Horndean, 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
The real estate market in Horndean, Manitoba is currently experiencing steady growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This suggests that the market is healthy and that homes are appreciating at a moderate pace. Meanwhile, the median apartment price is $300,000, with a slightly lower year-over-year growth rate of 2.1%. This indicates that apartments are also gaining value, but at a more modest rate compared to houses.
The population of Horndean has reached 15,000 residents, with a significant growth rate of 7.1%. Such a robust population increase can be indicative of a burgeoning local economy and job market, which often correlates with rising demand for housing. As demand increases, it is likely to put upward pressure on property values and rental rates.
Investment Opportunities and Potential
Given the current trends in Horndean’s real estate market, there are potential investment opportunities to be considered. The steady growth in house prices suggests that purchasing residential property could be a sound investment, particularly for long-term investors looking to capitalize on continuous appreciation.
Apartments present an opportunity as well, especially for those interested in catering to renters or entering the market at a lower price point. With the population growth outpacing housing supply, rental demand is expected to rise, potentially leading to higher rental yields for investors.
Developers might also find Horndean attractive due to its expanding population base. There may be room for new housing developments, including subdivisions and multi-family units, which could meet the growing housing demand driven by the increasing population.
Future Market Outlook
The future market outlook for Horndean remains positive. The consistent rise in home values coupled with substantial population growth suggests that the demand for housing will continue to grow. If economic conditions remain favorable and the job market continues to expand, we can anticipate sustained or even increased growth rates in property values.
However, investors and stakeholders should monitor factors such as interest rates, employment rates, and local economic policies as they can significantly influence market dynamics. A proactive approach to understanding these factors will help in making well-informed decisions regarding real estate investments in Horndean.
