Narcisse, 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 Narcisse, Manitoba, the real estate market is currently experiencing steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%. This indicates a stable demand for housing in the region. Similarly, the median apartment price stands at $300,000 and has grown by 2.1% over the past year. Such incremental growth in both housing sectors suggests a balanced market that is attractive to both buyers and sellers.
The local population has risen to 15,000, an impressive growth rate of 7.1%, which may be contributing to the increased housing demand. This demographic expansion can be linked to various factors such as employment opportunities, lifestyle preferences, and the area’s overall appeal to both young professionals and families.
Investment Opportunities and Potential
The positive trends in population growth coupled with steady appreciation in property values indicate that Narcisse holds significant potential for real estate investment. The continuous increase in property prices reflects a market with robust investment opportunities, especially for those looking to invest in long-term capital gains.
Given that both housing and apartment prices are on an upward trajectory, investors may find value in purchasing rental properties to cater to the growing population. Furthermore, the relatively moderate price increase year-over-year suggests that there could be room for further growth before reaching a pricing peak, providing a window of opportunity for investors to enter the market.
Future Market Outlook
Looking ahead, Narcisse’s real estate market is poised for sustained growth. The strong population growth serves as a key indicator of future demand for housing. If current demographic trends continue, it is likely that the demand for both houses and apartments will remain robust, potentially leading to further price increases.
However, prospective buyers and investors should also consider external economic factors such as interest rates and regional employment rates which can influence affordability and impact market dynamics. A careful analysis of these elements combined with current trends suggests that Narcisse’s real estate market may continue on its upward path but could face challenges if broader economic conditions change.
As always, it’s advisable for buyers and investors to conduct thorough due diligence and consider obtaining professional advice before making any significant real estate decisions.
