Waskada, 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
The real estate market in Waskada, Manitoba currently exhibits a stable growth pattern. With a median house price of $500,000, the market has experienced a year-over-year increase of 3.5%. This trend suggests healthy demand and a robust housing market that is appreciating at a moderate pace. The apartment sector shows a similar trend with a median price of $300,000 and an annual growth rate of 2.1%, indicating sustained interest in multi-family dwellings.
Waskada’s consistent population growth of 7.1% also supports the upward trajectory of property values. The influx of residents has likely contributed to the steady appreciation of house and apartment prices as the demand for housing increases to accommodate the rising population.
Investment Opportunities and Potential
Given Waskada’s growing population and its current real estate market trends, there are several promising investment opportunities for both residential properties and rental units. The steady appreciation in housing suggests that purchasing property now could lead to significant capital gains in the medium to long term.
Investors might consider acquiring single-family homes which are appreciating slightly faster than apartments at 3.5% per year. However, apartments should not be overlooked as they offer lower entry points at $300,000 and a stable growth rate, making them potentially lucrative for investors targeting a more affordable segment or looking for rental income properties.
With the demographic expansion, there is also potential for new development projects aimed at meeting the housing needs of the increasing population. Investment in real estate development could be rewarding given the current market dynamics.
Future Market Outlook
The future real estate market outlook for Waskada appears optimistic. The consistent population growth observed over recent years is expected to continue driving demand for both ownership and rental properties. Assuming economic conditions remain favorable and the local job market stays robust, it is likely that both house and apartment prices will maintain their upward trends.
The current data indicates that investing in Waskada’s real estate could be beneficial for those looking at long-term asset appreciation. However, potential investors should conduct thorough due diligence and stay informed about local economic developments that could impact the real estate market’s performance moving forward.
