Garson, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $290,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
In Garson, Manitoba, the real estate market is currently characterized by a steady increase in property values. The median house price is $485,000, with a positive year-over-year trend of 4.2%. This suggests a healthy demand for single-family homes and a seller’s market where homeowners might see appreciating values for their properties.
For the apartment sector, the median price stands at $290,000, with a more modest growth rate of 1.9% year-over-year. While this indicates a growing interest in more affordable and lower-maintenance living spaces, the slower pace of appreciation suggests that the market for apartments is less competitive than that for houses.
The population of Garson has reached 15,200, showing a significant growth rate of 2.7%. This demographic expansion is likely contributing to the sustained demand for housing in the area.
2. Investment Opportunities and Potential
The rising property values in both the house and apartment markets indicate robust investment opportunities in Garson. Investors looking to capitalize on equity growth may find single-family homes particularly attractive due to their higher appreciation rate.
Apartments present an opportunity for investors seeking more affordable entry points into real estate or those interested in rental income streams. Given the population growth and an increase in residents potentially seeking lower-maintenance living arrangements, apartments could offer long-term investment stability.
With Garson’s ongoing development and population influx, new construction and renovation projects may also represent lucrative ventures as demand for modernized living spaces grows.
3. Future Market Outlook
The future real estate market outlook for Garson remains optimistic. The consistent population growth paired with upward trending property values suggests that demand will continue to bolster the local real estate market.
If current trends persist, investors can expect continued appreciation in property values, particularly for houses which have shown stronger growth rates. However, factors such as economic stability, interest rates, and local employment opportunities will also play critical roles in shaping the future market dynamics.
The data indicates that Garson is positioned as an attractive market for both residential buyers and real estate investors. A strategic approach to investment focused on areas of high demand and potential for growth could yield positive returns over the coming years.
