Otterburne, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.8% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $570,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Otterburne, Manitoba, has been experiencing steady growth in property values. With a median house price of $485,000, there has been a year-over-year increase of 2.8%. This trend indicates a relatively stable market with modest appreciation rates for homeowners. In contrast, the median apartment price stands at $295,000, showing a slightly lower year-over-year growth of 1.8%. The apartment market’s more moderate increase suggests that it may be more accessible to first-time buyers or investors looking for lower entry points into the property market.
2. Investment Opportunities and Potential
Otterburne offers promising investment opportunities given its population growth rate of 3.3%, which may drive demand for housing. The consistent rise in property values provides investors with the potential for capital gains over time. As the median house price is significantly higher than that of apartments, investors might find greater potential for yield in multi-unit residential properties. Moreover, the growing population could also signal a need for rental properties, presenting an opportunity for investors to meet this demand.
3. Future Market Outlook
The future outlook for Otterburne’s real estate market appears optimistic given the solid population increase and steady price growth trends. If the current annual population growth rate persists, the housing demand is likely to remain strong, which could further drive property appreciation and stimulate construction activity in both residential and commercial sectors. Investors and homebuyers should monitor local economic developments closely, as these will play a pivotal role in shaping the long-term trajectory of Otterburne’s housing market.
