Melita, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $290,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $550,000 |
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 | 3.5% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Melita, Manitoba is currently experiencing steady growth. The median house price in the region sits at $485,000, with an upward trend of 3.2% year-over-year. This indicates a healthy demand for residential properties, aligning with the overall provincial market trends.
Apartments are also seeing a positive trend, albeit at a slightly lower rate. The median apartment price stands at $290,000, marking a 1.9% increase year-over-year. The smaller increment suggests a more stable but less dynamic market segment for apartments compared to houses.
The population of Melita has grown to 15,000, with an impressive growth rate of 3.45%. This demographic expansion contributes to the increasing housing demand and supports the observed price trends.
Investment Opportunities and Potential
Melita presents several promising opportunities for real estate investors. Given the consistent rise in median house prices and population growth, investing in residential properties could yield considerable returns in the medium to long term. The ongoing population increase implies sustained demand, which is likely to keep driving property values upward.
The slower pace of growth in apartment prices indicates a potential market segment for investors seeking more affordable entry points into real estate investment or those looking to capitalize on rental income from a workforce that may prefer lower-cost housing options.
Future Market Outlook
The future outlook of Melita’s real estate market appears positive. The combination of steady population growth and current economic stability suggests that both house and apartment prices may continue to rise at a sustainable pace.
As long as the local economy remains robust and supportive governmental policies are in place, it is reasonable to expect that Melita will maintain its trajectory as an attractive location for both residential living and investment opportunities. Investors should monitor regional economic indicators and infrastructure developments closely, as these factors will be critical in shaping future market performance.
