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
Current Market Conditions and Trends
The real estate market in Kimbo, Ontario is experiencing steady growth, as indicated by the year-over-year increases in property values. The median house price in the area now stands at $500,000, with a growth trend of 3.5%. This suggests a healthy demand for housing which could be driven by various factors such as the local economy, interest rates, and demographic shifts.
Apartments in Kimbo are also seeing appreciation but at a slightly slower pace than houses. The median apartment price is $300,000, with an annual growth rate of 2.1%. This indicates a robust but more moderate investment return for apartments compared to houses.
The population of Kimbo has reached 15,000 residents and is growing at a rapid rate of 7.1%. This significant population growth is likely contributing to the increase in demand for housing and can be expected to continue fueling the real estate market.
Investment Opportunities and Potential
Given the current trends, Kimbo presents several attractive opportunities for real estate investment. The steady increase in house prices points to potential long-term capital gains for investors focusing on residential properties. As population growth continues to outpace new housing developments, this could lead to a tighter market with greater potential for rental income and property value appreciation.
Investors should also consider the apartment market in Kimbo. While the growth rate is lower than that of houses, apartments can provide a more accessible entry point into real estate investment and may offer higher yield prospects due to their affordability and appeal to smaller households or individuals.
The strong population growth also presents an opportunity for development projects aimed at meeting the increased demand for housing. Investors and developers who act swiftly to capitalize on this demand may benefit from first-mover advantages.
Future Market Outlook
The future outlook for Kimbo’s real estate market remains positive. Assuming current economic conditions persist or improve, the demand for housing is likely to remain high due to ongoing population growth. If supply doesn’t keep pace with this demand, both homebuyers and renters may face increased competition for available properties, thereby pushing prices upward.
Investment strategies that focus on long-term property holding are poised to benefit from these trends. However, investors should also keep an eye on economic indicators and policy changes that might affect interest rates or housing affordability, as these factors will play a crucial role in shaping future market dynamics.
To sum up, while no market is without risk, Kimbo’s real estate market currently shows strong fundamentals with promising signs for sustained growth and investment viability over the coming years.
