Sprague, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $490,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.4% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $490,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,050 |
| Previous Population (2020) | 14,800 |
| Population Change | 1.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Sprague, Manitoba is currently experiencing a steady growth in property values. The median house price in the region stands at $490,000, which marks a year-over-year increase of 3.4%. This steady upswing indicates a healthy demand for single-family homes. The median apartment price is also on the rise at $295,000, with a slightly lower annual growth rate of 2%. The consistent growth in both sectors suggests a balanced development across different types of residential properties.
Investment Opportunities and Potential
With an ongoing upward trajectory in housing prices, Sprague presents attractive investment opportunities for both residential and rental market investors. Single-family homes are particularly promising due to their higher appreciation rate. Additionally, with a population growth rate of 1.7%, there is likely to be sustained demand for housing. Investors looking to enter the rental market can also find potential in apartments given their affordability and appeal to smaller households or those not ready for homeownership.
Future Market Outlook
Looking forward, the Sprague real estate market shows potential for continued growth. The consistent population increase contributes positively to the demand for housing. Assuming no significant economic disruptions occur, the steady climb in property prices is likely to persist. This trend may encourage more developers to invest in new construction projects to meet the growing housing needs, further stimulating the local economy and potentially providing a wider range of housing options for prospective buyers.
