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 is currently experiencing steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market shows healthy appreciation in property values. Similarly, the median apartment price has risen to $300,000, marking a 2.1% increase from the previous year. This growth is reflective of a robust local economy and increasing demand for housing.
The population of Starbuck has reached 15,000 residents and is growing at a rate of 7.1%. This significant population growth is contributing to the increased demand for housing in the area and suggests a trend towards urbanization and potential expansion of housing developments.
Investment Opportunities and Potential
Given the consistent rise in property values and population growth, Starbuck presents attractive investment opportunities for both residential and commercial real estate investors. The steady increase in house prices indicates a strong potential for capital gains over time, making it an appealing option for long-term investments.
In addition to residential properties, the population increase may lead to higher demands for retail spaces, offices, and other commercial properties. Investors looking to diversify their portfolios might consider exploring these avenues to capitalize on the town’s economic growth.
Future Market Outlook
The future outlook for the Starbuck real estate market remains positive. Based on current trends of population growth and property value appreciation, it is anticipated that demand for housing will continue to rise. This suggests that the market may maintain its upward trajectory in terms of property prices and rental rates.
However, investors should monitor local economic factors and development plans that could impact supply and demand dynamics. An increase in new construction could potentially balance or exceed market demand, affecting price trends. Staying informed on zoning changes, infrastructure projects, or significant commercial developments will be crucial for accurate forecasting.
