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 is currently characterized by steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%. This indicates a stable and incrementally appreciating housing market. Similarly, the apartment sector is also experiencing growth, albeit at a slightly slower pace with a 2.1% year-over-year increase and a median price of $300,000.
The population of Selkirk stands at 15,000 residents and has been experiencing significant growth at a rate of 7.1%. This demographic shift suggests an increasing demand for housing which could maintain or potentially push the appreciation rates higher due to increased competition for available properties.
Investment Opportunities and Potential
With both the housing and apartment markets showing positive growth trends, Selkirk presents attractive investment opportunities. Investors looking to enter the real estate market would benefit from the stable appreciation rates which indicate potential for capital gains over time. Additionally, the rising population suggests that rental properties may see increased demand leading to potentially higher rental yields.
The current trend towards smaller households or individuals seeking lower maintenance living spaces could make apartments particularly appealing investments. Furthermore, new development projects tailored to meet the needs of the growing population could present lucrative opportunities for those willing to engage in property development ventures.
Future Market Outlook
The future outlook for Selkirk’s real estate market remains optimistic given current trends and underlying demographic factors. If the population continues to grow at its present rate or higher, the demand for housing is likely to sustain or even accelerate current price appreciation trends. The local economy’s health and external factors such as interest rates will also play significant roles in shaping future market conditions.
Investors should remain cognizant of national economic indicators and regional developments that could impact Selkirk’s real estate market. With careful analysis and strategic investment choices, there is potential for robust returns in both residential sales and rental markets in this Manitoba community.
