Garland, 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
1. Current Market Conditions and Trends
The real estate market in Garland, Manitoba is currently characterized by stable growth, as evidenced by the year-over-year increases in property values. The median house price stands at $500,000, having grown by 3.5% over the past year, while the median apartment price is now at $300,000, reflecting a slightly lower growth rate of 2.1% year-over-year. This level of growth is consistent with healthy demand and a balanced market that benefits both sellers and buyers.
The population of Garland has been growing at a robust rate of 7.1%, which suggests an expanding local economy and a potential increase in housing demand. This demographic trend is a critical driver of housing market dynamics as it can lead to a higher demand for housing units, both purchased and rented.
2. Investment Opportunities and Potential
Given the steady growth in property values and the significant population increase, Garland presents promising investment opportunities for both residential and rental properties. Investors looking to capitalize on equity growth may find single-family homes to be particularly attractive due to their higher appreciation rate.
The rental market also benefits from the population boom, as newcomers require immediate housing solutions, potentially boosting occupancy rates and rental yields for investors targeting apartments. The slower growth rate in apartment prices compared to houses indicates that there might be room for significant upside potential in this sector as demand continues to rise.
3. Future Market Outlook
The future market outlook for Garland remains optimistic based on current trends and data. The continued population growth should keep demand for housing strong, which could lead to sustained or even increased rates of property value appreciation. However, investors and homebuyers should monitor local economic indicators closely, as any shifts could impact these projections.
Infrastructure developments, job market trends, and interest rate changes will also play crucial roles in shaping the future real estate landscape in Garland. Keeping an eye on these factors will be essential for making informed investment decisions moving forward.
