Millwood, 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 | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
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
1. Current Market Conditions and Trends
The real estate market in Millwood, Manitoba, remains robust, with median house prices currently sitting at $500,000, indicating a healthy year-over-year growth of 3.5%. This steady increase suggests that the market is experiencing consistent demand, contributing to upward pressure on prices. The median apartment price is also showing growth, albeit at a slower pace, with a current figure of $300,000 and a trend of 2.1% year-over-year.
The population of Millwood has exhibited significant growth at a rate of 7.1%, reflecting the town’s increasing attractiveness to new residents and potential for further economic development. This demographic shift is likely to sustain demand for housing in the near term, contributing to the current seller’s market conditions where supply struggles to keep pace with buyer interest.
2. Investment Opportunities and Potential
In light of Millwood’s expanding population and rising property values, investment opportunities appear promising. Investors might consider capitalizing on the growing demand for single-family homes given the substantial appreciation rate for houses. Additionally, apartments represent a more accessible entry point into the real estate market for investors and may appeal to those seeking rental income amidst an expanding pool of residents who may not be ready or able to purchase property.
With the ongoing population growth, there is potential for both short-term gains through property flipping and long-term wealth accumulation through buy-and-hold strategies. As rental demand is likely to increase alongside population growth, investors could benefit from attractive rental yields in addition to asset appreciation.
3. Future Market Outlook
The future outlook of Millwood’s real estate market appears optimistic due to several key factors. The sustained increase in property values suggests confidence in the local economy and continued investment in infrastructure and services by municipal authorities. Given the strong population growth rate of 7.1%, demand for housing is expected to remain robust, potentially leading to further price increases unless supply significantly ramps up.
In conclusion, investors should monitor local development plans and demographic trends closely as these will influence market dynamics over time. While no investment is without risk, Millwood presents itself as an attractive option for those looking to enter or expand their presence in the Manitoba real estate market.
