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 (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 Homewood, Manitoba
The real estate market in Homewood, Manitoba currently presents a stable and growing environment. With a median house price standing at $500,000, the market has experienced a 3.5% year-over-year increase, indicating healthy demand and a consistent appreciation of property values. Simultaneously, the median apartment price is positioned at $300,000, following a slightly more modest growth trend of 2.1% year-over-year.
The population of Homewood has seen significant growth, with an increase of 7.1%, which suggests that the area is becoming increasingly desirable for new residents. This demographic shift is likely contributing to the steady demand for housing in both the detached home and apartment segments.
Investment Opportunities and Potential in Homewood
Investors looking at Homewood’s real estate market can find potential in various areas. The consistent growth in house prices reflects a solid investment opportunity for those interested in purchasing single-family homes, which are appreciating at a rate higher than inflation, suggesting good capital gains over time.
The apartment market also shows promise, with prices growing steadily. As population increases typically drive rental demand, investors could benefit from acquiring rental properties or entering into the development of multi-family units to cater to this burgeoning market segment.
Furthermore, considering the population growth and its impact on local infrastructure and services, there may be opportunities for commercial real estate investment or developments that support the expanding community needs.
Future Market Outlook for Homewood
The future outlook for Homewood’s real estate market remains optimistic. The strong population growth indicates ongoing demand for housing will persist. Assuming current economic conditions hold steady and interest rates remain favorable, the residential market is expected to continue its upward trajectory.
Demand for apartments should also hold firm or possibly increase as new residents look for affordable entry points into the housing market or seek rental accommodations. For investors and homeowners alike, Homewood presents a compelling case for long-term real estate investment with expectations of continued property value appreciation and robust rental markets driven by demographic trends.
In summary, whether considering immediate investments or long-term holdings, stakeholders can approach Homewood’s real estate landscape with confidence based on current trends and projections.
