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
Current Market Conditions and Trends
The real estate market in Garland, Manitoba, is currently characterized by steady growth. With a median house price of $500,000 and an upward trend of 3.5% year-over-year, the market is showing healthy appreciation. Similarly, the median apartment price stands at $300,000, with a slower yet consistent growth rate of 2.1% year-over-year. This suggests a stable environment for both homeowners and investors.
The population of Garland has seen a significant increase of 7.1%, which may be contributing to the demand for housing in the area. This demographic change is likely fueling competition for available properties and may lead to continued upward pressure on prices across both houses and apartments.
Investment Opportunities and Potential
Given the steady price appreciation in Garland’s real estate market, investment opportunities appear promising. The solid growth rates for both houses and apartments indicate that investments could yield favorable returns in the medium to long term. While houses show stronger capital gains, apartments present an accessible entry point for investors due to their lower median price.
Additionally, the robust population growth suggests that rental properties might be in high demand. Investors looking to capitalize on rental income could consider purchasing apartments or homes to cater to the growing number of residents seeking accommodation in Garland.
Future Market Outlook
The future market outlook for Garland remains optimistic based on current trends and demographic data. Assuming the continuation of current economic conditions and population growth rates, the demand for housing is likely to persist, possibly leading to further price increases.
However, potential investors and homeowners should also consider broader economic factors such as interest rates, employment rates, and regional economic development initiatives that can influence market dynamics.
In conclusion, Garland’s real estate market presents a stable investment environment with potential for continued growth. Stakeholders should remain informed on local developments that may impact the market while considering long-term strategies aligned with ongoing trends.
