Cornwallis, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $487,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $487,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,600 |
| Previous Population (2020) | 15,000 |
| Population Change | 4.0% |
| 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 real estate market in Cornwallis, Manitoba currently presents a stable investment environment. With the median house price standing at $487,000 and demonstrating a modest year-over-year increase of 3%, the market is experiencing healthy growth. Similarly, the apartment sector is also showing an upward trend with the median apartment price at $295,000, increasing at a rate of 2.5% year-over-year. These incremental growth rates suggest a balanced market that avoids extreme volatility.
The area’s population has grown by 4% to reach 15,600 residents. This demographic expansion indicates sustained demand for housing and may lead to tighter market conditions if the supply does not match up with the increasing population.
Investment Opportunities and Potential
As an emerging market with consistent population growth, Cornwallis offers several investment opportunities, particularly in residential properties. The steady increase in housing prices suggests that early investments could yield substantial long-term returns as the local economy and population continue to grow. Additionally, the rental market may also present lucrative opportunities given the population increase, as newcomers and residents may be looking for temporary or long-term rental solutions.
Investors should also consider the potential benefits of diversifying their portfolios within the Cornwallis real estate market by investing in both houses and apartments to capitalize on the respective growth trends of each housing type.
Future Market Outlook
The future outlook for Cornwallis’ real estate market appears optimistic. With continuous population growth projected at 4%, there will likely be an ongoing demand for housing which may push property prices further up if supply remains constant or grows at a slower pace. However, investors should keep an eye on economic indicators and development plans for the region that might affect property values and rental demand.
In conclusion, monitoring infrastructure developments, employment rates, and other economic factors will be crucial in forecasting any significant shifts in the market trends. Adaptability to changing conditions will be key for investors looking to maximize their returns in Cornwallis’ evolving real estate landscape.
