Stlazare, 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 | $420,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| 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 St. Lazare, Manitoba currently presents a stable environment, with the median house price standing at $500,000, showing a healthy year-over-year increase of 3.5%. This steady growth indicates a consistent demand for housing in the area. The apartment sector also reflects an upward trend, albeit at a slower pace, with the median apartment price at $300,000 and an annual appreciation of 2.1%. These figures suggest that while houses are currently experiencing more significant price acceleration, the market for apartments remains resilient and is growing steadily.
Investment Opportunities and Potential
The investment landscape in St. Lazare is promising given its current market dynamics. With a population of approximately 15,500 residents, which has grown by 3.3% recently, there is an increasing need for residential properties to accommodate this influx. Investors might find opportunities both in purchasing single-family homes that appeal to the growing demographic and in developing or investing in multi-family units that could cater to those seeking apartments.
The differing appreciation rates between houses and apartments may suggest a strategic opportunity; investors can take advantage of the higher growth rate in houses for short-term gains while considering apartments for long-term stability and rental income potential. As the population continues to expand, demand is likely to increase for rentals as well as properties available for purchase.
Future Market Outlook
The future outlook for St. Lazare’s real estate market appears optimistic based on current trends and demographic indicators. Continued population growth at an annual rate of 3.3% will likely maintain or even increase demand for housing within the region, suggesting that property values may continue their upward trajectory.
The sustained growth of both median house and apartment prices implies that the local real estate market is moving towards becoming more robust and potentially lucrative for investors who enter early enough to capitalize on these trends. Prospective buyers and investors should monitor key factors such as local economic developments, interest rates, and national real estate policies that could affect market conditions moving forward.
