Churchill, 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 Churchill, Manitoba is currently experiencing steady growth. With a median house price of $500,000, the market exhibits a year-over-year increase of 3.5%. This increment reflects a healthy demand for housing in the area. Similarly, the median apartment price stands at $300,000, also showing an upward trend with a 2.1% year-over-year increase. These statistics underscore a consistent appreciation in property values across different housing types.
The population of Churchill has also grown to 15,000 residents, marking a significant growth rate of 7.1%. This rapid rise in population is indicative of an influx of new residents and potential homebuyers into the community, further fueling housing demand and market dynamism.
2. Investment Opportunities and Potential
The ongoing growth in Churchill’s real estate market presents attractive investment opportunities. The consistent increase in property values suggests that purchasing residential real estate could yield solid returns over time. Investors looking to capitalize on rental income may find the apartment sector particularly enticing due to its slightly lower price point and steady appreciation rate.
Likewise, as the population continues to climb, there is potential for new developments and refurbishment projects to meet the rising demand for modern and energy-efficient living spaces. This could open avenues for investors interested in development or long-term capital gains through property flipping.
3. Future Market Outlook
The future outlook for Churchill’s real estate market remains optimistic. Given the robust population growth and corresponding housing demand trends, it is plausible that both house and apartment prices will continue to ascend at a moderate pace.
The local economy’s health and potential investments in infrastructure or amenities could further bolster this positive trajectory, making Churchill an area worth monitoring closely by investors and homebuyers alike for sustainable growth opportunities.
