Killarney, 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 Killarney, Manitoba, is currently experiencing moderate growth. With a median house price of $500,000 that has seen a year-over-year increase of 3.5%, the market is indicating healthy expansion. Similarly, the median apartment price stands at $300,000, which has risen by 2.1% over the same period. These trends suggest a steady demand for housing, reflective of both local economic stability and buyer confidence.
Also noteworthy is Killarney’s population growth of 7.1%. This significant demographic change often correlates with increased housing demand and can potentially drive prices up further as supply struggles to keep pace with population inflow.
Investment Opportunities and Potential
For investors looking at Killarney’s real estate market, the current conditions present promising opportunities. The consistent appreciation in property values indicates that purchasing real estate in this area could be a sound investment with potential capital gains over time. The town’s growing population also signals a possible rise in rental demand, suggesting that rental properties could offer sustained income streams and low vacancy rates for investors.
In addition to residential properties, commercial real estate may also benefit from the expanding population base as new businesses seek to cater to the increasing local consumer market. As such, diversified investment strategies that include both residential and commercial properties could be advantageous.
Future Market Outlook
Looking ahead, Killarney’s real estate market appears poised for continued growth. The underlying fundamentals—such as the substantial population increase—support an optimistic outlook for property values and investment potential. Should current trends persist, investors can reasonably expect ongoing appreciation in property valuations coupled with robust rental markets.
However, it is important for investors to monitor any shifts in economic conditions or housing policies that may impact future market dynamics. Staying informed on local development plans and infrastructure projects can also provide insight into areas poised for more significant growth within Killarney.
In conclusion, while no investment is without risk, Killarney presents an attractive profile for those looking to enter the real estate market or expand their portfolio in this region of Manitoba.
