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
As of the latest data, Petersfield, Manitoba presents a stable real estate market with a healthy growth in property values. The median house price stands at $500,000, which reflects a year-over-year increase of 3.5%. This increment suggests a steady demand for single-family homes and indicates a robustness in this segment of the housing market.
In comparison, the median apartment price is currently $300,000, with a slightly lower year-over-year growth rate of 2.1%. This difference in growth rates between houses and apartments may signal varying levels of demand or could reflect a greater supply of apartments relative to houses in the area.
The local population has reached 15,000 residents and has seen an impressive growth rate of 7.1%. This rapid population increase is likely contributing to the demand for housing and helping to sustain property value appreciation.
Investment Opportunities and Potential
The consistent growth in both house and apartment prices suggests that Petersfield holds promising investment opportunities. The steadiness in the housing market, combined with significant population growth, positions Petersfield as an attractive locale for both residential property investors and developers looking to cater to an expanding community.
The higher growth rate for house prices indicates that single-family homes may be particularly ripe for investment, offering potential for capital gains. However, the growing population also underscores the need for diverse housing options, which could make investments in multi-unit residential properties such as apartments equally enticing.
Future Market Outlook
The future real estate market outlook for Petersfield is optimistic given the current trends and underlying demographic shifts. If the population continues to grow at its current pace, demand for housing is likely to remain strong. Assuming economic conditions remain favorable and no significant changes occur in local industry or employment rates, both segments of the market—houses and apartments—are expected to maintain their upward trajectory in terms of prices.
Investors should monitor potential factors such as interest rate changes, economic policies affecting home ownership affordability, or infrastructural developments, all of which could influence future property values. Nonetheless, given the present data points and trends, Petersfield stands out as having solid fundamentals for continued real estate market health.
