Narcisse, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $490,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $490,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Narcisse, Manitoba is currently experiencing steady growth. With a median house price of $490,000 and a year-over-year increase of 4%, the market demonstrates stability and consistent appreciation. Similarly, the median apartment price stands at $295,000, which has seen a slightly lower growth rate at 2.5% year-over-year.
This growth can be partly attributed to the area’s population increase, with recent statistics showing a 3.3% rise in inhabitants. This influx is likely contributing to the demand for housing, thereby supporting the upward trend in property values.
Investment Opportunities and Potential
For investors considering Narcisse’s real estate market, there are several opportunities worth noting. The steady increase in house prices indicates a healthy investment environment for residential properties. Given that the growth rate for apartments is somewhat slower than that of houses, apartments could present an opportunity for investors looking to enter the market at a lower price point while still capitalizing on the overall positive trend.
Additionally, the population growth suggests a potential for rental investments as newcomers may look for temporary accommodation before purchasing homes. Investors should also consider the impact of local economic development projects and infrastructure improvements which may further stimulate real estate values in the coming years.
Future Market Outlook
The future outlook for Narcisse’s real estate market appears promising. Assuming that current trends continue alongside population growth, it is reasonable to expect ongoing demand for housing which should sustain property value increases. The 3.3% population growth rate hints at a burgeoning community that will likely require additional housing and services.
Moreover, assuming no major economic disruptions occur locally or nationally, investors could foresee continued moderate growth in both house and apartment prices. However, it is advisable for those interested in investing to keep abreast of local economic policies and developments that could influence market dynamics.
In conclusion, Narcisse presents itself as an attractive market with stable growth and investment potential, particularly for those looking at long-term horizons. As always, potential investors should conduct thorough due diligence and consult with real estate professionals before making any financial commitments.
