Durban, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $460,000 |
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 Durban, Manitoba currently exhibits steady growth. With a median house price of $495,000 and an observed year-over-year increase of 4%, the market is showing resilience and a positive trend. The apartment sector, while demonstrating a more modest growth rate, has experienced a 1.9% year-over-year increase, bringing the median apartment price to $295,000. These figures indicate a balanced market that is steadily appreciating in value.
Contributing to the healthy real estate conditions is Durban’s population growth of 3.3%, which suggests ongoing demand for housing. This growing population may be attributed to economic opportunities or lifestyle factors attracting residents to the area.
Investment Opportunities and Potential
Investors considering Durban’s real estate market can find potential in both the housing and apartment sectors. The consistent appreciation of property values signifies a sound investment opportunity, particularly in single-family homes given their higher growth rate. The apartment market also presents potential, especially for investors looking for more affordable entry points into the real estate market or seeking properties that cater to singles, young professionals, or small families.
The city’s population growth bodes well for rental demand, potentially offering attractive returns for buy-to-rent investors. Additionally, new developments or renovations in existing properties could appeal to those looking for capital gains in a growing market.
Future Market Outlook
The future outlook of Durban’s real estate market remains optimistic based on current trends and demographic indicators. Assuming continued economic stability and population growth at its current pace or higher, demand for housing is likely to sustain or even increase median property prices across both houses and apartments.
Investors should stay abreast of local economic policies, infrastructure developments, and trends in migration that could affect future market conditions. However, given the positive growth rates and demographic trends observed thus far, Durban’s real estate market appears poised for continued growth over the coming years.
