Kenmore, 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 | $425,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $625,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| 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 Kenmore, Ontario, the real estate market is currently experiencing steady growth. The median house price stands at $525,000, reflecting a year-over-year increase of 4%. This suggests a stable and upward trend in the housing market. Similarly, the median apartment price is $315,000 with a slower yet positive growth rate of 2.5% compared to the previous year.
The population of Kenmore has reached approximately 15,200 residents, demonstrating a healthy growth rate of 2.7%. This indicates an increasing demand for housing as more people are drawn to the area, which may be attributable to various factors such as employment opportunities, lifestyle preferences, or other local amenities.
Investment Opportunities and Potential
In light of the current market conditions, Kenmore presents several investment opportunities. The consistent rise in property values suggests that purchasing residential real estate could yield favorable returns over time. Investors should consider both houses and apartments since both segments show positive price trends.
Houses in Kenmore offer a median price point that is accessible for many investors and may attract families looking for residential stability. Apartments might appeal to those seeking rental income, especially given the population’s growth trajectory which could increase rental demand.
Furthermore, Kenmore’s growing population and subsequent housing demand might also present opportunities for new development projects or renovations of existing properties to cater to the evolving needs of the community.
Future Market Outlook
The future real estate market outlook for Kenmore appears promising. Assuming that current economic conditions persist and the population continues its upward trend, we can expect continued demand for housing in both the private sale and rental markets.
The steady appreciation in property values at a moderate pace suggests a market that is growing healthily without overheating—this bodes well for sustainable long-term investment. However, potential investors should remain vigilant of external economic factors that could affect interest rates and affordability.
Overall, with careful consideration and due diligence, Kenmore’s real estate market presents an attractive option for those looking to invest in residential property with expectations of stable growth.
