Petersfield, 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 Petersfield, Manitoba, the real estate market is currently characterized by moderate growth. The median house price in the area stands at $500,000, with a year-over-year increase of 3.5%. This indicates a steady demand for housing in the region, reflecting a healthy market that is not experiencing overheating.
The apartment sector shows a more modest growth pattern, with the median apartment price at $300,000 and an annual appreciation trend of 2.1%. This slower rate of growth compared to houses suggests that apartments are potentially more accessible to first-time buyers and investors looking for lower entry points into the real estate market.
Petersfield’s current population is approximately 15,000 residents, which has recently seen a robust growth rate of 7.1%. This demographic expansion is likely contributing to the sustained demand for housing and could be indicative of a burgeoning local economy that is attracting new residents.
Investment Opportunities and Potential
The steady increase in property values, combined with significant population growth, presents notable investment opportunities in Petersfield. For investors considering long-term capital gains, single-family homes represent a viable option due to their consistent appreciation.
Apartments in Petersfield also offer investment potential with their more affordable pricing and increasing demand, particularly among younger demographics and smaller households looking to enter the housing market or seeking rental accommodations.
The current trends suggest that investing in properties aimed at middle-income earners could be particularly strategic. These segments seem poised for continued demand given the population growth and economic factors driving people to the area.
Future Market Outlook
The future outlook for Petersfield’s real estate market appears positive. Assuming the continuation of current economic conditions and population trends, it is reasonable to expect sustained growth in property values. However, it should be noted that external factors such as changes in interest rates, economic policies, or unforeseen global events could impact this forecast.
The strong population growth rate implies that demand for housing will likely persist. As such, both the house and apartment markets should remain robust with potential for further development projects to accommodate the increasing population size.
It is advisable for investors and potential homebuyers to monitor local economic developments closely as they can affect employment rates, income levels, and consequently the real estate market. Nevertheless, given Petersfield’s recent performance and trends, the market presents promising prospects for those looking to invest or establish residency in this Manitoba community.
