Faloma, 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 Faloma, Manitoba is currently characterized by steady growth. With a median house price of $500,000, the market has experienced a year-over-year increase of 3.5%. This indicates a consistent appreciation in property values which can be seen as an encouraging sign for homeowners and investors alike. The median apartment price is set at $300,000, with a slightly lower growth rate of 2.1% year-over-year.
The population of Faloma stands at 15,000 with a robust growth rate of 7.1%. This significant increase in residents suggests a burgeoning demand for housing in the area. The population surge could be attributed to various factors such as employment opportunities, quality of life, or regional investments attracting new residents. As more people move into the area, demand for both buying and renting properties is expected to rise, potentially driving prices upward further.
Investment Opportunities and Potential
Faloma presents several attractive investment opportunities due to its growing market. The consistent rise in house prices points towards a stable investment environment for single-family homes. Investors may capitalize on this by purchasing residential properties to either rent out or hold for capital appreciation.
Apartments also offer a viable investment option given their 2.1% annual price increase and the influx of new residents looking for rental accommodations. Investors might consider acquiring apartment units or developing multi-family properties to meet this demand.
The current growth patterns suggest that Faloma’s real estate market may offer a favorable return on investment, particularly if the population continues to expand at its current rate or higher.
Future Market Outlook
Looking ahead, the future market outlook for Faloma appears positive based on recent trends and demographic data. If the population continues to grow at 7.1%, demand for housing will likely remain strong which should underpin property values and possibly lead to an increased rate of appreciation.
However, it is important for investors to consider potential economic factors that could affect the market such as interest rates, employment levels within the region, and broader national economic conditions. Keeping abreast of these factors will be key in making informed investment decisions moving forward.
In conclusion, while current trends point towards a healthy and expanding real estate market in Faloma, Manitoba, investors should maintain due diligence and stay informed about local and national economic indicators that could impact future market conditions.
