Shorncliffe, 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 Shorncliffe real estate market is currently experiencing a phase of steady growth. The median house price in the region stands at $500,000, showing a healthy year-over-year increase of 3.5%. This indicates a stable market with consistent demand for detached homes. Similarly, the apartment sector has also seen appreciable growth, with median prices at $300,000 and a slightly lower growth rate of 2.1% year-over-year. This disparity between house and apartment price growth may signal greater demand for single-family homes.
The population of Shorncliffe has experienced significant growth, with an increase of 7.1%, bringing the total population to approximately 15,000. This demographic expansion is a positive sign for the local real estate market as it often correlates with increased housing demand.
Investment Opportunities and Potential
The positive trends in population growth and housing price appreciation suggest that Shorncliffe represents a promising area for real estate investment. The steady rise in property values provides an opportunity for capital gains over time. Investors may find particular value in the single-family home market, given its higher growth rate relative to apartments.
Ongoing developments in infrastructure and amenities, aligned with population growth, could further enhance property values, indicating potential for long-term investment returns. Moreover, rental properties may offer attractive yields given the increasing population and potential demand from those not ready or unable to enter the housing market.
Future Market Outlook
Looking forward, the Shorncliffe real estate market appears poised for continued growth. Factors such as ongoing population increases and the current trajectory of housing prices suggest a healthy market outlook. Assuming these trends continue, both homeowners and investors can anticipate sustained property value appreciation.
However, it is essential to monitor external economic factors that could impact interest rates and borrowing costs, potentially affecting buyer affordability and thus influencing market dynamics. Keeping abreast of local development plans will also be crucial in anticipating areas within Shorncliffe that are likely to experience the greatest growth in property values.
In conclusion, Shorncliffe’s real estate market shows signs of vitality and potential for future growth. Prospective buyers and investors should consider this area’s solid fundamentals when making their real estate decisions.
