Kimbo, 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 (2024) | 15,000 |
| Previous Population (2019) | 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
1. Current Market Conditions and Trends
The real estate market in Kimbo, Ontario is currently exhibiting steady growth, with median housing prices standing at $500,000, reflecting a 3.5% year-over-year increase. This indicates a healthy demand for housing in the area, consistent with broader national trends of stable growth in real estate values. Apartments are also showing a positive trajectory with a median price point of $300,000 and a growth trend of 2.1% over the same period.
The population of Kimbo has experienced significant growth, reporting a 7.1% increase which outpaces many other regions in the province. This demographic expansion is a key driver for the sustained demand in housing, both for ownership and rental purposes, thus exerting upward pressure on property values and rental rates.
2. Investment Opportunities and Potential
Given the robust population growth and consistent appreciation in property values, Kimbo presents attractive opportunities for real estate investors. The growing populace suggests a need for diversified housing options including single-family homes, townhouses, and apartment complexes to cater to different segments of the market.
Investment in residential properties could yield considerable returns due to the rising house and apartment values—3.5% and 2.1% year-over-year respectively. These trends also suggest potential for long-term capital gains for investors who enter the market now while the momentum is sustained.
Rental properties also offer promising prospects given the influx of residents requiring accommodation. Investors could capitalize on this by acquiring properties to serve as rentals thereby benefiting from both rental income and property value appreciation.
3. Future Market Outlook
The future real estate market outlook for Kimbo remains optimistic based on current trends and projections. With an impressive population growth rate of 7.1%, demand for housing is expected to continue to rise which should maintain upward pressure on both house prices and rental rates.
The stable year-over-year price increases of houses and apartments suggest that the market is less volatile compared to other markets with more rapid swings in valuation. Predictability affords investors a level of security when projecting future cash flows and gauging investment risk.
However, it’s worth noting that external economic factors such as interest rate changes, employment rates, and broader economic health can impact these projections. As such, continuous monitoring of both local and national economic indicators is recommended for those looking to invest or operate within the Kimbo real estate market.
