Oakburn, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.6% |
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 | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
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
In Oakburn, Manitoba, the real estate market has been exhibiting a steady growth trajectory. The median house price in the area currently stands at $485,000, reflecting a year-over-year increase of 3.2%. This increment is indicative of a healthy demand in the housing market segment. Similarly, apartment prices have seen a rise, with the median value now at $295,000, which is up by 2.5% over the past year.
The population of Oakburn has been growing at a substantial rate of 4.8%, now reaching approximately 15,200 residents. This population growth can be attributed to both natural increase and migration, suggesting an expanding workforce and consumer base, factors that typically contribute positively to real estate demand.
Investment Opportunities and Potential
Given the consistent appreciation in property values in Oakburn, investment opportunities appear to be promising for both residential and rental markets. The ongoing upward trend in house and apartment prices signals potential for capital gains for investors over the medium to long term.
The considerable population growth also presents an opportunity for investors looking to enter the rental market. As new residents seek accommodation, demand for rental properties is likely to increase. This could potentially drive rental yields higher and provide a steady income stream for investors.
Moreover, with housing prices experiencing moderate but stable increases, Oakburn offers a less volatile investment environment compared to markets with sharp price fluctuations. This stability is often favorable for investors who prioritize predictable growth patterns.
Future Market Outlook
The outlook for Oakburn’s real estate market appears optimistic based on current trends and demographic indicators. If the population continues to grow at its current pace or accelerates due to economic development initiatives, housing demand is expected to remain strong.
The sustained increase in property values points towards a continued seller’s market where supply is likely to struggle to keep up with demand. However, this could also mean reduced affordability for first-time homebuyers unless wage growth accompanies rising property prices.
Investors should monitor potential economic developments in the area that could influence migration patterns and employment opportunities, as these will significantly impact future real estate dynamics in Oakburn.
