Letellier, 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 Letellier, Manitoba, is currently experiencing stable growth. The median house price stands at $500,000, with a positive year-over-year trend of 3.5%. This indicates a healthy demand for housing in the area, likely driven by both local factors and broader national economic conditions. Apartments in Letellier are also seeing modest growth, with a median price of $300,000 and an annual appreciation rate of 2.1%. The population of Letellier has reached 15,000 residents and is on the rise with a significant growth rate of 7.1%, suggesting an influx of new residents that could sustain demand for housing.
Investment Opportunities and Potential
Given the steady increase in property values and the robust population growth, Letellier presents appealing investment opportunities. The consistent appreciation in house prices provides investors with the potential for capital gains over time. Moreover, the strong population growth indicates a potential rise in rental demand, which could be lucrative for those considering purchasing properties to lease. Investors should also take note of the more moderate growth in apartment prices, which may offer more accessible entry points into the market while still providing room for reasonable appreciation.
Future Market Outlook
The outlook for Letellier’s real estate market remains optimistic given current trends. If the population continues to grow at the reported rate of 7.1%, demand for housing is likely to remain strong, potentially pushing property values higher. Additionally, as newcomers settle and contribute to the local economy, there may be further development and enhancement of community amenities and infrastructure. This could increase the attractiveness of Letellier as a residential destination and foster even greater market growth. Nonetheless, investors should monitor economic indicators closely, as shifts in interest rates or employment levels could impact market dynamics.
