Delta, 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 | $420,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.5% |
| Total Private Dwellings | 6,000 |
| 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 Delta, Manitoba is currently experiencing moderate growth. The median house price in the area is CA$500,000, which reflects a year-over-year increase of 3.5%. This indicates a steady demand for family homes and a healthy real estate market. Similarly, the median apartment price stands at CA$300,000 with a more modest growth rate of 2.1% over the past year. This slower growth rate in apartment prices suggests that there might be a larger supply or slightly lower demand for such housing types.
The population of Delta is approximately 15,000, which has grown by 3.45% recently. This population growth is likely contributing to the sustained demand for housing in the area and can be seen as a positive indicator for the property market stability.
Investment Opportunities and Potential
Given the stable increase in property values and consistent population growth, Delta presents itself as an attractive opportunity for real estate investment. Single-family homes are particularly promising due to their higher annual appreciation rate of 3.5%. Investors looking to invest in rental properties or potential flips could benefit from focusing on this segment of the market.
Apartments offer a more affordable entry point into the real estate market, with a slightly lower appreciation rate of 2.1%. They may appeal to investors focused on the rental market aimed at young professionals or small families who prefer affordable housing options.
Moreover, Delta’s increasing population suggests that there will be ongoing demand for both rental and owned properties. This trend can provide investors with confidence regarding long-term occupancy rates and investment security.
Future Market Outlook
The future outlook for Delta’s real estate market remains optimistic based on current trends and data. The steady increase in house and apartment prices indicates ongoing demand and a robust market. As long as the population continues to grow at its current pace or higher, it is reasonable to expect that these trends will continue.
However, investors should remain vigilant for any changes in economic conditions that could impact employment rates or mortgage interest rates as these factors can influence buyer affordability and therefore affect the real estate market dynamics.
In summary, with careful monitoring of external economic factors and consideration of current trends, Delta’s real estate market shows promise for sustainable growth and offers appealing opportunities for both homebuyers and investors.
