Plumas, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $505,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $505,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 15,300 |
| Previous Population (2020) | 15,000 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Plumas, Manitoba is currently experiencing steady growth. With the median house price standing at $505,000, there has been a consistent year-over-year increase of 4%. This indicates a healthy demand for single-family homes in the region. The market for apartments is also growing, albeit at a slightly slower pace, with the median apartment price at $310,000 and an annual appreciation rate of 2.5%. The population of Plumas has reached 15,300, which has grown by 2% indicating potential for further housing demand.
Investment Opportunities and Potential
The current trends highlight promising investment opportunities in Plumas. For investors looking into residential real estate, the steady increase in house prices could translate into capital gains over time. Rental properties might also be attractive due to the population growth, suggesting a growing rental market. Apartments seem to offer a more affordable entry point for both homebuyers and investors with a slightly lower appreciation rate that may appeal to those seeking long-term investments rather than quick returns.
Future Market Outlook
Moving forward, the real estate market in Plumas appears poised for continued growth. Assuming that the current economic conditions persist, the positive trend in house and apartment prices is likely to continue. The population growth rate of 2% suggests that there will be an ongoing demand for housing which should support the real estate market’s stability. Investors and homebuyers can look at this data with cautious optimism, taking into account external factors such as interest rates and regional economic development that could affect future market dynamics.
