Crandall, 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 Crandall real estate market is currently experiencing stable growth, as indicated by the year-over-year increases in median housing prices. The median house price stands at $500,000, with a growth trend of 3.5% over the past year, suggesting a steady demand for single-family homes. Similarly, the median apartment price has reached $300,000, with a more modest growth rate of 2.1% year-over-year. This growth is reflective of an overall healthy real estate market that is keeping pace with inflation and economic conditions in the region.
The local population has seen a significant increase of 7.1%, which now stands at approximately 15,000 residents. This uptick in population is contributing to the demand for housing in Crandall and is likely one of the driving forces behind the rising property values.
2. Investment Opportunities and Potential
Given the consistent growth in property values and an expanding population, Crandall presents attractive investment opportunities for both residential properties and rental units. The positive trend in house prices indicates that purchasing residential real estate could yield capital gains over time, especially for investors looking for long-term appreciation.
The rise in population suggests that there may be an underserved rental market, making apartment complexes or multi-family dwellings potentially lucrative investments. With apartment prices increasing at a slower rate than houses, investors could capitalize on more affordable entry points into the market while benefiting from potential rental income escalation as demand continues to grow.
3. Future Market Outlook
The future outlook for Crandall’s real estate market appears promising. The sustained increase in house and apartment prices points towards ongoing stability and confidence in the local economy. Assuming current trends continue, investors and homeowners can expect to see further gradual appreciation in property values.
The robust population growth serves as a strong indicator of future demand for housing, which should support both resale values and rental market strength. If Crandall continues to attract new residents at its current pace or higher due to factors such as employment opportunities, lifestyle amenities, or regional developments, the real estate market stands to benefit substantially.
In conclusion, careful monitoring of economic indicators and demographic shifts will be crucial for those invested in Crandall’s real estate market, but all signs point towards a healthy outlook with ample opportunity for investment growth.
