Stephenfield, 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 | $450,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $400,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,500 |
| Population Change | 3.5% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Stephenfield, Manitoba, is currently experiencing steady growth. With the median house price at $500,000 and an annual increase of 3.5%, the market is showing healthy appreciation. Similarly, the median apartment price stands at $300,000, with a slightly lower year-over-year growth rate of 2.1%. This indicates a robust housing market that has been attracting homeowners and investors alike.
The population of Stephenfield has been growing at a rate of 3.45%, which is above average and suggests a growing demand for housing in the area. This population growth can be attributed to factors such as job opportunities, quality of life, and Stephenfield’s appeal to both young professionals and families.
Investment Opportunities and Potential
Investors considering Stephenfield have several promising prospects. The continual increase in property values coupled with a significant population growth implies that there is a sustained demand for housing. For those looking to invest in residential properties, the stable appreciation in house prices presents an opportunity for long-term capital gains.
Apartments offer a somewhat more affordable entry point into the market with a median price of $300,000. Although they show a slower appreciation rate at 2.1% year-over-year compared to houses, apartments in Stephenfield could be an attractive option for investors focused on rental income and diversification of their investment portfolio.
Given the ongoing population growth, there is also potential for development projects catered towards meeting the increasing housing demand. New constructions and developments may benefit from incentives if they align with municipal goals for expanding affordable housing options.
Future Market Outlook
The future real estate market outlook for Stephenfield remains optimistic. The consistent rise in home values, coupled with the healthy population growth rate, points towards continued demand and investment potential. Economic stability and quality of living continue to draw new residents to Stephenfield, further supporting real estate values.
However, it is important for investors to monitor local economic trends, interest rates, and government policies that could affect the real estate market dynamics. As with any investment, due diligence is recommended when evaluating specific opportunities within Stephenfield’s property market.
