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 | $450,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 6.0 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Gillam, Manitoba
The real estate market in Gillam, Manitoba is demonstrating steady growth, with median house prices reaching $500,000, marking a 3.5% increase year-over-year. This uptrend suggests a healthy demand for residential properties in the area. Similarly, the apartment sector has seen a moderate appreciation with the median apartment price at $300,000, reflecting a 2.1% rise year-over-year. The population of Gillam is currently estimated at 15,000 residents, with an impressive growth rate of 3.4%. This indicates an expanding community which could further fuel housing demand.
Investment Opportunities and Potential in Gillam
In light of the current market conditions, Gillam presents promising investment opportunities, particularly in residential real estate. The consistent rise in property values coupled with the town’s increasing population suggests that there is potential for both capital appreciation and rental income streams. For investors looking to enter the market, focusing on single-family homes could be advantageous given their higher appreciation rate compared to apartments. Additionally, targeting the growing demographic through developments that cater to their needs could yield positive returns.
Future Market Outlook for Gillam Real Estate
The future outlook for Gillam’s real estate market remains optimistic. Factors such as ongoing population growth and sustained property value increases indicate that the market momentum should continue. Assuming that economic and regional factors remain supportive, investors can reasonably expect continued appreciation in property values. However, as with any investment, potential changes in interest rates, employment levels, and infrastructure development should be closely monitored as they can have significant impacts on local real estate markets.
