Vermette, 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 in Vermette, Manitoba
In Vermette, Manitoba, the real estate market has been demonstrating a steady growth with the median house price currently standing at $500,000, reflecting a year-over-year increase of 3.5%. This increment is indicative of a healthy demand for housing in the area, pointing towards a stable and growing market. The median apartment price also echoes this positive trend, being pegged at $300,000 and experiencing a more moderate growth rate of 2.1% over the past year.
The demographic expansion of Vermette is noteworthy as well, with the population having grown by 7.1%, an aspect that contributes to the sustained demand for housing. This demographic trend often signals a robust local economy and an attractive living environment which can further stimulate the real estate market.
Investment Opportunities and Potential in Vermette
The ongoing appreciation in property values presents promising investment opportunities within Vermette’s real estate landscape. With housing prices experiencing consistent growth above inflation rates, investing in residential properties could yield lucrative returns over time. Apartments, while showing slower growth, still offer potential for investors looking for more affordable entry points into the market or for rental income prospects.
Given the solid population increase, there is likely to be continued demand for rental properties, making them an attractive option for investors seeking steady cash flow. Furthermore, as the community grows and potentially attracts more amenities and services, property values may experience further upward pressure.
Future Market Outlook for Vermette Real Estate
Looking ahead, Vermette’s real estate market is poised to maintain its upward trajectory if current trends persist. The town’s robust population growth suggests that demand for housing will remain strong, which could continue to push property values higher. However, prospective buyers and investors should also be mindful of broader economic conditions that could affect interest rates and lending standards as these factors can influence buyer affordability and market dynamics.
Considering these aspects along with ongoing local developments, Vermette’s real estate market appears positioned for sustained growth. Nonetheless, potential investors should conduct thorough due diligence and consider engaging with local real estate professionals to navigate this dynamic market effectively.
