Kimberley, Ontario 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 Kimberley, Ontario is currently experiencing a steady growth with the median house price sitting at $500,000, marking a 3.5% increase year-over-year. This indicates a healthy demand for housing in the area, which is supported by the overall trend of population growth. The median price for apartments has also seen an uptick, reaching $300,000 with a slower growth rate of 2.1% year-over-year. Such trends suggest that while houses are in higher demand, apartments remain an attractive option for smaller households or investors looking for lower entry points into the market.
Investment Opportunities and Potential
With Kimberley’s population increasing at a significant rate of 7.1%, there is evident potential for real estate investments to pay off. The consistent rise in property values suggests that both residential homes and apartments present solid opportunities for capital appreciation over time. Furthermore, the varied growth rates between houses and apartments could allow investors to diversify their portfolios to balance risk and return effectively. The town’s growing populace also hints at potential rental market expansion, which could be lucrative for those looking to invest in rental properties.
Future Market Outlook
The future of Kimberley’s real estate market looks promising. The sustained population boom implies a continued demand for housing, which may keep driving property prices upward. If this demographic trend persists, it is likely that the market will maintain its growth trajectory, making it an attractive destination for both homebuyers and investors alike. However, potential investors should monitor economic factors such as employment rates, interest rate changes, and regional developments that could influence the market’s performance. In summary, Kimberley presents itself as an emerging market with strong fundamentals supporting its growth prospects.