Westbourne, 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 (2025) | 15,000 |
| Previous Population (2020) | 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 Westbourne, Manitoba is currently experiencing stable growth. The median house price in the area is pegged at $500,000, with a year-over-year increase of 3.5%. This consistent appreciation indicates a healthy demand for single-family homes. Similarly, the apartment market is showing positive momentum with a median price of $300,000 and an annual growth rate of 2.1%. These trends suggest that Westbourne’s real estate market has remained resilient and is growing at a steady pace.
Investment Opportunities and Potential
Westbourne’s real estate market presents promising investment opportunities. The steady growth in housing prices points to a strong potential for capital appreciation over time. For investors looking at rental properties, the increasing population, which has grown by 7.1%, implies a rising demand for housing units. Additionally, the gap between the price growth rates of houses and apartments suggests that apartments might offer better investment opportunities for those seeking more affordable entry points into the market with potentially higher yields relative to their value.
Future Market Outlook
Looking forward, the outlook for Westbourne’s real estate market appears optimistic. The robust population growth rate of 7.1% is likely to drive continued demand for housing in both the purchase and rental markets. Given this demographic trend alongside modest yet consistent property price increases, the market is expected to maintain its current trajectory. Long-term investors could benefit from sustainable growth while short-term investors may find flipping homes or developing properties to be lucrative due to the rising property values and demand.
