Neepawa, 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
The real estate market in Neepawa, Manitoba is currently experiencing steady growth. With a median house price at $500,000 and an annual appreciation trend of 3.5%, the market is showing signs of healthy activity. Similarly, the median apartment price stands at $300,000, with a slightly lower year-over-year growth rate of 2.1%. This indicates a consistent demand for housing in the area.
The population of Neepawa has reached approximately 15,000 residents, with a robust growth rate of 7.1%. This significant increase in population suggests a potential rise in demand for housing, which could influence both the rental and buyer markets positively.
Investment Opportunities and Potential
Given the steady growth in property values and the burgeoning population, Neepawa presents various investment opportunities. The increase in median house and apartment prices points to a solidifying market that may offer stable returns on investment over time.
Investors might consider purchasing residential properties to cater to the growing housing demand driven by population expansion. Furthermore, as the community grows, there may also be opportunities in commercial real estate development to provide services for the increasing number of residents.
Future Market Outlook
The future outlook for Neepawa’s real estate market appears positive. The sustained population growth coupled with controlled property price appreciation suggests that the market is expanding healthily without signs of overheating. Assuming current economic conditions persist—with low interest rates and continued investment in infrastructure—the outlook remains favorable for both buyers and investors.
However, it’s important to monitor potential economic shifts or policy changes that might affect borrowing costs or alter migration patterns. Investors should also keep an eye on local employment rates and new developments that could impact future property values.
