Shilo, 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 | $420,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.5% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 6.0 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Shilo, Manitoba currently presents a stable growth environment with median house prices sitting at $500,000, reflecting a year-over-year increase of 3.5%. This gradual appreciation indicates a healthy demand in the housing sector, aligning with broader national trends of rising real estate values. Concomitantly, the median apartment price has reached $300,000, which has experienced a slightly lower year-over-year growth rate of 2.1%. This disparity suggests that houses are in higher demand relative to apartments, potentially due to consumer preferences or demographic needs.
The population of Shilo shows a robust growth rate of 3.45%, surpassing many other regions. This demographic expansion can be attributed to various factors such as economic opportunities, lifestyle attractiveness, and regional developments that are drawing new residents and retaining current ones.
Investment Opportunities and Potential
With median house prices steadily increasing and a strong population growth rate, Shilo presents significant investment opportunities. The consistent rise in property values suggests potential for capital gains over the long-term for investors who enter the market now. Particularly, single-family homes appear to be leading the growth trend and may offer more substantial returns given their higher appreciation rate compared to apartments.
Additionally, as the population continues to grow, there will likely be increased demand for rental properties. Investors could seize this opportunity by acquiring rental units that cater to various segments of the market, including families and professionals moving to Shilo for work or lifestyle reasons.
Future Market Outlook
Looking ahead, the future market outlook for Shilo’s real estate is cautiously optimistic. The foundational indicators—population growth and steady property appreciation—suggest that the local real estate market may continue on its upward trajectory. However, as with any investment forecast, it is essential to monitor external economic factors such as interest rates, employment levels, and regional economic development projects that could impact housing demand and affordability.
If current trends persist and no significant economic headwinds arise, investors could reasonably expect continued moderate growth in property values. Nonetheless, prudent investors should remain vigilant about changes in the market conditions that might affect their investment decisions and return expectations.
