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 currently exhibits stable growth with the median house price standing at $500,000, marking a year-over-year increase of 3.5%. This steady appreciation indicates a healthy demand for single-family homes in the area. Similarly, the median apartment price is set at $300,000, with a slightly lower growth rate of 2.1% year-over-year, reflecting a consistent but more moderate demand for multi-family or lower-cost housing options.
The population of Killarney has reached approximately 15,000 residents, showing a significant growth rate of 7.1%. This increase in population suggests a rising demand for housing and can be attributed to factors such as employment opportunities, lifestyle preferences, or the influx of residents from other regions seeking the attractive living conditions that Killarney offers.
Investment Opportunities and Potential
The real estate market in Killarney presents robust investment opportunities. The consistent growth in house prices points towards a market that remains attractive for long-term investments in residential properties. Single-family homes, with their higher appreciation rate, are particularly appealing for investors looking to capitalize on equity growth over time.
Apartments represent an alternative investment route with their own set of advantages. The 2.1% growth rate may appeal to investors prioritizing stability and lower entry costs, as well as those looking to cater to individuals or small families who prefer more affordable housing or are not yet ready to invest in standalone properties.
The expanding population further strengthens the case for real estate investment. An increasing number of residents typically leads to heightened demand for both rental and owner-occupied housing. Investors can take advantage of this trend by focusing on areas within Killarney that are projected to see the greatest influx of new residents or by offering housing solutions tailored to the needs of this growing community.
Future Market Outlook
The future outlook for Killarney’s real estate market remains optimistic. Population trends suggest ongoing demand which should underpin property values. Assuming no major economic disruptions occur and current trends continue, we can expect further gradual increases in property values across both houses and apartments.
However, potential investors should remain cognizant of external economic factors such as interest rates, employment statistics, and regional economic development initiatives which could influence market dynamics significantly. Additionally, as more people move into the area, there may be opportunities for new developments or renovations that cater to changing consumer preferences.
In conclusion, Killarney’s real estate market is characterized by stable growth and presents various opportunities for investors with different risk appetites and investment horizons. Continuous monitoring of economic indicators and local development plans will be key to making informed investment decisions in this region.
