Vivian, 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 Vivian, Manitoba
The real estate market in Vivian, Manitoba is currently experiencing a phase of steady growth. The median house price sits at $500,000, having seen a 3.5% increase year-over-year. This reflects a healthy demand for single-family homes in the region and signals a robust market condition. Similarly, the median apartment price is $300,000 with a slightly lower growth trend of 2.1% year-over-year. This difference in growth rates suggests that while the market for apartments is growing, the demand for detached homes is stronger.
Vivian’s population has seen significant growth, increasing by 7.1%. This demographic trend is likely contributing to the current demand for housing and can be expected to continue fueling the real estate market in the short to medium term.
Investment Opportunities and Potential
The real estate market in Vivian presents a variety of investment opportunities. Given the steady climb in house prices, investors might find significant potential in purchasing single-family homes for long-term capital appreciation. Rental properties could also be a lucrative venture considering the population growth, as there may be an increasing demand for rental accommodations.
Furthermore, with apartments experiencing a positive price trend, albeit at a slower rate than houses, there lies an opportunity for investors to enter the market at a more accessible price point. The ongoing population growth implies that rental demand should remain stable or potentially increase, providing an enduring tenant base for apartment investors.
Future Market Outlook
The future outlook of Vivian’s real estate market remains optimistic based on current trends and demographic data. With continued population growth and increasing housing demand, it’s reasonable to anticipate that both housing and apartment prices may continue to rise. However, as with any investment, potential changes in economic conditions or unforeseen events could impact these trends.
Investors and homebuyers should maintain awareness of local economic developments, infrastructure projects that could affect property values, and national policy changes regarding mortgage lending rules or interest rates which can influence buyer activity levels. Vigilance combined with the current positive indicators suggests that Vivian’s real estate market holds promise for sustained growth into the foreseeable future.
