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Winnipeg, Manitoba Real Estate Market Data

Updated: Nov 2024

House

Median price $499,000
Monthly growth 1.1%
Quarterly trend 3.2%
Stock on market 0.8%

Apartment

Median price $295,000
Monthly growth 0.8%
Quarterly trend 2.5%
Stock on market 1.1%

Prices by Number of Bedrooms

Houses

Bedrooms Median Price
2 bedrooms $420,000
3 bedrooms $499,000
4 bedrooms $620,000

Apartments

Bedrooms Median Price
1 bedrooms $240,000
2 bedrooms $320,000
3 bedrooms $420,000

Demographics

Current Population (2024) 750,000
Previous Population (2019) 740,000
Population Change 1.4%
Total Private Dwellings 300,000
Occupied Private Dwellings 280,000
Population Density (per km²) 2.5
Land Area (km²) 464.1

Market Analysis





Winnipeg Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Winnipeg, Manitoba, is currently experiencing steady growth. With a median house price of $499,000 and an annual increase of 3.2%, the market is demonstrating resilience despite economic pressures that have affected other regions more significantly. Similarly, apartments are showing a consistent uptrend with a median price of $295,000 and a yearly growth rate of 2.5%. This suggests a stable demand for housing in the region.

Winnipeg’s population stands at 750,000 residents with a healthy growth rate of 1.35% per annum. This ongoing population increase is likely contributing to the sustained demand for housing. The city’s affordability compared to larger Canadian markets continues to make it an attractive destination for both families and professionals.

Investment Opportunities and Potential

For investors considering the Winnipeg real estate market, there are promising opportunities across various segments. The consistent rise in property values suggests potential for capital gains over the long term. Residential properties, particularly single-family homes, have shown robust price appreciation and may offer solid investment prospects.

The apartment sector also presents investment potential given its year-over-year price trend. Rental properties could be particularly lucrative due to the ongoing population growth leading to increased rental demand. Additionally, as a mid-sized city with expanding economic sectors, Winnipeg may provide more affordable entry points into the property market compared to larger metropolitan areas.

Future Market Outlook

Looking ahead, the future outlook for Winnipeg’s real estate market appears cautiously optimistic. Given the steady climb in housing prices and continuous population growth, there is an expectation for ongoing demand. However, external economic factors such as interest rates and employment levels will play a significant role in shaping the market’s trajectory.

As long-term investment horizons typically smooth out short-term volatility, Winnipeg’s real estate market could be well-positioned for those with patient capital. Should the economic fundamentals remain stable, and if infrastructural development keeps pace with population growth, Winnipeg’s real estate market may continue to offer promising opportunities for both homebuyers and investors alike.