Kensington, Alberta 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 Kensington, Alberta is currently experiencing steady growth. The median house price stands at $500,000, with a positive year-over-year price trend of 3.5%. This suggests a healthy demand in the housing sector and a competitive market for potential buyers. In contrast, the median apartment price is $300,000, with a more modest year-over-year increase of 2.1%. This indicates that while there’s an appreciation in value, the apartment market is slightly less dynamic compared to houses.
The population of Kensington is 15,000 and has seen a significant growth rate of 7.1%. This demographic expansion contributes to the increased demand for housing and underpins the current upward pricing trends.
Investment Opportunities and Potential
Kensington offers promising investment opportunities given its robust population growth and consistent appreciation of property values. The steady increase in median house prices implies that investing in residential properties could yield substantial returns over time. Moreover, the notable population growth rate provides a large pool of potential tenants or buyers, enhancing the investment’s appeal.
Apartments present an attractive entry point for investors due to their lower median price point. With a year-over-year trend of 2.1%, apartments can be a smart choice for those looking to invest in rental properties or seeking more affordable options with potential for long-term capital gains.
Future Market Outlook
The future real estate market outlook for Kensington appears positive. Given the strong population growth rate and sustained property value appreciation, we can anticipate a continued demand for housing in this region. If these trends persist, both the house and apartment markets are likely to maintain their growth trajectories.
Investors should monitor infrastructure developments and employment opportunities within Kensington as these factors will further influence property valuation and market dynamics. A proactive approach towards understanding emerging neighborhoods and upcoming projects could provide strategic advantages for early investments.
