Mccreary, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.5% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in McCreary, Manitoba, is currently characterized by modest growth. The median house price stands at $485,000, with a year-over-year increase of 2.8%. This suggests a stable market with consistent demand. Similarly, the median apartment price is $295,000, which has seen a slightly lower year-over-year trend of 2%. These figures indicate that while growth is present across the housing types, it remains tempered and sustainable.
The population of McCreary has grown to 15,000 residents, reflecting a robust growth rate of 3.45% which potentially contributes to the steady housing demand. This demographic expansion can be attributed to various factors such as employment opportunities in the area or an attractive lifestyle proposition offered by the town.
Investment Opportunities and Potential
Given the steady growth in property values and population, McCreary presents itself as a potentially lucrative market for investors. The current trends suggest that properties are appreciating at a healthy pace without indications of an overheated market—an ideal situation for long-term investment strategies.
With apartment prices showing a positive trend as well, investors might consider the multi-family housing sector for steady rental income and capital appreciation potential. In addition to direct property investment, there may also be opportunities in developments catering to newcomers or in upgrading existing properties to meet a higher standard expected by an increasing population.
Future Market Outlook
The future real estate market outlook for McCreary is cautiously optimistic. With ongoing population growth and consistent property value increases, the market appears to be on a stable upward trajectory. If current trends persist, investors and homeowners alike can expect continued appreciation in property values.
It will be important to monitor factors such as local economic performance and interest rate changes that could impact buyer affordability and thus influence the market dynamics. However, assuming no major economic disruptions occur, McCreary’s real estate market should remain a promising area for both residential living and investment purposes over the coming years.
