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
Current Market Conditions and Trends
The real estate market in Cloverdale, Manitoba, is currently experiencing a period of steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes in the area. Similarly, the median apartment price is set at $300,000, with a more modest growth trend of 2.1% year-over-year. This slower pace suggests that there is an appetite for multi-family dwellings but perhaps not as strong as that for houses.
The population of Cloverdale stands at 15,000 and has been growing at a rate of 7.1%. This significant population growth likely contributes to the demand for housing and could be a factor in the current upward trends in property prices.
Investment Opportunities and Potential
Given the current market trends and population growth, investment opportunities in Cloverdale appear promising. The consistent increase in housing prices suggests that purchasing residential property could yield substantial returns through both capital appreciation and rental income. Investors might find particular potential in single-family homes due to their stronger year-over-year price increase compared to apartments.
However, since apartments are also appreciating, albeit at a slower rate, they remain an attractive option for investors looking to cater to individuals or smaller households who may prefer more affordable housing options or are not yet ready to invest in buying a home.
Future Market Outlook
The future market outlook for Cloverdale’s real estate seems optimistic. If the current trends continue alongside the robust population growth, it is reasonable to expect that demand for housing will persist, potentially driving prices up further. As long as economic conditions remain favorable and no significant changes disrupt the local housing market dynamics, both house and apartment markets should remain resilient.
Investors should monitor factors such as employment rates, interest rates, and any potential regulatory changes affecting real estate to stay ahead of market shifts. A continued focus on developing amenities and infrastructure by local authorities could also further enhance property values over time.
