Horndean, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $490,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.3% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $490,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $415,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Horndean, Manitoba is experiencing steady growth, with a focus on single-family homes. The median house price in the area is currently at $490,000, reflecting a year-over-year increase of 3.2%. This indicates a stable and growing market, which is slightly outpacing inflation and indicative of healthy demand.
Apartments in Horndean are also seeing a positive trend with the median price at $295,000 and a year-over-year growth of 2.3%. This slower growth compared to houses suggests that the demand for apartments is increasing, albeit at a more modest pace.
The population of Horndean has reached approximately 15,500 residents with a notable growth rate of 3.3%. This influx points to a burgeoning community that may continue to drive demand for housing in both purchase and rental markets.
Investment Opportunities and Potential
In light of the current market conditions, Horndean presents several investment opportunities. The consistent rise in median house prices offers potential for capital appreciation over time. Investors looking to acquire assets in a growing market would do well to consider single-family homes, which are currently experiencing higher appreciation rates than other property types.
The apartment sector also offers investment opportunities, especially for those interested in catering to individuals or small families who may be priced out of the single-family home market or prefer more affordable housing options. With modest year-over-year price increases, investors can anticipate gradual but steady capital gains along with potential rental income.
In addition to residential properties, the population growth in Horndean suggests an increased demand for amenities and services which opens doors for commercial real estate developments and investments as well.
Future Market Outlook
The future real estate market outlook for Horndean remains optimistic. Population growth is expected to continue as economic conditions attract new residents seeking employment and lifestyle opportunities. Such demographic trends are likely to maintain or even increase the demand for housing within the region.
The steady rise in property values suggests that Horndean will maintain its trajectory as a desirable location for both living and investing. However, investors should remain vigilant about national economic indicators and local development plans that could affect property values and rental market dynamics.
In conclusion, Horndean’s real estate market shows promise with stable appreciation rates for houses and apartments alike. Its growing population signals ongoing investment potential across various sectors of the real estate market. With careful consideration of broader economic factors and continuous monitoring of local trends, investors can look forward to favorable prospects in this Manitoba community.
