Lenore, 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 current real estate market in Lenore, Manitoba, can be characterized by steady growth. The median house price in the area is $500,000, reflecting a year-over-year increase of 3.5%. This consistent upward trend indicates a healthy demand for single-family homes. Similarly, the apartment market has shown resilience with a median price point of $300,000 and a growth rate of 2.1% over the past year. The population of Lenore stands at 15,000 residents, which has grown by an impressive 7.1%, suggesting that the area is experiencing an influx of new residents and potential homebuyers.
Investment Opportunities and Potential
Investment opportunities within Lenore are promising due to its growing population and stable price appreciation in both housing and apartment sectors. For investors looking at long-term capital gains, single-family homes represent a compelling option given their higher annual appreciation rate. On the other hand, apartments could be an attractive investment for those seeking to enter the market at a lower price point while still benefiting from steady value appreciation. Moreover, with the population on the rise, rental demand is likely to increase, potentially leading to higher rental yields for investment properties.
Future Market Outlook
The future market outlook for Lenore appears optimistic. With a solid population growth rate of 7.1%, there will likely be continued demand for housing which should sustain property value increases. If current trends persist, investors can expect ongoing moderate growth in property values across both houses and apartments. However, it’s essential to monitor local economic factors and development plans that could impact the region’s real estate landscape. Careful consideration of such variables will be crucial for anyone looking to invest or purchase property in Lenore.
