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Virden, 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






Virden, Manitoba Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Virden, Manitoba, is currently experiencing a stable growth trend. With the median house price at $500,000, there has been a year-over-year increase of 3.5%, indicating healthy demand and a strong market for sellers. Similarly, the median apartment price stands at $300,000, with a slightly slower growth rate of 2.1% year-over-year. This suggests that the market for apartments is also expanding, albeit at a more modest pace compared to houses.

The population of Virden has seen an impressive increase of 7.1%, which is likely contributing to the demand for housing in the area. The consistent population growth suggests a vibrant community with potential for economic expansion and increased demand in the housing sector.

Investment Opportunities and Potential

Given the steady rise in property values and the significant population growth, Virden presents several attractive investment opportunities. The consistent appreciation in house prices points towards a strong potential for long-term capital gains for investors looking to enter the residential market. Furthermore, the increase in apartment prices, though less robust than houses, still offers investors a chance to capitalize on rental income in a growing market.

With the local economy likely to benefit from the expanding population, there may also be potential for development projects that cater to this new influx of residents. This could include new residential construction, commercial real estate ventures, and investment in infrastructure or community amenities.

Future Market Outlook

The future real estate market outlook for Virden appears positive based on current trends. If the population continues to grow at its current rate or higher, it can be expected that both demand and prices for housing will continue their upward trajectory. However, potential investors should also consider external factors such as economic policies, interest rates, and regional developments which could impact these trends.

In summary, if Virden maintains its favorable conditions—namely its economic stability and population growth—the real estate market should remain resilient with promising opportunities for both homebuyers and investors alike.