Mafeking, 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
In Mafeking, Manitoba, the real estate market is currently experiencing steady growth. The median house price stands at $500,000, with a positive year-over-year trend of 3.5%. This indicates a healthy demand for housing in the area, reflecting confidence in the local economy and its real estate market. Similarly, the apartment sector shows a consistent increase with a median price of $300,000 and an annual appreciation trend of 2.1%. The town’s population has reached 15,000 residents, with an impressive growth rate of 7.1%, suggesting an influx of new residents and potential for further market expansion.
Investment Opportunities and Potential
The current trends in Mafeking’s real estate market present several investment opportunities. Given the steady appreciation rates for both houses and apartments, investors could expect continued capital gains in the medium to long term. The significant population growth rate far exceeds national averages and signals strong rental demand potential, making income properties particularly attractive. Investors looking to diversify their portfolio could consider both residential and commercial real estate investments to capitalize on the growing local economy.
Future Market Outlook
The future outlook for Mafeking’s real estate market remains optimistic. With a robust population growth rate that is likely to sustain demand for housing, prices are expected to continue their upward trajectory albeit at a moderate pace. However, investors should also factor in regional economic factors, developments in local industries, and infrastructure projects that could influence the market dynamics. Keeping abreast of zoning changes and land use policies will be crucial for those seeking long-term investment returns as these can significantly impact property values.
