Riverton, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| 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
In Riverton, Manitoba, the real estate market has been experiencing steady growth. The median house price currently stands at $485,000, marking a year-over-year increase of 4%. This indicates a healthy appreciation in property values in the area, which is slightly above the national average. Similarly, the median apartment price has risen to $295,000, with a slightly lower growth rate of 2.5% year-over-year.
This positive trend is supported by Riverton’s growing population, which has recently reached approximately 15,000 residents, with a robust growth rate of 3.4%. Such demographic expansion is often a precursor to increased demand for housing, suggesting that the upward pressure on property prices may continue in the short to medium term.
Investment Opportunities and Potential
The consistent rise in property values coupled with ongoing population growth signifies that Riverton holds promising investment opportunities. For investors looking at long-term capital gains, purchasing residential properties such as single-family homes could be particularly attractive due to the stronger appreciation trend observed in this segment. Additionally, the more moderate growth in apartment prices suggests potential for rental investments as more people moving into the area could boost demand for multi-family dwellings.
Given the current market conditions, investors should also consider emerging neighborhoods or areas slated for future development within Riverton. These locations may offer properties at lower entry points and have substantial upside potential as the town expands and infrastructure improves.
Future Market Outlook
The future outlook for Riverton’s real estate market remains optimistic. With an ongoing population increase and economic factors supporting housing demand, both the residential and apartment markets are expected to maintain their upward trajectory. However, it is important to monitor local economic developments and infrastructure projects that could influence future market dynamics significantly.
Investors and potential homebuyers should keep an eye on policy changes or interest rate adjustments by the Bank of Canada that may impact borrowing costs. Although price escalation is currently manageable, sustained increases could eventually lead to affordability concerns, which might necessitate regulatory interventions aimed at cooling the market.
In summary, while there are always uncertainties in projecting future trends, current indicators suggest that Riverton’s real estate market will continue to offer worthwhile investment opportunities for those with a strategic approach to property acquisition and management.
