Gimli, 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 Gimli, Manitoba is currently experiencing steady growth, with the median house price sitting at approximately $500,000. This reflects a year-over-year increase of 3.5%, indicating a healthy and growing market that has been attracting interest from both local and out-of-town buyers. Similarly, the apartment market is showing positive trends with a median price of $300,000 and a slower but still upward trend of 2.1% year-over-year.
This consistent growth trend can be partially attributed to Gimli’s increasing population, which has grown by 7.1% recently, now totaling around 15,000 residents. The influx of new residents suggests a rising demand for housing in the area. This demand may be fueled by factors such as Gimli’s attractive lakeside setting, its small-town charm coupled with proximity to Winnipeg, and overall affordability compared to larger Canadian urban centers.
Investment Opportunities and Potential
Given the steady increase in property values and population growth, Gimli presents several attractive investment opportunities for both residential property investors and those interested in commercial real estate development. The escalation in median house prices creates potential for long-term capital gains for investors who purchase residential properties now.
Apartments are also becoming an increasingly attractive option for both rental income and resale given their more modest price appreciation rate of 2.1%. This provides a lower entry point for investors while still participating in the market’s overall positive momentum.
The growing population points towards a need for additional services and housing options which suggest potential for new developments, including mixed-use buildings that combine residential living spaces with retail or office units catering to the needs of the community.
Future Market Outlook
The future outlook for Gimli’s real estate market remains optimistic. The established pattern of growth in property values is expected to continue moderately due to the region’s ongoing appeal as a destination that offers quality living at reasonable costs. The town’s amenities, natural beauty, and strategic initiatives aimed at encouraging economic development are likely to further fuel both residential and commercial real estate markets.
Demand is anticipated to remain strong especially considering Gimli’s attractiveness as both a year-round residence destination and a seasonal hotspot during summer months due to its lakefront activities. Investors can reasonably expect continued market stability with potential for gradual appreciation in property values over the coming years.
In conclusion, careful monitoring of market conditions combined with consideration of macroeconomic factors will be crucial for those looking to take advantage of Gimli’s real estate opportunities in the near future.
