Warren, 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 Warren, Manitoba, the real estate market is currently experiencing steady growth. The median house price stands at $500,000, which represents a year-over-year increase of 3.5%. This indicates a healthy demand for houses in the area, suggesting that the market conditions are favorable for sellers while still offering room for buyers to enter the market without facing exorbitant price escalations.
Apartment prices are following a similar upward trend, albeit at a slower pace. With a median apartment price of $300,000 and an annual growth rate of 2.1%, the apartment segment offers a more accessible entry point into the real estate market for first-time buyers or investors looking for smaller properties.
The local population has grown by 7.1%, signaling a robust community expansion that underpins the housing demand. A growing population typically brings with it increased demand for housing, supporting both property values and rental market stability.
Investment Opportunities and Potential
Investors considering Warren can find potential in both housing and apartment markets, given their respective growth rates. The steady increase in median house prices suggests that investments in residential properties could yield solid returns over time. Rental properties may also benefit from the population growth, as new residents may look for temporary accommodation before purchasing homes.
The apartment sector’s lower entry cost and positive growth trend offer an attractive opportunity for investors seeking long-term capital appreciation and rental income. Given Warren’s expanding population and continuous price increases, investing in multi-unit residential buildings could be particularly promising.
Future Market Outlook
The future real estate market outlook for Warren, Manitoba appears positive. With sustained population growth and consistent upward trends in property values, the market dynamics suggest longevity in its current trajectory. Assuming no significant economic disruptions occur, Warren’s real estate market is poised to continue its growth pattern.
Investors should monitor local economic developments, infrastructure improvements, and employment trends as these factors will influence future property values and demand. Additionally, staying abreast of national economic policies that affect mortgage rates or taxation could further inform investment strategies in Warren’s burgeoning market.
