Elkhorn, 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 in Elkhorn, Manitoba
The real estate market in Elkhorn, Manitoba is currently characterized by steady growth. With a median house price of $500,000 and an appreciating trend of 3.5% year-over-year, the market demonstrates resilience and a healthy demand for single-family homes. The apartment sector also shows positive momentum, albeit at a slightly slower pace, with a median price of $300,000 and an appreciation rate of 2.1% year-over-year. This growth can be partly attributed to the significant population increase of 7.1%, indicating robust demographic support for housing demand.
Investment Opportunities and Potential
Elkhorn’s real estate market presents several enticing opportunities for investors. The consistent rise in property values suggests that investments in both residential houses and apartments are likely to benefit from capital appreciation over time. Moreover, with the town’s population expanding rapidly, there is potential for rental properties to yield attractive returns as demand for housing is expected to outpace supply in the near term. Investors should also note the diversification potential within Elkhorn’s real estate portfolio, ranging from more affordable apartment units to higher-end single-family homes.
Future Market Outlook
The future outlook for Elkhorn’s real estate market remains optimistic based on current trends and demographic data. The sustained population growth of 7.1% will likely continue to underpin the demand for housing. Assuming economic conditions remain stable and interest rates are favorable, the market could maintain or even exceed the current growth rates observed in both house and apartment prices. Prospective homebuyers and investors should monitor local developments closely, such as infrastructure projects or changes in zoning laws, which could further impact property values and investment potential.
