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 (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 Southport, Manitoba currently presents a stable and growing environment. The median house price in the area is $500,000, which has seen a healthy increase of 3.5% over the past year. This growth rate is indicative of a steady market that is likely benefiting from local economic factors and buyer demand.
Similarly, the apartment sector shows positive momentum with a median price of $300,000 and an annual appreciation trend of 2.1%. The slightly lower growth rate in this sector suggests that while there’s interest in multi-family dwellings, it may not be as robust as the single-family housing market.
The population of Southport stands at 15,000 residents with an impressive growth rate of 7.1%. This demographic expansion is a strong driver for housing demand and suggests that the market could maintain or even increase its current pace.
Investment Opportunities and Potential
The combination of solid year-over-year price increases and significant population growth positions Southport as an attractive location for real estate investment. The consistent appreciation in house prices highlights the area’s potential for capital gains over the long term. Additionally, the burgeoning population suggests that rental properties could also be a lucrative investment due to potentially higher demand for leasing accommodations.
Given the current trends, investments aimed at the single-family housing market may promise better returns due to their higher growth rate. However, apartments are also appealing for investors looking to cater to individuals or small families who prefer more affordable housing options or are not yet ready to invest in a home.
Future Market Outlook
The outlook for Southport’s real estate market remains positive based on existing trends and demographic indicators. Should the population continue to grow at or near the current rate of 7.1%, demand for housing is expected to rise correspondingly. This could lead to sustained or increased growth in property values across both houses and apartments.
An important factor that could affect future trends is local economic development. Should Southport attract new businesses or industries that provide employment opportunities, this would further bolster the real estate market through increased demand. Conversely, any downturns in the local economy could temper growth rates.
In conclusion, careful monitoring of both demographic and economic indicators will be essential for accurately forecasting Southport’s real estate trends. Nonetheless, given present conditions, Southport presents itself as an inviting locale for both homebuyers and investors alike.
