Rockwood, 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 Rockwood, Manitoba, exhibits steady growth and stability. With a median house price of $500,000 and a year-over-year trend showing an increase of 3.5%, the housing sector remains robust. Similarly, the apartment market is also showing positive traction with a median price of $300,000 and a 2.1% rise from the previous year.
This growth corresponds with the area’s overall population increase. Rockwood has seen a notable population growth of 7.1%, suggesting an upward trend in demand for housing. The uptick in prices for both houses and apartments indicates a seller’s market, where demand outpaces supply leading to competitive market conditions for buyers.
Investment Opportunities and Potential
Investors looking at Rockwood will find potential due to the continuous population influx and consistent property value appreciation. Housing as an investment vehicle in this region is compelling considering the 3.5% increase in median house prices over the past year. Apartments represent a more accessible entry point into the real estate market at a lower median price point but still offer stable appreciation at 2.1% year-over-year.
The ongoing population growth not only fuels demand for residential properties but also suggests future needs for retail, commercial, and industrial developments to service the growing community. Therefore, investors might consider diversifying their portfolios to include developments that cater to these emerging demographic needs.
Future Market Outlook
Given Rockwood’s strong economic indicators, including steady population growth and consistent appreciation in property values, the long-term outlook for the real estate market is optimistic. Assuming current trends continue, both housing and apartment markets are likely to remain robust with continued opportunities for capital gains.
However, investors should keep a close eye on economic drivers such as employment rates, infrastructure development, and migration patterns which could impact these trends. Additionally, any changes in interest rates or mortgage regulations could alter affordability and influence the market dynamics.
In summary, Rockwood presents as an attractive market for both residential property buyers and real estate investors. The key will be to monitor local and national economic factors closely to make informed decisions that align with market movements.
