Oakbank, 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 in Oakbank, Manitoba
The real estate market in Oakbank, Manitoba, is currently characterized by steady growth. With a median house price sitting at $500,000 and witnessing a year-over-year increase of 3.5%, the market is showing consistent appreciation. This growth trend extends to the multi-family segment as well, where the median apartment price has reached $300,000 and is growing at a slightly more modest rate of 2.1% year-over-year.
Oakbank’s population stands at 15,000 residents and has seen a significant population growth of 7.1%, which is considerably higher than the national average. This demographic expansion is an indicator of a robust local economy and potential for increased demand in the housing market.
Investment Opportunities and Potential in Oakbank, Manitoba
The positive trajectory of property values combined with substantial population growth suggests that Oakbank holds promising investment opportunities. Investors looking to capitalize on the single-family home market can expect continued appreciation given the current trend. Similarly, the apartment sector offers potential for both rental income and capital gains due to the steady increase in median prices.
The high rate of population growth can also be seen as an opportunity for the development of new housing units to meet the rising demand. This could be particularly appealing for developers and investors interested in creating new residential projects or refurbishing existing properties to cater to the needs of a growing community.
Future Market Outlook for Oakbank, Manitoba
The future real estate market outlook for Oakbank appears optimistic. If current trends persist, investors and homeowners can anticipate ongoing appreciation in property values. The robust population growth serves as a strong foundation for sustained demand in both the housing and rental markets.
However, it’s important for stakeholders to monitor external economic factors that could impact interest rates and borrowing costs, potentially affecting buyer affordability and influencing market dynamics. Assuming stable economic conditions, Oakbank’s real estate market is likely to remain an attractive area for both living and investment purposes over the coming years.
In conclusion, Oakbank’s real estate market demonstrates healthy growth patterns with positive indicators for future stability and expansion. Prospective buyers and investors should consider these trends when making decisions but remain vigilant regarding broader economic shifts that could alter this forward momentum.
