Kenilworth, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $315,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $265,000 |
| 2 bedrooms | $365,000 |
| 3 bedrooms | $475,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Kenilworth, Ontario, the real estate market is currently experiencing steady growth. The median house price stands at $525,000 with a year-over-year price trend increase of 4%. This indicates a healthy, appreciating market for single-family homes in the region. Similarly, the median apartment price is $315,000, which has grown at a slightly lower rate of 2.5% year-over-year. This difference in growth rates suggests that while the apartment market is also expanding, houses are in higher demand and potentially offer greater capital appreciation for property investors or homeowners.
The population of Kenilworth has seen a substantial growth of 4.8%, which can contribute to increased housing demand. This demographic trend often correlates with an active real estate market as new residents seek housing options. The influx of people could be due to various factors including employment opportunities, lifestyle preferences, and the area’s overall desirability.
Investment Opportunities and Potential
The robust population growth coupled with positive trends in property prices suggests significant investment opportunities within Kenilworth’s real estate market. Investors may find particular potential in single-family homes given their higher rate of capital appreciation. As the median house price is currently $525,000 and following a stable upward trajectory, these properties could provide both rental income and long-term value increase.
Apartments also present an appealing investment choice with a relatively lower entry point at a median price of $315,000. Their 2.5% annual price increase indicates steady demand for more affordable and smaller-scale living spaces, possibly driven by young professionals or smaller households moving into the area.
Investors should consider both current rental yields and the potential for future resale when evaluating properties in Kenilworth. Given the ongoing population growth, there may also be opportunities to invest in new development projects to meet the rising housing demand.
Future Market Outlook
Looking ahead, Kenilworth’s real estate market appears poised for continued growth. The consistent rise in property values alongside strong population increases suggests an enduring attractiveness of the area that is likely to persist. Assuming similar economic conditions remain intact, such as employment rates and interest rates, one can reasonably expect further appreciation in property values over the coming years.
Investors and homebuyers should monitor key factors that could impact this outlook such as any changes in local industry employment levels, infrastructure developments, or shifts in mortgage interest rates which influence buyer affordability. However, given current trends and demographic data, Kenilworth’s housing market demonstrates solid fundamentals for sustainable growth.
