Sundown, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Sundown, Manitoba is currently experiencing steady growth. With a median house price of $500,000 reflecting a year-over-year increase of 3.5%, the market is demonstrating healthy appreciation. Similarly, the median apartment price is at $300,000 and has seen a more modest growth rate of 2.1% over the past year.
This positive trajectory is aligned with Sundown’s population growth of 7.1%, suggesting continued demand for housing in the area. The rise in population is likely contributing to the uptick in property values as more individuals and families seek homeownership or rental options within this community.
Investment Opportunities and Potential
Investors considering Sundown for real estate opportunities may find potential in both residential sectors. The consistent growth in house prices indicates that investment in single-family homes could yield substantial returns over time. Given the strong population growth, rental properties are also an attractive option, with apartments offering a lower barrier to entry at a median price point of $300,000.
The market conditions suggest that there is an ongoing demand for modernized and energy-efficient homes, which could present renovation and flip opportunities for investors. Additionally, with new residents moving into Sundown, there’s an opportunity to develop new residential projects or convert existing structures to meet the increasing housing needs.
Future Market Outlook
Looking ahead, Sundown’s real estate market appears poised for continued growth. Assuming that the trends in population increase maintain their current pace, demand for housing should remain strong. The steady appreciation of property values indicates a robust and resilient market that is likely to continue attracting investors and residents alike.
However, prospective investors and homeowners should monitor local economic factors and infrastructure developments that may influence future property values. Keeping abreast of changes in the job market, commercial expansion, and municipal planning will be key to understanding the long-term health of Sundown’s real estate market.
