Kensington, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| 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 Kensington, Alberta, the real estate market is currently experiencing steady growth. The median house price stands at $520,000, with a year-over-year increase of 4%. This indicates a healthy demand for single-family homes in the area. Similarly, the apartment sector remains robust, with a median price of $310,000 and an appreciation trend of 2.5% over the past year.
The population of Kensington has grown to 15,500 residents, marking a growth rate of 3.3%. This demographic expansion contributes to the increased demand for housing in the area. Furthermore, the positive price trends in both housing and apartment markets suggest that Kensington’s real estate is a stable investment for homebuyers and investors alike.
Investment Opportunities and Potential
Investors looking towards Kensington can find opportunities in various segments of the market. The consistent rise in median house prices demonstrates room for capital gains in the residential sector. Single-family homes, given their higher appreciation rate compared to apartments at 4%, present a strong potential for higher returns on investment.
Apartments also offer a valuable entry point for investors seeking more affordable options or aiming to cater to individuals and small families who prefer multi-unit dwellings. With a moderate appreciation rate of 2.5%, apartments provide a stable investment with potential for both rental income and long-term value increase.
The ongoing population growth ensures that demand for housing will continue, potentially pushing property values further up, making it an opportune time to invest in Kensington’s real estate market.
Future Market Outlook
Looking ahead, Kensington’s real estate market appears poised for continued growth. The steady population increase suggests sustained demand for housing will persist. If current trends hold, prospective homebuyers and investors can expect further appreciation in property values.
The local economy’s health and demographic trends will be critical factors in maintaining momentum within the market. Assuming no major economic disruptions occur, the outlook remains positive with both house and apartment prices likely to see incremental growth.
In conclusion, Kensington presents itself as an attractive locale for both homebuyers seeking long-term residences and investors pursuing growth opportunities in Alberta’s dynamic real estate landscape.
