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
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.
