Vermette, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 15,000 |
| Population Change | 1.3% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Vermette, Manitoba is currently experiencing steady growth. With a median house price of $485,000, the market has seen a 4% year-over-year increase, indicating healthy demand and appreciation of residential property values. Similarly, the median apartment price stands at $295,000 with a more modest year-over-year growth of 2.5%. These trends are representative of a stable and gradually expanding market.
The population in Vermette has reached 15,200 and continues to grow at a rate of 1.33% annually. This steady increase in residents suggests sustained demand for housing will likely continue. The local economy’s stability, coupled with population growth, underpins the progressive appreciation in property values.
Investment Opportunities and Potential
For investors considering Vermette’s real estate market, there are promising opportunities particularly in the residential sector. The consistent rise in housing prices reflects a market that has potential for capital gains over the long term. Investment in single-family homes could be particularly attractive given their 4% price increase trend, which outpaces that of apartments.
Apartments offer a more accessible entry point into the real estate market with a median price significantly lower than that of houses. Given the growing population and subsequent rental demand, investing in apartments could provide investors with stable rental income streams alongside the modest capital appreciation evidenced by the 2.5% annual price uptick.
In addition to direct property investments, there may also be opportunities to invest in real estate development projects which could benefit from the region’s population growth and economic stability.
Future Market Outlook
Foresight into Vermette’s real estate market remains optimistic. Population growth is projected to continue at a similar or possibly accelerated rate, bolstering demand for both ownership and rental properties. Assuming no major economic disruptions occur, both sectors of the housing market are expected to maintain their current trajectories.
The consistent year-over-year price increases for houses and apartments suggest that Vermette will remain an appealing location for both homebuyers and investors alike. While external factors such as interest rates and national economic health can influence local markets, current indicators support a positive outlook for Vermette’s real estate market over the coming years.
To capitalize on this anticipated growth, potential investors should consider both short-term cash flow strategies through rental properties and long-term capital investment through property acquisition before prices escalate further.
