Oakburn, 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 Oakburn, Manitoba currently presents a stable environment for potential homeowners and investors. With the median house price sitting at $500,000 and following a year-over-year increase of 3.5%, the market is experiencing moderate growth. This suggests that while prices are on an upward trend, they are not skyrocketing at a rate that could be considered unsustainable or indicative of a bubble.
The apartment sector is showing similar trends with a median price of $300,000 and a year-over-year increase of 2.1%. This slower growth rate compared to houses indicates that apartments may be a more accessible entry point into the housing market for first-time buyers or those with lower investment capital.
The population of Oakburn stands at 15,000 residents, having grown by 7.1%. This growth rate is relatively high and likely contributes to the steady demand for housing in the area, supporting the incremental price increases seen in both houses and apartments.
Investment Opportunities and Potential
Oakburn’s real estate market provides a variety of investment opportunities. The consistent growth in property values reflects a healthy demand for housing which is reinforced by the town’s significant population growth. For investors looking to purchase rental properties, the growing population suggests a potential for strong rental demand, particularly if this growth is fueled by demographics that typically rent, such as young professionals or small families.
In terms of long-term investment, houses might offer better appreciation potential given their higher annual price increase. However, apartments could provide a more affordable investment with reasonable returns through rental income. Given the market’s stability and gradual growth, investors may find Oakburn to be an attractive market for diversifying their real estate portfolio without facing excessive risk.
Future Market Outlook
The future market outlook for Oakburn appears cautiously optimistic. Assuming current trends continue, investors and homeowners can expect ongoing but moderate property value appreciation. The robust population increase will likely continue to support housing demand; however, it is imperative for local authorities and developers to ensure that supply keeps pace with this growing demand to maintain market equilibrium.
If Oakburn can sustain its economic drivers and quality of life factors that contribute to its population growth, the real estate market should remain vibrant. Prospective buyers might want to capitalize on current conditions before prices potentially rise further due to increased demand.
In conclusion, Oakburn’s real estate market shows signs of health through steady growth in both house and apartment prices coupled with substantial population growth. Investors should monitor local developments closely, as any changes in economic conditions or supply constraints could impact these trends significantly.
