Miami, 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 | $450,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 6.0 |
| Land Area (km²) | 2,500.0 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Miami, Manitoba currently exhibits steady growth, with the median house price standing at $500,000, showcasing a year-over-year increase of 3.5%. The apartment sector also reflects positive momentum with a median price of $300,000 and a 2.1% growth rate over the past year.
This growth is likely influenced by the town’s increasing population, which has risen by 3.4%, indicating a robust demand for housing. Given the current trends, both sectors—single-family homes and apartments—appear to maintain their value and offer stability to homeowners and investors alike.
Investment Opportunities and Potential
For investors considering Miami, Manitoba, the current market conditions suggest several potential opportunities. The continuous population growth implies a steady demand for housing, which could benefit landlords and real estate developers. The consistency in property value appreciation outlines an attractive environment for long-term investment strategies.
The single-family home market presents an opportunity for both rental income and capital gains due to its higher annual appreciation rate of 3.5%. On the other hand, the apartment sector offers a more accessible entry point for investment at a lower median price point while still providing a respectable appreciation trend of 2.1% per year.
Future Market Outlook
Looking ahead, the real estate market in Miami, Manitoba is poised for continued growth. The town’s growing population suggests sustained demand that could drive further development and price appreciation in the housing market. With historical trends as an indicator, both houses and apartments are expected to retain their upward trajectory in value.
In light of these insights, it would be prudent for investors to consider diversifying across different types of properties to capitalize on various market segments. Moreover, staying informed about local economic drivers and potential infrastructure developments will be critical in making well-informed investment decisions.
