Kearney, Ontario 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Kearney, Ontario is currently experiencing steady growth. The median house price stands at $500,000, showing a year-over-year increase of 3.5%. This suggests a healthy level of demand and a competitive market environment for single-family homes. Similarly, the median apartment price is $300,000, with a more modest year-over-year increase of 2.1%. The smaller increase in apartment prices may indicate a slightly softer market segment compared to houses.
The population of Kearney has grown to approximately 15,000 residents, reflecting a significant growth rate of 7.1%. This demographic trend supports the ongoing demand for housing in the area and potentially contributes to the upward pressure on property values.
Investment Opportunities and Potential
The investment climate in Kearney is promising due to its consistent property value appreciation and growing population. Single-family homes have shown robust appreciation and may offer investors strong potential for capital gains. Rental properties are also attractive investments given the population growth, which could drive demand for rental units.
For investors looking at long-term capital appreciation or rental income, properties in Kearney should be considered as part of a diversified real estate portfolio. The stability in price trends indicates that the market has not experienced extreme volatility recently, making it an appealing option for both seasoned and new investors.
Future Market Outlook
The future outlook for Kearney’s real estate market remains optimistic. With sustained population growth at 7.1%, the demand for housing is likely to continue driving property values upward. The current trends suggest that both house and apartment prices will continue to rise, albeit at a measured pace.
Investors can look forward to potential growth opportunities as Kearney’s market is bolstered by demographic trends and local economic factors. However, it is essential to monitor economic indicators closely, as changes in interest rates, employment levels, and regional economic development can impact market dynamics.
In conclusion, Kearney’s real estate market presents an appealing mix of stability and growth potential that should be attractive to investors with various risk appetites. Prudent investment strategy coupled with attentive market observation may yield favorable returns in this Canadian locale.
