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 | $420,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Miami, Manitoba is currently experiencing modest growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing steady appreciation. Similarly, the median apartment price stands at $300,000, having risen by 2.1% over the past year. This growth can be attributed to the robust population increase of 7.1%, indicating a strong demand for housing as more residents move into the area.
Investment Opportunities and Potential
Given the steady appreciation in property values, Miami presents several attractive investment opportunities. The consistent rise in housing prices suggests that investments in residential real estate could yield positive returns over time. Moreover, the robust population growth implies a growing rental market, which could benefit investors looking to purchase apartments or houses to rent out. As such, investors should consider this stable market with its potential for both capital gains and rental income.
Future Market Outlook
The future outlook for Miami’s real estate market appears positive. Assuming current trends continue, the combination of steady population growth and subsequent demand for housing is likely to sustain the upward trajectory of property values. Investors can remain cautiously optimistic about the long-term health and growth prospects of Miami’s real estate market. However, as with any investment, it is important to monitor local economic conditions, interest rates, and other factors that could affect market dynamics.
