Nesbitt, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $335,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Nesbitt, Manitoba, currently presents a stable and growing environment. With a median house price of $485,000 that has seen a year-over-year increase of 3%, the market demonstrates modest but consistent growth. Similarly, the median apartment price stands at $295,000, following an upward trend with a 2.5% increase over the past year. These trends reflect a healthy demand within the housing sector.
The town’s population of 15,200 is experiencing a significant growth rate of 4.8%. This surge suggests an influx of new residents and potential buyers, which could be attributed to economic opportunities or lifestyle attractions in the region. The growing population is likely to continue stimulating demand for housing in both purchase and rental markets.
Investment Opportunities and Potential
Investment opportunities within Nesbitt’s real estate market appear promising due to the steady appreciation in property values and robust population growth. Investors looking to acquire properties in this market can expect a healthy return on investment considering the current trends. Residential properties, given their consistent increase in value, offer strong potential for long-term capital gains.
For those interested in rental properties, the increasing population indicates a rising demand for housing. Given the steady growth in apartment prices, investors can anticipate stable rental income with the potential for rent increases over time. Moreover, as more people move to Nesbitt seeking employment or better living conditions, there may be opportunities to develop new residential projects or renovate existing properties to meet the evolving needs of the community.
Future Market Outlook
The future outlook for the Nesbitt real estate market remains optimistic. The continued population growth suggests that demand for housing will persist, potentially leading to further increases in property values. If current economic conditions hold and development progresses at its present pace, investors and homeowners alike can expect ongoing stability and growth in their property investments.
However, it’s important for stakeholders to monitor external economic factors that could impact interest rates, employment levels, and overall affordability within the housing market. Vigilance combined with strategic investment decisions will be key to capitalizing on Nesbitt’s real estate potential in the coming years.
