Wawanesa, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $335,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 6.0 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Wawanesa, Manitoba, is currently experiencing a stable increase in property values. The median house price stands at $485,000, marking a year-over-year growth of 4.2%. This steady upward trend indicates a healthy demand for single-family homes. On the other hand, the median apartment price is pegged at $295,000, with a more modest annual appreciation of 1.9%. The slower growth rate in the apartment sector suggests a different market dynamic when compared to the detached housing segment, potentially due to varying buyer preferences or an abundance of apartment inventory.
Investment Opportunities and Potential
In terms of investment potential, Wawanesa’s real estate market offers promising opportunities. The consistent growth in house prices implies that investments in residential properties may yield solid returns over time. Particularly for investors targeting single-family homes, the stronger appreciation trend presents an attractive scenario. Although apartments are appreciating at a slower pace, they still offer a viable entry point for investors looking for lower initial investment thresholds or seeking to tap into the rental market influenced by Wawanesa’s growing population.
The town’s population has increased by 3.4%, which may continue to drive housing demand and could potentially lead to tighter market conditions if new housing supply doesn’t keep pace. This demographic trend could also open up opportunities for developers and investors to meet the emerging housing needs of the community.
Future Market Outlook
The future market outlook for Wawanesa remains optimistic. Given the steady population growth and consistent appreciation trends observed in both housing segments, it is reasonable to expect that these patterns will persist in the short to medium term, barring any major economic disruptions. The sustained demand is likely to encourage further development and could result in increased property values over time.
Investors should monitor local developments closely, such as infrastructure improvements, new business openings, and policy changes that could impact the market dynamics. Staying informed will be crucial for making strategic investment decisions that align with future market movements in Wawanesa.
