Faloma, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Faloma, Manitoba, currently presents a robust median house price of $485,000, with a healthy year-over-year increase of 4%. This growth indicates a stable and appreciating housing segment. In contrast, the median apartment price stands at $295,000, experiencing a smaller yet positive trend of 2.5% year-over-year. The steady increase in property values reflects ongoing demand and confidence in the local real estate market.
Faloma’s population has experienced significant growth, reported at 3.33%, which is likely contributing to the increasing demand for housing. This demographic expansion can be attributed to factors such as job growth, lifestyle appeal, and overall economic stability within the region.
Investment Opportunities and Potential
The current trajectory of the housing market suggests that investment opportunities in Faloma are promising. The consistent appreciation in property values provides potential for capital gains over time. Investors looking to purchase residential properties could benefit from the town’s growth momentum. With single-family homes showing stronger price increases compared to apartments, these properties may offer higher potential returns.
Furthermore, the rental market could represent another avenue for investment due to population growth driving demand for rental accommodation. Investors might consider leveraging this aspect by acquiring apartments or houses to cater to this segment.
Future Market Outlook
Moving forward, Faloma’s real estate market outlook appears optimistic. The continued population growth is expected to sustain demand for both ownership and rental properties. If current trends persist, property values are likely to maintain their upward trajectory, albeit fluctuations are always possible due to broader economic factors.
Local economic development initiatives and infrastructure investments could further bolster the attractiveness of Faloma as a place to live and invest in. As such, prospective buyers and investors should monitor these developments closely as they can impact the real estate market significantly.
In conclusion, Faloma offers a compelling market with strong fundamentals for both homebuyers and investors. However, as with any property market analysis, it’s crucial to conduct thorough due diligence and consider both macroeconomic factors and local market specifics before making any investment decisions.
