Otterburne, 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 Otterburne, Manitoba
The real estate market in Otterburne, Manitoba, is currently characterized by steady growth. The median house price in the area stands at $500,000, which marks a 3.5% increase from the previous year. This indicates a stable market with moderate appreciation for homeowners and investors alike. Similarly, the median apartment price has seen a rise to $300,000, growing at a slightly lower rate of 2.1% year-over-year.
Favorable market conditions are also reflected in Otterburne’s demographic trends. With a population of 15,000 that has grown by 7.1%, the community is experiencing a significant influx of residents. This suggests an increasing demand for housing which could support the continued health of the real estate market. Additionally, the population growth may be indicative of broader economic opportunities within the region that are drawing new residents.
Investment Opportunities and Potential in Otterburne
The current trajectory of Otterburne’s real estate market provides fertile ground for investment opportunities. The consistent appreciation in property values offers potential for capital gains over time. The robust population growth implies an ongoing need for housing, which could benefit both residential property investors and developers.
Investors considering purchasing rental properties may find particular value in the apartment sector with its 2.1% annual price increase trend. Despite being lower than that of houses, this steady growth coupled with a rising population suggests a stable rental demand which may result in dependable rental income streams.
Furthermore, as new residents continue to move into Otterburne, ancillary businesses and services will likely expand, potentially creating opportunities for commercial real estate investments as well.
Future Market Outlook for Otterburne Real Estate
Looking ahead, the future market outlook for Otterburne remains positive based on current indicators. Assuming that factors such as economic stability and population growth persist along their current trends, one can anticipate continued moderate appreciation in property values.
In light of these factors, cautious optimism is advised for those considering entering into or expanding their holdings within the Otterburne real estate market. It would be prudent for potential investors to keep an eye on both local economic policies and national economic indicators that could influence interest rates and affordability – two key drivers that can have profound impacts on real estate markets.
As always with real estate investments, due diligence is crucial; however, given current trends and conditions, Otterburne presents itself as a market with sound prospects for both short-term gains and long-term investment growth.
