Lyleton, 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 Lyleton, Manitoba is experiencing steady growth. With a median house price of $500,000, the market has seen a respectable year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes and suggests that the local housing market is relatively stable.
In the apartment sector, the median apartment price sits at $300,000, displaying a modest year-over-year growth of 2.1%. This slower growth rate compared to houses may reflect a different demand dynamic in the local market or could indicate an abundance of supply in multi-family housing units.
The population of Lyleton stands at 15,000 and has grown by an impressive 7.1% recently. The influx of new residents to Lyleton could be driving the housing demand, thus contributing to the upward trend in property values.
Investment Opportunities and Potential
The consistent growth in property values, coupled with significant population increases, presents attractive opportunities for real estate investors in Lyleton. Single-family homes have shown robust appreciation and are likely to be a sound investment given the current 3.5% growth trend. Investors should consider this segment for long-term capital gains.
Apartments offer a lower entry point at $300,000 with a 2.1% growth rate. While appreciation is more modest, investors might find opportunities in rental properties due to potential demand from newcomers who are not yet ready to purchase homes. Additionally, as the population grows, so does the potential for rental income to increase over time.
Developers might also see potential in building new housing units to accommodate the growing population. Given the population growth rate of 7.1%, there appears to be an ongoing need for both single-family and multi-unit dwellings.
Future Market Outlook
The future real estate market outlook for Lyleton is optimistic based on current trends and data. If population growth continues at its current pace, housing demand is expected to remain strong, which should support further price increases both for houses and apartments.
Investors and homebuyers can likely anticipate continued market stability and gradual appreciation in property values. It will be important for stakeholders to monitor economic factors that could influence migration patterns and employment rates as these will impact long-term real estate performance in Lyleton.
In conclusion, while no market is without risk, Lyleton’s real estate market shows positive indicators for sustained growth and investment potential based on current statistics and trends.
