Gillam, 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
In Gillam, Manitoba, the real estate market is currently characterized by steady growth. The median house price in this region stands at $500,000, which marks a 3.5% increase year-over-year. This suggests a stable and growing market that is attractive for homeowners and investors alike. Similarly, apartments are also experiencing growth, albeit at a slightly lower rate of 2.1% year-over-year, with the median apartment price at $300,000.
The population of Gillam has reached 15,000 residents, showing a substantial growth rate of 7.1%. This population surge is an important factor contributing to housing demand and can be attributed to new employment opportunities, lifestyle preferences for more spacious living environments away from larger urban centers, or other socio-economic factors specific to the area.
Investment Opportunities and Potential
The real estate market in Gillam presents significant investment opportunities. With a robust population growth rate of 7.1%, there is likely to be an ongoing demand for housing in the near future. The steady increase in property values indicates a healthy market where investments could appreciate over time.
Investors should consider both residential properties and apartments as viable options for investment portfolios given their respective growth trends. The rising median prices suggest that investing now could secure assets below future market value if these trends continue. Additionally, the development of infrastructure or commercial projects in response to population growth could further enhance property values and rental demand.
Future Market Outlook
The future outlook for Gillam’s real estate market appears promising based on current trends and data. Assuming the continuation of current economic conditions and population growth rates, it is reasonable to expect sustained increases in property values. With the median house price already showing a 3.5% year-over-year increase and apartment prices following suit with a 2.1% rise, the upward trend seems set to persist.
However, investors must remain vigilant about external economic factors that could impact these trends such as interest rates changes or broader economic shifts. As always with real estate investments, due diligence is key when evaluating potential properties and considering long-term market dynamics.
In conclusion, Gillam’s real estate market shows healthful signs of growth bolstered by strong population increases. For those looking to invest or stake a claim in this emerging market, now may be an opportune time before prices potentially rise further in response to ongoing demand.
