Nesbitt, 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 Nesbitt, Manitoba is currently characterized by steady growth. With a median house price of $500,000 and an annual price increase of 3.5%, the market is experiencing moderate appreciation, suggesting a healthy demand for single-family homes. Meanwhile, the median apartment price stands at $300,000 with a slower growth rate of 2.1% year-over-year. This indicates a more stable but less dynamic market segment for multi-family dwellings.
The population of Nesbitt has seen a significant increase of 7.1%, which can be correlated with the rising demand in the housing market. This demographic expansion is likely contributing to the consistent uptick in property values and may signal continued interest in both buying and renting within the area.
Investment Opportunities and Potential
Investors considering the Nesbitt real estate market may find opportunities in various sectors. The single-family home segment appears robust with its higher growth rate, potentially offering good returns on investment through both capital gains and rental income as demand persists or increases.
The apartment sector, while growing at a more modest pace, presents a lower barrier to entry for investors and could be appealing for those looking to diversify their portfolio or enter the market with less capital. The steady growth in this segment suggests that it could be a solid, lower-risk investment option that might appeal to investors prioritizing stability over rapid growth.
Considering the positive population trend, there may also be potential for development projects to meet the increasing housing needs of the community. This demographic shift could drive future demand for both rental units and residential developments.
Future Market Outlook
The future outlook of Nesbitt’s real estate market appears promising due to its recent performance trends and demographic factors. The continued population growth suggests that demand for housing will remain strong, potentially supporting further property value increases and investment returns.
Should economic conditions remain favourable and infrastructure in Nesbitt continue to develop to support its expanding population, we can expect sustained growth within the real estate market. However, investors should remain vigilant for any shifts in local economic drivers or policy changes that could influence market dynamics.
In conclusion, Nesbitt presents a market with solid growth potential backed by demographic trends. With careful consideration of local factors and ongoing monitoring of economic indicators, investors can make informed decisions when engaging with this active Manitoban real estate market.
