Hargrave, 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 Hargrave, Manitoba
In Hargrave, Manitoba, the real estate market is showing signs of consistent growth. Currently, the median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This steady rise in house prices suggests a healthy demand for single-family homes in the region. Similarly, apartments are experiencing growth with the median price at $300,000, which has seen a slower yet positive trend of 2.1% year-over-year.
The population of Hargrave has increased to 15,000 residents, indicating a significant growth rate of 7.1%. This demographic expansion is likely contributing to the increased demand for housing in the area. With more individuals and families moving to Hargrave, both rental and ownership markets are poised to benefit from this influx.
Investment Opportunities and Potential in Hargrave’s Real Estate Market
The investment landscape in Hargrave appears promising given the current market trends. The steady appreciation in property values indicates a stable environment for real estate investments. Single-family homes offer potential for capital gains as evidenced by the solid annual increase in median house prices. For investors looking at rental properties or seeking to cater to a younger demographic, apartments present an attractive opportunity with their growing value and relative affordability.
With the population on the rise, there is also potential for new development projects to meet the housing needs of the community. This could include both residential constructions as well as mixed-use developments that combine residential living with retail and commercial spaces, adding diversity to investment options within the market.
Future Market Outlook for Hargrave’s Real Estate
The future outlook for Hargrave’s real estate market remains optimistic. Population growth acts as a primary driver for housing demand and is expected to continue supporting property values. If current trends persist, both housing and apartment markets should maintain their upward trajectory.
However, it’s important for investors and homebuyers to consider economic factors such as employment rates, local industry performance, and interest rate fluctuations which can influence market conditions. Assuming these economic fundamentals remain strong, Hargrave’s real estate market could experience sustained growth over the coming years.
Careful monitoring of both local and national economic indicators will be crucial for anyone looking to enter or currently participating in Hargrave’s real estate market. Staying informed will help stakeholders make strategic decisions that align with future market movements.
