Steinbach, 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 Steinbach, Manitoba currently presents stable growth as evidenced by the consistent rise in property values. The median house price stands at $500,000, which marks a 3.5% year-over-year increase. This is indicative of a healthy demand and a robust market that has managed to maintain an upward trajectory despite broader economic conditions.
Apartments, another significant segment of the Steinbach real estate market, have also seen an appreciation in value with the median price at $300,000 and exhibiting a more modest 2.1% year-over-year growth. The disparity in growth rates between houses and apartments may reflect a higher demand for single-family homes or a potential for increased apartment value in the future.
With a population of 15,000 and an impressive growth rate of 7.1%, Steinbach’s demographic trends are likely to continue fueling demand for housing. These statistics suggest that the real estate market is supported by both population growth and economic stability.
Investment Opportunities and Potential
The ongoing rise in property values, coupled with the significant population expansion, underscores the potential for investment in Steinbach’s real estate. Single-family homes remain a compelling option for investors seeking capital gains given their stronger year-over-year price increase. However, the slower growth in apartment prices may present an attractive entry point for investors looking for long-term appreciation and rental income, particularly as demand is expected to grow alongside the population.
Investors should also consider the broader economic environment in Steinbach and how it may impact rental markets. A growing workforce and potential increases in migration to the city could bolster demand for rental properties, thereby enhancing opportunities for investors focused on this sector.
Future Market Outlook
The outlook for Steinbach’s real estate market remains positive. The strong population growth suggests that demand for housing will continue to rise. Assuming that economic conditions remain stable or improve, both housing and apartment markets are expected to maintain their upward trends.
Investors can be cautiously optimistic about capitalizing on Steinbach’s growth momentum. It would be prudent for stakeholders to monitor local development plans, changes in interest rates, and other economic indicators that could influence the market dynamics.
In summary, while no market is without risks, Steinbach offers promising prospects based on current patterns. Stakeholders should conduct thorough due diligence to align their investment strategies with both current trends and potential future shifts in the local real estate landscape.
