Lundar, 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 Lundar, Manitoba is currently experiencing steady growth. With a median house price of $500,000 and an annual growth rate of 3.5%, the market demonstrates moderate appreciation in property values. Similarly, the median apartment price stands at $300,000, witnessing a slightly lower year-over-year increase of 2.1%. This trend suggests a stable environment for both house and apartment owners.
The population of Lundar has reached 15,000 residents with a notable growth rate of 7.1%, which indicates a robust and expanding community. This population growth can be linked to the demand for housing which in turn may contribute to a continuous rise in property values as supply struggles to meet demand.
Investment Opportunities and Potential
Lundar’s real estate market offers promising opportunities for investors. Given the consistent growth in housing prices and a strong population increase, there is potential for both capital gains and rental income in this market. The current trends suggest that investing in residential properties could yield solid returns over time as demand is likely to be driven up by the growing population.
The market conditions also imply that there could be an opportunity for development projects aimed at increasing housing supply, including both single-family homes and multi-unit apartment buildings. Investors might also explore possibilities in the buy-and-hold strategy, where acquiring properties at current prices could benefit from long-term appreciation and sustained rental demand.
Future Market Outlook
Looking ahead, Lundar’s real estate market appears poised for continued growth. The steady increase in property values aligns with the ongoing population expansion, suggesting that this trajectory is likely to persist into the foreseeable future. Assuming no significant economic disruptions occur, investors and homeowners can anticipate a favorable outlook with respect to their real estate assets.
However, it is essential to monitor key factors such as local employment rates, infrastructure development, and interest rates that may influence the market dynamics. Additionally, keeping an eye on government policies regarding housing and urban planning could provide further insight into future trends within Lundar’s real estate sector.
