Wawanesa, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $390,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Wawanesa, Manitoba
The Wawanesa real estate market is currently experiencing stable growth, as indicated by the median house price of $485,000, which has risen by 2.8% over the past year. This moderate increase reflects a healthy demand in the housing sector and suggests that the market is responding positively to economic stimuli in the area.
Meanwhile, the apartment sector is also showing a steady upward trend with a median price set at $295,000, marking a 1.9% year-over-year increase. This growth, although slightly slower than that of the housing market, indicates an ongoing interest in more affordable and potentially more flexible living options among residents.
The population of Wawanesa stands at 15,200 and has seen an encouraging growth rate of 2.7%. The increasing population is a likely driver for sustained demand in both housing and apartment markets, as new residents seek accommodation in the region.
Investment Opportunities and Potential in Wawanesa
The current market conditions suggest that there are promising investment opportunities within Wawanesa’s real estate sector. The consistent growth trends indicate a stable environment where investments can mature over time. For investors looking towards the residential property market, the upward movement in house prices can be taken as a positive sign for potential capital gains.
Apartments offer a different kind of opportunity; with their lower entry cost and appeal to individuals such as young professionals or small families, they present potential for rental income as well as resale value appreciation. Investors might find this sector particularly attractive due to its accessibility and prospects for long-term occupancy rates fueled by population growth.
Future Market Outlook for Wawanesa Real Estate
The future market outlook for Wawanesa appears cautiously optimistic. Given the steady growth rates in both housing prices and population numbers, we can anticipate continued demand for real estate in this region. Assuming that local economic conditions remain favorable and supportive infrastructure developments are underway, it is reasonable to predict that both median house and apartment prices may continue their upward trajectory.
In light of these factors, it’s vital for potential investors to consider long-term trends rather than short-term fluctuations. With careful analysis and strategic planning, investments made today could yield significant returns down the line as Wawanesa continues to grow and attract new residents.
In conclusion, whether one is looking to invest in single-family homes or apartments, the Wawanesa real estate market holds considerable potential for those with a forward-looking perspective on property investment.
