Niverville, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.3% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 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 | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Niverville, Manitoba is currently experiencing a period of moderate growth. With the median house price standing at $485,000, there has been a year-over-year increase of 3.3%. This growth rate suggests a steady demand for housing that is in line with national economic conditions. The median apartment price is slightly lower at $295,000, showcasing a less pronounced but still positive trend at 2% growth over the past year. This differential in growth between houses and apartments may indicate a higher demand for single-family homes in Niverville.
The population of Niverville has reached 15,200 residents, showing a significant upward trend with a growth rate of 4.8%. This strong population growth is likely contributing to the healthy demand for housing in the area and underpins the current market trends observed.
Investment Opportunities and Potential
Given the steady rise in property values and the robust population growth, Niverville presents an array of investment opportunities. The consistent increase in housing prices suggests that investment in residential properties could yield favorable returns over time. Investors looking to enter the rental market may find potential in purchasing apartments due to their lower entry cost and solid appreciation rate.
With population numbers on the rise, there is an increasing demand for both rental and owner-occupied properties. New developments catering to this influx could be particularly lucrative. Moreover, given the town’s ongoing expansion, there may also be opportunities for commercial real estate investments to serve the growing community.
Future Market Outlook
The future real estate market outlook for Niverville appears promising. Assuming the continuation of current economic conditions and population trends, it is reasonable to anticipate sustained demand for housing within the region. The steady price appreciation of both houses and apartments bodes well for long-term investment stability.
However, investors should remain cautious and consider potential risks such as economic fluctuations or changes in local policies that could impact growth rates. Keeping abreast of broader provincial and national economic indicators will also be crucial in forecasting any shifts in market dynamics that might affect Niverville’s real estate landscape.
In conclusion, while current indicators point towards a positive trajectory for Niverville’s real estate market, investors are encouraged to conduct thorough due diligence and maintain a watchful eye on both local and broader economic signals moving forward.
