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
1. Current Market Conditions and Trends in Gimli, Manitoba
The real estate market in Gimli, Manitoba is experiencing a period of moderate growth. The median house price in the region currently stands at $500,000, which represents a year-over-year increase of 3.5%. Such consistent growth indicates a healthy demand for housing amidst a stable economic backdrop. Similarly, the apartment sector has seen prices rise to a median of $300,000, with a more modest annual growth rate of 2.1%. This difference in growth rates may reflect a stronger demand for detached homes over apartments.
Gimli’s population has grown by 7.1%, which now stands at approximately 15,000 residents. This significant growth in population is likely contributing to the demand for housing and can be seen as an indicator of the town’s increasing attractiveness to new residents and potential investors.
2. Investment Opportunities and Potential in Gimli
The sustained increase in property values coupled with substantial population growth suggests robust investment potential in Gimli. Investors might find particular value in the single-family home market, given its higher growth rate compared to apartments. The steady appreciation of house prices provides opportunities for capital gains over the long term.
Apartments offer a lower entry point into the market and may appeal to investors looking for rental properties, particularly as the town continues to attract new residents. Given that apartments are appreciating at a slower pace than houses, investors may find them to be more accessible investments that still offer stable rental income prospects.
Furthermore, as Gimli attracts more residents, there could be increased demand for both residential and commercial real estate development projects. Investors should monitor zoning changes and infrastructure developments that could open up new opportunities within the region.
3. Future Market Outlook for Gimli’s Real Estate
The future outlook for Gimli’s real estate market remains optimistic based on current trends and demographic indicators. The consistent population growth implies that demand for housing is likely to persist or even increase, which can sustain or potentially accelerate current price appreciation trends over the coming years.
It is also important to consider broader economic factors such as interest rates, employment levels in the area, and provincial economic policies that could influence future market conditions. Assuming these external factors remain conducive to growth, Gimli’s real estate market shows promise for continued health and vitality.
In conclusion, while no market is without risk, Gimli presents an attractive profile for both homeownership and investment purposes at this juncture. Stakeholders are advised to continue monitoring key indicators such as housing supply levels, demographic shifts, and economic conditions to make informed decisions moving forward.
