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, is currently experiencing moderate growth in housing prices. With the median house price sitting at CAD 500,000, the market has seen a year-over-year increase of 3.5%. This suggests that the market is enjoying a steady but manageable appreciation in property values. On the other hand, apartments are displaying a slower growth rate, with a median price of CAD 300,000 and a 2.1% year-over-year uptick. These trends indicate a balanced market where both buyers and sellers can find opportunities.
Given Thompson’s modest population of 15,000, which has grown by an impressive 7.1%, demand for housing may start to outpace supply if this growth continues, potentially leading to increased property values over time. This population surge could be driven by new employment opportunities or regional developments attracting residents to Thompson.
Investment Opportunities and Potential
With steady growth in property values and an expanding population base, Thompson presents several attractive investment opportunities. The sustained increase in median house prices suggests that single-family homes could be solid long-term investments. Furthermore, the slower growth rate in apartment prices could offer an entry point for investors looking to cater to individuals or small families who prefer more affordable housing options.
The current market conditions also suggest that there might be potential for rental investments. As the population grows, so does the need for rental accommodations. Investors may consider acquiring properties to meet this demand—especially apartments that have shown slower price increases compared to houses—potentially allowing for competitive rental pricing while still benefiting from property value appreciation.
Future Market Outlook
The future outlook of the real estate market in Thompson appears promising given the strong population growth and consistent increases in property values. Should the town continue to attract residents at its current rate or higher, it is reasonable to expect both continued appreciation in real estate prices and sustained demand for housing.
In addition to residential properties, there may also be opportunities in developing or investing in local infrastructure and amenities to support the growing population. However, investors should remain mindful of economic factors such as employment rates and regional development plans that could influence the trajectory of both population growth and real estate trends.
In conclusion, Thompson’s real estate market holds potential for both residential property investors and those interested in tapping into rental markets due to its steady price growth and significant population increase. As with any investment decision, thorough market analysis and monitoring of ongoing economic factors will be key to capitalizing on opportunities within this Manitoba community.