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
The real estate market in Mafeking, Manitoba currently presents a stable investment environment with moderate growth. The median house price stands at $500,000, having risen by 3.5% year-over-year. This consistent increase reflects a healthy demand for single-family homes in the region.
Apartments in Mafeking are also experiencing a positive trend with the median price at $300,000 and an annual growth rate of 2.1%. This slower pace compared to houses suggests that while there is interest in multi-family dwellings, it is not as robust as that for detached homes.
The local population has seen a significant rise of 7.1%, indicating an influx of new residents and potential for increased housing demand. Overall, market conditions in Mafeking are characterized by steady growth and demand across different housing types.
Investment Opportunities and Potential
The current real estate trends in Mafeking offer several promising opportunities for investors. The growing population, which now sits at 15,000, suggests that both rental and owner-occupied properties will continue to be in demand. Investors may find value in purchasing properties to cater to this expanding demographic.
The more substantial increase in house prices relative to apartments could indicate a particular opportunity for investing in single-family homes which may provide higher capital gains over time. However, apartments should not be overlooked as they offer a more affordable entry point into the market and appeal to individuals or smaller households.
The overall stability of the market coupled with the moderate but consistent growth rates provides an appealing environment for long-term investment strategies.
Future Market Outlook
Moving forward, the Mafeking real estate market shows potential for sustained growth. The notable population increase bodes well for continued demand, potentially pushing prices upward if the current trend persists.
Investors should keep an eye on economic developments within the region that could influence job creation and migration patterns – both key drivers of real estate demand. A diversifying economy or infrastructure improvements could further stimulate market activity and enhance property values.
Cautious optimism is advised due to global economic uncertainties which can affect local markets; however, the current data supports a positive outlook for Mafeking’s real estate market. Vigilance and responsiveness to changing conditions will be crucial for those looking to capitalize on this market’s future movements.
