Reston, 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 Reston, Manitoba is currently experiencing stable growth, indicated by a moderate increase in property values. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This trend suggests a healthy demand for single-family homes, which aligns with the town’s rising population and its appeal to families looking for residential stability.
In contrast, the median apartment price is $300,000, with a slightly lower year-over-year increase of 2.1%. This could be indicative of a more saturated apartment market or a preference for detached homes among the local populace. Nonetheless, the growth rate remains positive, pointing towards a steady market without any sharp fluctuations that might concern investors or residents.
Investment Opportunities and Potential
With Reston’s population growing at an impressive rate of 7.1%, there is an increasing demand for housing that presents lucrative investment opportunities. The continuous rise in house prices suggests that investing in residential properties could yield significant returns in both rental income and capital appreciation over time. The steady growth pattern presents an opportunity for investors to enter a market that is not overheated and promises sustainable growth.
Apartments offer a different kind of investment potential, especially attractive to those interested in catering to young professionals or smaller families who may prefer the flexibility and affordability of apartment living. As the population expands and diversifies, apartments could see increased demand, making them an attractive option for both long-term rentals and resale purposes.
Future Market Outlook
The future outlook for Reston’s real estate market appears promising. Given the solid population growth and consistent upward trend in property values, it is likely that the demand for housing will continue to rise. This bodes well for both homebuyers looking for long-term value retention and investors seeking growth opportunities.
Foresight into infrastructure developments, economic diversification plans, and community building initiatives would further refine predictions but based on current data alone, Reston seems poised for continued real estate market success. Stakeholders should monitor key indicators such as employment rates, interest rates, and government housing policies as they can significantly influence market dynamics.
In conclusion, Reston offers a stable environment conducive to both living and investing in real estate, supported by promising trends and demographic growth. With careful consideration of macroeconomic factors and localized market conditions, stakeholders can make informed decisions to capitalize on Reston’s burgeoning real estate potential.
