Killarney, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
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 | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $480,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 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
The real estate market in Killarney, Ontario is currently experiencing a steady increase in property values, reflecting a healthy demand for housing in the area. With a median house price of $525,000, which has seen a 4.2% year-over-year growth, the market is favoring sellers, indicating that homeowners are seeing their investments appreciate over time. Similarly, the median apartment price stands at $320,000, with a more moderate appreciation of 2.5% year-over-year. These trends suggest a balanced growth across different housing types.
The town’s population has reached 15,200 residents and is growing at a rate of 2.7%, which may be contributing to the sustained demand for housing. This demographic expansion can be attributed to Killarney’s appeal to both families and professionals seeking community-oriented living within commuting distance of larger urban centers.
Investment Opportunities and Potential
Given the positive trajectory in property values and population growth, Killarney presents various investment opportunities. The steady rise in house prices signifies potential for long-term capital gains for investors purchasing residential properties. Rental properties also offer an attractive option as population growth drives rental demand, potentially leading to high occupancy rates and rental yield stability.
New developments and infrastructure projects may also present opportunities for investment as these can often lead to an increase in local property values. Investors should keep an eye on municipal planning and development initiatives to capitalize on early investment prospects.
Future Market Outlook
The outlook for the Killarney real estate market remains optimistic given the consistent growth patterns observed. Barring any unforeseen economic changes or shifts in housing policies, the market is expected to maintain its upward trajectory. The increasing population is likely to continue fueling demand for housing, supporting both house and apartment prices.
However, investors should also monitor interest rate trends and economic conditions that could impact borrowing costs and consumer confidence. Staying informed on local economic development plans will provide further insight into long-term market direction and potential areas of expansion within Killarney.
In summary, Killarney offers a stable environment for residential real estate investment with promising growth prospects backed by strong market fundamentals.
