Erinview, 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 Erinview, Manitoba currently exhibits steady growth. The median house price stands at $500,000, which represents a year-over-year increase of 3.5%. This signals a healthy demand for single-family homes in the area. In the apartment sector, the median price is $300,000, with a slightly lower growth rate of 2.1% year-over-year. These incremental trends suggest a balanced market that is growing at a sustainable pace.
Erinview’s population has seen significant growth at a rate of 7.1%. This demographic trend is likely contributing to the demand for housing and could be an indicator of continued market strength. However, it’s essential to consider that these figures are subject to change depending on broader economic factors and local developments.
Investment Opportunities and Potential
The current growth rates in both house and apartment prices indicate that Erinview holds promising opportunities for real estate investors. The steady increase in property values suggests that investments made now could yield solid returns over time.
The notable population growth further enhances the investment potential as it may lead to an increased demand for rental properties. Investors might find particular value in targeting the apartment sector, given its affordability relative to single-family homes and appeal to individuals such as young professionals or smaller families looking for lower-cost housing options.
Future Market Outlook
Looking ahead, the future market outlook for Erinview appears cautiously optimistic. Assuming the continuation of current trends—modest yet stable price increases and healthy population growth—Erinview’s real estate market should maintain its upward trajectory.
However, potential investors and homeowners should monitor local economic policies, interest rates, and employment rates as these factors could affect market conditions. Keeping an eye on regional development plans can also provide insights into future property value appreciation.
In summary, Erinview presents an attractive landscape for both residential property buyers and real estate investors alike. With prudent research and monitoring of economic indicators, stakeholders can make informed decisions to capitalize on this growing market.
