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 | $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 in Shilo, Manitoba
In Shilo, Manitoba, the real estate market has been displaying steady growth. The median house price currently stands at $500,000, with a year-over-year increase of 3.5%. This uptick in prices reflects the overall health of the housing market in Shilo and mirrors national trends of rising real estate values. Similarly, the median apartment price has seen a growth rate of 2.1% year-over-year, indicating a consistent upward movement in property values across different types of residential real estate. The current price for a median apartment is $300,000.
The population in Shilo has grown by 7.1%, which may be contributing to the increased demand for housing and consequently the rise in property prices. With a population now standing at approximately 15,000, Shilo is experiencing demographic changes that are likely influencing the local real estate market.
Investment Opportunities and Potential in Shilo, Manitoba
For investors looking at Shilo, Manitoba, the data presents several opportunities. The continued growth in house and apartment prices suggests that investing in residential properties could yield positive returns. Given the strong population growth rate of 7.1%, there is potential for increased rental demand, making both houses and apartments attractive options for those looking to invest in rental properties.
The steady increase in property values also indicates room for capital appreciation over time. Investors could benefit from purchasing properties with the intent of holding them long-term as both living spaces and investment assets are appreciating at a healthy pace.
Future Market Outlook for Shilo, Manitoba
Looking ahead, the future market outlook for Shilo appears promising. If current trends persist, such as population growth and increasing property values, it is reasonable to anticipate that the real estate market will remain robust. The sustained rise in median house and apartment prices points towards a market that is growing steadily rather than rapidly overheating.
The economic stability of the region alongside demographic factors such as population growth should continue to underpin demand for housing. As long as these factors remain favorable, Shilo’s real estate market is poised for ongoing expansion and could represent a wise investment choice for both short-term gains through resale or rental income and long-term capital appreciation.
While this analysis provides an optimistic view based on current statistics, potential investors should also consider external economic factors that might impact the broader Canadian real estate market, which can filter down to smaller markets like that of Shilo.
