Homewood, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Homewood, Manitoba
The real estate market in Homewood, Manitoba, presents a stable and growing environment. The median house price in the area currently stands at $500,000, showing a healthy appreciation of 3.5% year-over-year. This growth rate indicates a robust demand for single-family homes and resilience in the local property market.
Apartment prices are also on an upward trajectory, albeit at a slightly slower pace. The median price for apartments is $300,000, with an annual increase of 2.1%. This suggests that while the market for apartments is growing, it is doing so at a more modest rate compared to houses.
The population of Homewood stands at 15,000 residents with a substantial growth rate of 7.1%. Such demographic expansion is likely contributing to the increased demand for housing and sustaining the upward trend in property values.
Investment Opportunities and Potential in Homewood, Manitoba
The positive growth trends in Homewood’s housing market suggest that investment opportunities are ripe. With single-family homes appreciating faster than apartments, investors might find greater potential in targeting this segment for long-term equity gains. However, the steady increase in apartment prices should not be overlooked as it represents a sustainable investment opportunity, particularly for those looking to cater to younger professionals or smaller households.
The robust population growth further reinforces the potential for real estate investments to yield favorable returns as the demand for housing units—whether purchased or rented—is likely to remain strong.
Future Market Outlook for Homewood, Manitoba
Considering current trends and demographic indicators, the future real estate market outlook for Homewood appears promising. If the population continues to grow at its current rate of 7.1%, demand for housing will sustain or even increase, which should support continued appreciation in property values.
The consistent rise in median house and apartment prices indicates a stable market that may attract both first-time homebuyers looking for long-term investments and seasoned investors seeking portfolio diversification. With economic stability and potential infrastructure developments catering to an expanding population, Homewood’s real estate market is poised for continued growth.
In conclusion, careful monitoring of economic factors and potential changes in interest rates will be crucial to accurately predict market shifts; however, current data suggests that Homewood remains an attractive locale for both residential living and real estate investment.
