Deerwood, 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 Deerwood, Manitoba is currently experiencing steady growth, as evidenced by the year-over-year increase in property values. The median house price in the area stands at $500,000, marking a 3.5% rise from the previous year. This suggests a healthy demand for single-family homes and a competitive market for potential buyers.
Apartments in Deerwood are also seeing an upward trend with the median price at $300,000, which represents a 2.1% increase year-over-year. This more moderate growth rate compared to houses indicates a slightly different market dynamic for multi-family dwellings.
The population of Deerwood has grown to 15,000 and is continuing to expand with a robust growth rate of 7.1%. This influx of residents may contribute to increased housing demand, further fueling the real estate market’s strength.
Investment Opportunities and Potential
The consistent appreciation in property values presents several attractive investment opportunities in Deerwood. The solid growth in house prices suggests that purchasing residential properties for long-term investment could yield significant capital gains. Furthermore, the ongoing population growth implies a rising demand for rental properties, which could benefit investors looking for steady income streams through rentals.
Investors may also find potential in the apartment market. Although the price trend is more modest than that for houses, there is still room for capital appreciation. Moreover, as affordability becomes a concern with higher median house prices, apartments might become increasingly popular among first-time homebuyers and individuals seeking lower-maintenance living arrangements.
Future Market Outlook
Looking ahead, the Deerwood real estate market appears poised for continued growth. The strong population increase will likely continue to drive demand for both housing purchases and rentals. If economic conditions remain favorable and interest rates are stable, this could further support market expansion.
Investors should monitor local economic developments and infrastructure investments that might impact future property values. It’s also important to keep an eye on government policies related to real estate taxation and mortgage regulations that might affect buyer affordability and investor returns.
In conclusion, Deerwood’s real estate market shows promising signs for both homeowners and investors. With careful consideration of market trends and economic factors, stakeholders can make informed decisions to capitalize on opportunities within this vibrant Manitoban community.
