Medika, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $475,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $475,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| 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 Medika, Manitoba is currently experiencing steady growth. With the median house price sitting at $475,000 and a year-over-year increase of 4%, the market is showing signs of healthy demand. Similarly, the apartment sector is also on an upward trend with a median price of $295,000, which has increased by 2.5% from the previous year. This indicates a balanced growth pattern that extends across different property types.
The population of Medika has grown to 15,500 residents, at a growth rate of 3.3%. This demographic expansion suggests an increasing demand for housing which could be driving the positive price trends observed in both the house and apartment markets.
Investment Opportunities and Potential
Given the steady market appreciation in Medika, investment opportunities appear promising for both residential properties and rental units. The consistent increase in property values offers potential for capital gains over time for investors who are considering long-term holdings.
The growth in population underscores a potential demand for rental properties. Investors can potentially benefit from acquiring apartment complexes or houses to meet this rising rental demand. With apartment prices growing at a slightly slower rate than houses, there may be an opportunity to enter the market at a more accessible price point while still benefiting from market appreciation.
Future Market Outlook
The future outlook for Medika’s real estate market remains optimistic based on current trends. If the population continues to grow at or above the current rate, we can expect sustained demand for housing which should maintain upward pressure on both house and apartment prices.
However, market conditions can be influenced by various external factors including economic changes, interest rates and government housing policies. It is important for investors to stay informed about these factors as they have the potential to impact market dynamics and investment outcomes.
