Southport, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Southport, Manitoba is currently experiencing a steady growth pattern. The median house price stands at $500,000, having risen by 3.5% year-over-year. This indicates a healthy demand for single-family homes in the area, reflecting both the local economic stability and the attractiveness of Southport as a residential community.
Similarly, the apartment market has shown a positive trend with the median apartment price at $300,000, which is up 2.1% from the previous year. These incremental gains suggest a solid and growing interest in multi-family dwellings, which could be driven by first-time homebuyers or investors looking for rental properties.
The population of Southport has reached 15,000 residents with an impressive growth rate of 7.1%. Such demographic expansion is likely fueling housing demand and contributing to the overall market vitality.
Investment Opportunities and Potential
The consistent growth in property values coupled with the robust population increase signals promising investment opportunities in Southport. Investors might find potential in both the single-family home sector and the multifamily unit market due to the consistent appreciation rates observed.
The growing population suggests not only a demand for rental properties but also points towards a possible expansion in retail and commercial real estate sectors as new residents will require services and amenities. Investors should monitor areas poised for infrastructural development or those that might benefit from urban sprawl within Southport.
Considering current trends, investments in properties aimed at younger families or professionals could be particularly fruitful given that they may represent a significant portion of the burgeoning population.
Future Market Outlook
The future outlook for Southport’s real estate market remains optimistic. The continued upward trajectory of house and apartment prices suggests that the market is likely to stay resilient in the near term. Given the strong population growth rate, demand for housing is expected to remain high, potentially leading to further price increases unless supply significantly ramps up.
In light of these factors, both short-term speculators and long-term investors could find rewarding opportunities within this market. However, investors should be mindful of economic indicators and regional policy changes that could impact market dynamics.
To capitalize on future growth, stakeholders should consider engaging with community planning initiatives to ensure sustainable development that can accommodate demographic shifts while enhancing overall property values in Southport.
