Piney, 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 Piney, Manitoba is currently experiencing moderate growth, with the median house price sitting at $500,000, reflecting a 3.5% year-over-year increase. This steady rise indicates a healthy demand for single-family homes in the area. Apartments are also seeing growth, albeit at a slower pace, with a median price of $300,000 and a 2.1% year-over-year increase. The population of Piney has reached approximately 15,000 residents, with an impressive population growth rate of 7.1%. This demographic expansion suggests an ongoing and potentially increasing demand for housing in the near future.
Investment Opportunities and Potential
The current trends in Piney show promising investment opportunities. With both segments of the housing market (houses and apartments) showing consistent appreciation, this could be an opportune moment for investors to enter the market or expand their portfolios. The sustained population growth further boosts investor confidence as it often correlates with increased rental demand—particularly appealing for those looking to invest in apartment units. Considering the lower median price point of apartments compared to houses, there may be potential for higher yields relative to the initial investment.
Future Market Outlook
The future market outlook for Piney, Manitoba remains optimistic based on current trends and data. Assuming that the factors contributing to the current growth remain consistent—such as population increase and economic stability—there is reasonable expectation that both house and apartment prices will continue to rise at a steady pace. It is important for investors and homebuyers alike to monitor any shifts in local economic drivers or policy changes that could impact these projections. However, given the strong fundamentals exhibited by Piney’s real estate market data, it seems poised for continued success over the coming years.
