Starbuck, 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 Starbuck, Manitoba currently presents a stable growth pattern. The median house price stands firm at $500,000, with a healthy year-over-year increase of 3.5%. This suggests a sustained demand for single-family homes and a competitive market environment that benefits sellers.
Similarly, the apartment market is experiencing steady growth with the median apartment price reaching $300,000 and noting a year-over-year rise of 2.1%. This moderate appreciation rate indicates that the market for apartments is expanding at a measured pace, which may appeal to first-time homebuyers or investors looking for more affordable entry points into the property market.
Investment Opportunities and Potential
Given the population of Starbuck has recently grown by 7.1%, now standing at 15,000, there is evident potential for investment in residential properties to accommodate this influx. The consistent upward trend in housing prices points towards a robust market where investors could expect continued appreciation on their assets over time.
The relatively slower growth rate in apartment prices compared to houses suggests that there may be untapped potential in multi-family dwellings or developments aimed at individuals seeking more affordable housing options. Investors might also explore opportunities in rental properties, as an increasing population usually drives demand for rental units.
Future Market Outlook
The future outlook for Starbuck’s real estate market remains optimistic. The strong population growth paired with steady price increases provides a solid foundation for ongoing investment and development. Assuming no significant economic disruptions occur, Starbuck can anticipate sustained expansion within its property markets.
Investors should monitor local economic drivers such as employment rates and infrastructure projects which could further bolster market growth and create new investment avenues. Additionally, staying informed about national real estate trends and monetary policy changes will be crucial in predicting shifts in mortgage rates and affordability that could impact future market dynamics.
