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 real estate market in Shorncliffe, Manitoba, currently exhibits stable growth. The median house price is at $500,000, reflecting a year-over-year increase of 3.5%. This steady rise indicates a healthy demand for single-family homes within the area. Similarly, apartments have experienced a growth trend with the median price set at $300,000 and a 2.1% year-over-year increase. These trends suggest a balanced market that maintains consistent appreciation rates.
The population of Shorncliffe has reached 15,000 residents and has seen a notable population growth rate of 7.1%. This rapid expansion indicates a growing demand for housing and could signal future increases in property values as supply strives to meet demand.
Investment Opportunities and Potential
Given the consistent growth in property values and the significant rise in population, Shorncliffe presents promising investment opportunities. The real estate market shows resilience and potential for long-term capital gains, especially for investors looking to cater to the growing demographic.
Investing in residential properties such as single-family homes could be particularly advantageous due to the higher year-over-year increase compared to apartments. Investors may also consider exploring new construction projects or renovations to capitalize on the increasing housing demand fueled by the population growth.
Moreover, rental properties could offer attractive returns given the influx of new residents seeking accommodation. With careful market analysis and strategic location selection, investors can benefit from both rental income and property value appreciation.
Future Market Outlook
The future market outlook for Shorncliffe remains positive with expectations of continued growth. The strong population surge implies that demand for housing will persist, potentially pushing property prices upward. If current trends hold, investors can expect ongoing appreciation in property values in both residential homes and apartment sectors.
Additionally, as Shorncliffe continues to expand its infrastructure and attract new businesses, this could lead to increased employment opportunities further bolstering the real estate market. Prospective buyers are likely to find Shorncliffe an attractive option for both living and investing purposes.
To maximize investment returns, stakeholders should keep abreast of zoning changes, development plans, and economic indicators that may influence the market dynamics in Shorncliffe.
