rate of 2.1%. This trend suggests that while the market for houses is robust, apartments are also becoming increasingly desirable properties for both living and investment purposes.
The population of Boissevain is currently around 15,000 residents and has experienced significant growth at a rate of 7.1%. Such population dynamics can have a considerable impact on local housing demand and real estate prices.
Investment Opportunities and Potential
The steady growth in property values combined with ongoing population increases positions Boissevain as an attractive location for real estate investments. The continuous upward trend in house prices indicates room for capital gains over the mid to long term. Investors should consider the potential for rental properties to cater to the growing populace, which could provide stable rental income streams alongside property value appreciation.
Apartments present a unique opportunity as well since they are not only more affordable than houses but also show consistent value growth. This may appeal to first-time investors or those looking to diversify their portfolio into real estate with lower initial capital outlay.
Furthermore, the healthy population growth rate suggests a sustained or increasing demand for housing which could lead to tighter inventory levels and potentially higher rental yields for investors.
Future Market Outlook
The future outlook for Boissevain’s real estate market appears optimistic. If current trends persist, both house and apartment prices are expected to continue their gradual ascent. Population growth is likely to remain a driving force behind this trajectory by fueling demand for housing.
Investors and potential homebuyers should monitor local economic developments and any changes in migration patterns that might influence the market dynamics. Additionally, keeping an eye on interest rates and government policies related to housing can provide further insights into future market conditions.
In conclusion, Boissevain’s real estate market demonstrates potential for continued growth and remains an attractive option for both residential buyers and investors seeking market stability paired with reasonable growth prospects.
