Lockport, 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 Lockport, Manitoba, is currently experiencing moderate growth. With a median house price of $500,000, the year-over-year increase stands at 3.5%. This indicates a steady upward trend in housing values, suggesting a stable market that is potentially attractive to homeowners looking for long-term appreciation. Similarly, the median apartment price of $300,000 reflects a gentler growth trajectory with a 2.1% increase year-over-year. This slower rate of appreciation for apartments could be indicative of a more saturated market or a shift in buyer preferences towards single-family homes.
Lockport’s population has shown significant growth at 7.1%, which is likely contributing to the demand for housing and underpinning the current price trends. This demographic trend suggests that the local economy may be expanding, potentially leading to increased demand for both rental and owner-occupied properties.
Investment Opportunities and Potential
The sustained population growth combined with consistent property value appreciation presents several investment opportunities in Lockport. For those looking to invest in single-family homes, the steady increase in median house prices offers potential for capital gains over time. Moreover, the growing population implies a larger pool of renters and buyers, which could translate into robust rental income streams for investors targeting the multifamily segment.
While apartments are appreciating at a slower rate than houses, they represent an opportunity for investors seeking more affordable entry points into the real estate market or diversifying their portfolios with lower-cost assets. Additionally, the lower appreciation rate might suggest room for value-add strategies that could enhance returns through property improvements and management efficiencies.
Future Market Outlook
The future outlook for Lockport’s real estate market appears optimistic given its current trajectory and underlying demographic trends. Assuming the continuation of current population growth rates, demand for housing should remain strong. This bodes well for both home values and rental rates moving forward.
However, it is essential to monitor external economic factors such as interest rates, employment levels, and broader economic conditions that could influence market dynamics. Investors and potential homeowners should also stay informed about local development plans, infrastructure improvements, and any regulatory changes that could impact property values.
In summary, Lockport presents as a market with sound fundamentals characterized by stable growth in housing prices and positive population trends. While current conditions favor investment in single-family homes due to higher appreciation rates, apartments offer viable opportunities particularly if targeted value enhancement strategies are employed. The future outlook remains favorable but should be approached with an eye on wider economic indicators and local developments.
