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
1. Current Market Conditions and Trends
The real estate market in Letellier, Manitoba currently showcases a steady growth pattern. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This trend indicates a healthy demand for housing and a stable investment environment. Similarly, the apartment sector is witnessing growth, with the median apartment price at $300,000 and an annual appreciation rate of 2.1%. The population of Letellier has reached 15,000 residents, which reflects a significant growth rate of 7.1%. This demographic expansion can be correlated with the demand for housing and contributes to the overall market vitality.
2. Investment Opportunities and Potential
Considering the current market trends and population growth, Letellier offers promising investment opportunities in both residential sectors—houses and apartments. Investors can potentially benefit from the continuous appreciation in property values as indicated by the current trends. Single-family homes present a higher growth rate and might offer greater long-term capital gains, while apartments could be an attractive option for those looking for more modest investments with consistent rental income prospects due to increasing local housing demand.
3. Future Market Outlook
The future outlook for Letellier’s real estate market remains optimistic given the strong population growth and upward trends in property values. Assuming that the local economy continues to foster job creation and attract residents, the demand for housing is likely to persist, further driving property prices upwards. However, investors should also consider potential market fluctuations due to broader economic conditions and keep an eye on interest rates as they can influence buyer affordability and real estate market dynamics.
