Woodridge, 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 Woodridge, Manitoba, currently presents a stable growth environment. With a median house price of $500,000 and an appreciative trend of 3.5% year-over-year, the market is experiencing healthy expansion. Meanwhile, the median apartment price is set at $300,000, with a slower growth rate of 2.1% year-over-year. This difference in growth rates suggests a stronger demand for houses over apartments.
The population of Woodridge stands at 15,000 residents and has seen a significant increase with a growth rate of 7.1%. This demographic expansion is likely contributing to the demand for housing and underpinning the steady price increases observed in the market.
Investment Opportunities and Potential
Given the current trends, investment opportunities in Woodridge are favorable, particularly in the single-family home sector which is outpacing apartments in terms of price growth. The steady population rise implies an ongoing demand for housing which could benefit long-term investors focused on rental properties or those looking to buy and hold real estate assets.
For investors considering entering the apartment market, the slower growth rate may indicate more competitive pricing opportunities compared to houses. There’s potential for rental demand amongst individuals or smaller households who prefer apartment living or are seeking more affordable housing options.
Future Market Outlook
The future outlook for Woodridge’s real estate market appears promising based on current indicators. Assuming the population continues to grow at or near the current rate of 7.1%, housing demand is expected to remain robust. This demographic momentum could support sustained property value appreciation and provide ongoing opportunities for both homeowners and investors alike.
However, prospective investors should monitor economic factors such as employment rates, interest rates, and regional development plans that could impact market dynamics. A diversified approach that includes both homes and apartments may be wise to mitigate risk while capitalizing on different segments within Woodridge’s expanding market.
