Melita, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $487,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $487,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| 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
In Melita, Manitoba, the real estate market is currently experiencing a steady increase in property values. With a median house price of $487,000 and an annual growth trend of 3%, the market is showing resilience and positive momentum. The median apartment price stands at $295,000, which has risen by 1.5% over the past year. This growth is indicative of a healthy demand for housing in the area, supported by a robust population growth rate of 3.4%, bringing the total population to 15,000 residents.
Investment Opportunities and Potential
The investment landscape in Melita presents substantial opportunities, particularly considering the consistent appreciation in property values. Single-family homes represent a solid investment vehicle with their above-average price growth rate. Apartments also offer potential for investors looking for lower entry points into the market or seeking rental income opportunities with lower maintenance responsibilities.
The steady population increase suggests a burgeoning demand for housing, which may lead to higher rental occupancy rates and potential for rental income growth. Investors should consider both short-term gains from property value appreciation and long-term income from rentals as strategic advantages inherent in Melita’s real estate market.
Future Market Outlook
The outlook for Melita’s real estate market remains optimistic based on current trends and demographic indicators. Should the population continue to grow at its current rate of 3.4%, demand for housing is likely to sustain or even increase, potentially driving up property values further.
The moderate yet consistent house price trend suggests that the market is not overheating but rather growing at a sustainable pace. This indicates a lower risk of sudden market corrections or volatility, making it an attractive location for both first-time homebuyers and seasoned investors who prioritize stability in their investment portfolio.
