Cloverdale, 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 Cloverdale, Manitoba is currently experiencing steady growth. With a median house price sitting at $500,000, the market has seen a year-over-year increase of 3.5%. This indicates a healthy demand for housing in the area, likely driven by Cloverdale’s appealing amenities and quality of life. The median apartment price is also on the rise at $300,000, with a slightly lower growth rate of 2.1% year-over-year.
The population of Cloverdale stands at 15,000 residents, which has grown by an impressive 7.1%. This rapid population growth suggests that Cloverdale is an attractive location for individuals and families looking for residential opportunities, which in turn may be contributing to the steady rise in property values.
2. Investment Opportunities and Potential
Cloverdale presents numerous investment opportunities for both residential and rental markets. The consistent rise in property values, both for houses and apartments, demonstrates potential for capital gains over time. Moreover, the robust population growth rate may lead to increased demand for housing, suggesting that investments in multi-unit residential buildings could offer significant returns through rental income.
The current trends indicate that Cloverdale’s real estate market could be particularly appealing for long-term investors who are looking to expand their portfolios with properties that have the potential for both appreciation and steady rental yields.
3. Future Market Outlook
Looking ahead, the future market outlook for Cloverdale’s real estate seems promising. The sustained increase in property prices coupled with robust population growth suggests that demand for housing will continue to rise. Assuming no major economic disruptions occur, investors and homeowners can be cautiously optimistic about continued growth in property values.
However, it’s important to consider external economic factors such as interest rates, employment rates, and regional economic developments which can influence buying power and overall market conditions. Investors should keep a close eye on these indicators to make informed decisions.
In conclusion, Cloverdale exhibits a dynamic real estate market with ongoing growth in property values and strong demographic trends supporting its potential as a sound investment location for both immediate and future prospects.
