Cromer, 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 Cromer, Manitoba, is currently experiencing steady growth, as reflected in the year-over-year price trends. The median house price in the region stands at $500,000, marking a 3.5% increase from the previous year. This indicates a healthy demand for single-family homes and suggests that the market is attracting homeowners looking for long-term investment and stability.
Similarly, apartments have seen an increase in value, with the median apartment price reaching $300,000, which corresponds to a 2.1% year-over-year growth. This slower growth rate compared to houses might be indicative of a more substantial interest in detached housing but still shows positive momentum for apartment investments.
The population in Cromer has been on an upward trajectory with a significant growth rate of 7.1%, indicating an influx of new residents and potential buyers into the market. Such demographic trends are critical for sustaining long-term real estate market growth.
Investment Opportunities and Potential
Cromer’s real estate market presents several promising investment opportunities. The steady appreciation of house prices suggests that purchasing residential properties could yield solid returns over time. For investors looking towards the buy-and-hold strategy or those interested in rental income, Cromer’s growing population implies a rising demand for housing.
The apartment sector, while showing more modest growth, still offers potential, particularly for investors aiming at a more affordable entry point into real estate investment or those targeting smaller households and professionals who may prefer apartment living. Given the overall positive economic indicators and sustained population increase, both housing types are poised to benefit from the town’s expansion and economic vitality.
Future Market Outlook
The future outlook for Cromer’s real estate market remains optimistic based on current trends and demographic data. Assuming that economic conditions remain favorable and the population continues to grow at its current or higher rate, demand for housing is likely to keep driving property values up.
An important aspect to monitor will be how local infrastructure and amenities develop in response to population growth. Adequate development in these areas could further enhance property values and quality of life, making Cromer an even more attractive location for potential homeowners and investors alike.
In conclusion, careful observation of interest rates, employment rates, and regional economic developments will be necessary for accurate future predictions. However, given current data points, Cromer’s real estate market shows clear signs of robust health with promising opportunities for both homebuyers and investors.
