Elie, 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 Elie, Manitoba is currently experiencing steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market demonstrates resilience and a positive trend for homeowners. Similarly, the median apartment price stands at $300,000, with a more modest growth rate of 2.1% over the past year. This indicates that while apartments are gaining value, houses are the primary driver of market growth in Elie.
Elie’s population currently stands at 15,000 and has seen significant growth of 7.1%. This influx has likely contributed to the increased demand for housing in the area, further supporting the appreciation in property values. The consistent population growth suggests a robust community that is attracting residents for its amenities, lifestyle, or economic opportunities.
Investment Opportunities and Potential
For investors considering Elie’s real estate market, there is potential to capitalize on both residential properties and apartments. Given the solid increases in median prices for houses and apartments, long-term investment strategies could yield profitable returns. The sustained population growth further bolsters confidence in the rental market’s potential; as more people move to Elie, demand for rental accommodations could rise.
Investors should also note that the higher percentage increase in house prices suggests that single-family homes may offer better capital gains compared to apartments. However, this does not preclude the latter from being a wise investment choice—apartments can still be attractive due to their typically lower purchase price points and potentially lower maintenance costs.
Future Market Outlook
Looking ahead, Elie’s real estate market shows promise for continued growth. Assuming that current trends persist and the local economy remains stable or improves, one can anticipate ongoing appreciation in property values. The region’s strong population growth rate is likely to sustain demand for housing, which should support both resale values and rental rates.
In conclusion, while no market analysis can guarantee future performance, data-driven insights suggest that Elie’s real estate market could maintain its upward trajectory. Prospective buyers and investors may find this an opportune time to enter the market or expand their portfolios within this community.
