Selkirk, 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 Selkirk, Manitoba currently presents a stable environment characterized by steady growth. The median house price stands at $500,000, having experienced a moderate year-over-year appreciation of 3.5%. This increment reflects a healthy demand for housing in the area, likely fueled by the town’s positive economic factors and attractive lifestyle offerings.
In contrast to the single-family home segment, the apartment market has seen a slightly slower pace of growth, with a year-over-year increase of 2.1%, establishing the median apartment price at $300,000. Despite this modest escalation, the multifamily dwelling sector maintains its appeal particularly for smaller households, investors seeking rental properties, and first-time homebuyers looking for more affordable entry points into the housing market.
Investment Opportunities and Potential
The town of Selkirk is experiencing significant population growth, reported at 7.1%, which outpaces many other regions. This influx of new residents drives demand for both rental and owner-occupied housing. Investors might find substantial opportunities in developing or purchasing residential properties to cater to this expanding demographic.
Given the robust population increase coupled with consistent property value appreciation rates, investors can expect a favorable return on investment (ROI) in both housing and apartment markets. Rental properties are especially attractive due to the potential for rental yield growth as demand surges from those who may not be ready or able to buy homes immediately upon relocating to Selkirk.
Future Market Outlook
The future of Selkirk’s real estate market appears promising. The sustained population growth suggests ongoing demand for housing which should buoy property values over time. With current trends indicating gradual and sustainable growth in property prices—3.5% for houses and 2.1% for apartments—it’s reasonable to project that the market will maintain its upward trajectory without the volatility seen in larger urban centers.
Investors should keep an eye on local economic developments and infrastructure projects that could further enhance property values. For homeowners or prospective buyers, Selkirk represents an attractive market for long-term investment with its growing population base and stable appreciation trends offering reassurance against significant fluctuations in market conditions.
