Limestone, 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 Limestone, Manitoba is currently experiencing steady growth, with the median house price sitting at $500,000, reflecting a year-over-year increase of 3.5%. This suggests a healthy demand for houses in the area, likely driven by the local economic factors and the overall attractiveness of Limestone as a place to live. Similarly, apartments have seen a positive trend with the median price reaching $300,000, which is up 2.1% from the previous year.
Limestone’s population has grown by an impressive 7.1%, pushing the total to 15,000 residents. This significant population growth may contribute to a sustained demand for housing, as more people look to settle in this community.
2. Investment Opportunities and Potential
The investment landscape in Limestone appears promising based on current trends. The consistent increase in property values indicates a stable market that could benefit investors seeking long-term capital appreciation. With houses appreciating at a faster rate than apartments, there is potential for higher returns on investment in single-family homes.
However, the rise in apartment prices, coupled with substantial population growth, also points to an opportunity for those looking to invest in multi-family dwellings or develop rental properties. As the population continues to expand, there will likely be increased demand for affordable and accessible living spaces.
3. Future Market Outlook
The outlook for Limestone’s real estate market remains optimistic given the current trends and data points. If the area’s population continues to grow at or near the current pace of 7.1%, demand for housing should remain robust. This demographic shift could sustain or even increase the current growth rate of property values over the coming years.
The data suggests that both housing and apartment sectors are poised for continued growth. Investors looking at long-term horizons might find Limestone an attractive market due to its steady performance and potential for further expansion. Nonetheless, it’s essential to monitor local economic developments and any changes in housing policies that could affect future market conditions.
