Lorette, 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 Lorette, Manitoba, currently presents a stable environment with steady growth. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This consistent rise in house prices indicates healthy demand and a competitive market for single-family homes.
Similarly, the apartment sector is experiencing growth with the median apartment price at $300,000, and a slightly lower year-over-year trend of 2.1%. This indicates a more moderate but stable growth for the multi-family dwelling units within the area. The population has reached 15,000 residents, growing at an impressive rate of 7.1%, which may continue to drive housing demand in the region.
Investment Opportunities and Potential
The real estate market in Lorette presents several opportunities for investors. Given the solid population growth rate and consistent price trends for both houses and apartments, the market suggests good potential for long-term capital appreciation. Investments can be diversified across both single-family homes and multi-family units to capitalize on the overall market expansion.
In addition to residential properties, this population surge also suggests potential in investing in rental properties with an expectation of increased rental demand as new residents look for housing options. Furthermore, new development projects could be considered by investors seeking to tap into the growing population’s need for housing.
Future Market Outlook
The future outlook of Lorette’s real estate market appears promising. With steady growth in property values and significant population increases, it is likely that demand for housing will continue to rise. Assuming economic conditions remain favorable and infrastructure development keeps pace with population growth, Lorette’s real estate market should maintain its upward trajectory.
In conclusion, while there are always risks associated with any investment, Lorette’s real estate market data indicates a robust environment that could offer rewarding opportunities for both residential property buyers and real estate investors looking towards future growth.
