Morris, 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
Current Market Conditions and Trends
In Morris, Manitoba, the real estate market is currently experiencing a period of steady growth. The median house price in the region stands at $500,000, reflecting a year-over-year increase of 3.5%. This trend indicates a healthy demand for single-family homes, which may be attributed to the area’s quality of living and community appeal.
Similarly, the apartment sector has shown resilience with a median price point of $300,000 and a growth trend of 2.1% over the past year. This slower rate of increase compared to houses suggests a more moderate market but still points towards positive momentum in multi-family dwellings.
The population of Morris is currently around 15,000 and has seen a significant growth rate of 7.1%. Such demographic expansion can be indicative of an increasing demand for housing and potential market pressure that could drive future price appreciation.
Investment Opportunities and Potential
Considering the consistent upward trajectory in both housing and apartment prices, Morris presents appealing investment opportunities for both residential properties and rental units. Investors can potentially benefit from capital gains in the medium to long term due to the sustained growth rates.
The population increase has a twofold implication: it suggests not only potential for rental property demand but also an expanding customer base that would support ancillary services like retail, healthcare, and education sectors. Consequently, this could lead to broader investment opportunities beyond direct real estate into commercial properties that serve the growing community.
Future Market Outlook
The future outlook for Morris’s real estate market remains optimistic given current trends. The steady climb in property values is supported by robust population growth, which is likely to continue promoting housing demand. As long as economic conditions remain stable and interest rates are managed effectively to avoid pricing out potential buyers, Morris’s market should maintain its health.
An important factor that may influence future market dynamics is local economic development initiatives that attract new businesses or promote job creation. These activities could further stimulate the housing market by attracting new residents seeking employment opportunities within Morris.
Overall, prospective buyers and investors should monitor key indicators such as interest rates, employment rates, and regional economic policies closely to make informed decisions about entering or expanding their presence in the Morris real estate market.
