Thompson, 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 Thompson, Manitoba currently presents a stable environment with moderate growth. With a median house price of $500,000 and an upward trend of 3.5% year-over-year, the market is experiencing steady appreciation. The median apartment price stands at $300,000 with a slower growth rate of 2.1% year-over-year. This divergence in growth rates between houses and apartments may signal a stronger demand for single-family homes in the area.
The population of Thompson has grown to 15,000, reflecting a substantial increase of 7.1%. This demographic expansion contributes to the demand for housing and can be a key driver for future real estate activity. Given these trends, Thompson’s real estate market is currently characterized by increasing prices and a growing population which could lead to tightened inventory levels if new construction does not keep pace with demand.
Investment Opportunities and Potential
Thompson’s real estate market offers promising investment opportunities, particularly in the single-family home sector. The consistent appreciation in house prices suggests that investments made now could yield notable returns as the market continues to grow. The slower growth in apartment prices may attract investors looking for more affordable entry points into the rental market or those betting on long-term appreciation potential.
With the population growth outpacing national averages, there is potential for increased rental demand, especially if the local economy provides employment opportunities that attract newcomers. Investors should monitor economic developments closely as they will directly impact rental markets and property values. Additionally, developers may find opportunities in addressing any potential housing shortages caused by the rapid population growth.
Future Market Outlook
The future outlook for Thompson’s real estate market appears cautiously optimistic. If current trends continue, we can expect further gradual increases in property values across both houses and apartments. The sustained population growth will likely continue to underpin demand for housing; however, it also necessitates careful observation of local economic factors that could influence market dynamics such as employment rates and infrastructure development.
Investors and stakeholders should remain vigilant about any signs that indicate either an overheating market or a slowdown in population growth which could affect liquidity and investment returns. Monitoring interest rate changes and government housing policies will also be crucial as they can significantly impact affordability and investment attractiveness.
In conclusion, Thompson’s real estate market presents a balanced mix of stability and growth potential, making it an attractive option for both homeowners and investors. Ongoing analysis of local conditions will be key to capitalizing on its future opportunities.
