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
The real estate market in Oakbank, Manitoba is currently experiencing steady growth. With a median house price of $500,000, there has been a year-over-year price increase of 3.5%, indicative of a healthy demand for single-family homes. The median apartment price stands at $300,000 with a growth trend of 2.1% over the past year. This growth reflects an expanding market that is attracting both buyers and sellers alike.
Contributing to these conditions is Oakbank’s population, which has reached 15,000 and continues to grow at a rate of 7.1%. This above-average population growth is fueling housing demand, resulting in competitive market dynamics that benefit property owners and investors looking for appreciating assets.
Investment Opportunities and Potential
Oakbank presents several attractive investment opportunities. The consistent rise in property values suggests a strong potential for capital gains over the long term. Single-family homes, being the most sought-after property type as indicated by the higher median house price growth rate compared to apartments, appear to be particularly promising for investors targeting this segment of the market.
Apartments offer an alternative investment opportunity with slightly more modest year-over-year growth. However, given their lower entry price point at $300,000 and increasing rental demand driven by population growth, they represent a viable option for investors focused on rental income or those looking for a more affordable entry into the real estate market.
Future Market Outlook
Looking ahead, the future market outlook for Oakbank remains optimistic. The sustained population increase is likely to continue supporting real estate demand, especially if local economic conditions remain favorable and attract new residents seeking employment and quality living standards.
The current trends suggest that both house and apartment prices may continue their upward trajectory, albeit at a pace that reflects the balance between affordability for buyers and return on investment for sellers. As with any market, potential fluctuations due to external economic factors should be considered by those participating in the Oakbank real estate landscape.
In conclusion, Oakbank represents a stable yet growing market with significant potential for both residential living and investment opportunities. Stakeholders are advised to monitor local developments closely to make informed decisions in this dynamic environment.
