Rivers, 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 Rivers, Manitoba currently presents a stable environment with consistent growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This indicates a healthy demand for single-family homes, likely driven by the appeal of Rivers as a community and its amenities.
In contrast, the apartment sector shows a more moderate growth pattern, with the median apartment price at $300,000 and an annual appreciation of 2.1%. This suggests that while there is interest in multi-family dwellings, the market is advancing at a steadier pace compared to houses.
The population of Rivers has reached approximately 15,000 residents, accompanied by a significant population growth rate of 7.1%. This demographic expansion supports the ongoing demand for housing and contributes to the vitality of the local real estate market.
Investment Opportunities and Potential
The positive trends in housing prices coupled with robust population growth underscore Rivers as an attractive destination for real estate investment. The steady increase in house prices indicates room for potential capital gains for investors looking at single-family homes. Given the less aggressive appreciation rate in apartments, investors might also consider this sector for long-term income potential and diversification.
With population growth outpacing many other regions, new developments and housing projects may offer opportunities for developers and investors alike. Rental properties could also see increased demand as the population expands, potentially leading to higher rental yields over time.
Future Market Outlook
The future market outlook for Rivers appears optimistic based on current indicators. Should the population continue to grow at or near the current rate of 7.1%, demand for housing is likely to remain strong. Both residential sectors—houses and apartments—are expected to maintain upward price trajectories, although houses may exhibit more significant appreciation given recent trends.
Investors should be cognizant of economic factors that could influence these projections, such as employment rates, regional economic developments, and interest rates. However, assuming stability in these areas, Rivers’ real estate market seems poised for continued growth and offers promising avenues for investment.
