Crandall, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| 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 Crandall, Manitoba currently showcases a stable growth trajectory. The median house price stands at $485,000, with a year-over-year price increase of 2.8%. This indicates a moderately competitive market that is not overheating but still provides room for steady appreciation. The median apartment price is comparatively lower at $295,000, with a slightly lesser growth rate of 1.9% year-over-year. This suggests that the apartment segment of the market is experiencing a somewhat softer acceleration in prices than houses.
Crandall’s real estate market is also influenced by its demographic trends. With a population of 15,500 and a growth rate of 3.3%, there is evidence of healthy demand driven by population increases which may contribute to sustaining current housing demands and market stability.
Investment Opportunities and Potential
The investment opportunities in Crandall appear promising given the steady growth in both housing prices and population. The consistent uptick in median house and apartment prices implies that investments in residential properties could yield respectable returns through both rental income streams and capital gains over time.
Investors should consider targeting properties that cater to the growing population, potentially focusing on family-sized homes or units that can attract professionals moving to the area for work opportunities. Furthermore, given the relatively lower price point and growth rate of apartments, there may be an opportunity for investors to enter this segment with less capital while still positioning for future appreciation as demand continues to rise.
Future Market Outlook
The future outlook for Crandall’s real estate market remains cautiously optimistic. With an ongoing population growth rate exceeding 3%, the local economy will likely see increased demand for housing which should continue to support the market’s stability and growth.
However, potential investors should remain aware of broader economic factors such as interest rate changes, employment rates, and national economic trends that could influence consumer confidence and spending ability. While current trends suggest a positive trajectory, maintaining vigilance on these indicators will be crucial for accurate forecasting and strategic investment decisions.
In summary, Crandall offers a balanced real estate market with growing opportunities for investors who are looking for moderate but steady returns on investment. As always, potential investors should conduct thorough due diligence and consult with local real estate experts before making any financial commitments.
