Kingston, Newfoundland and Labrador 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 Kingston, Newfoundland and Labrador is currently experiencing a period of growth. With a median house price of $500,000 and an annual price increase of 3.5%, the market is showing signs of steady appreciation. The median apartment price stands at $300,000, with a slightly lower year-over-year increase of 2.1%. This suggests that while both segments of the housing market are growing, single-family homes are in higher demand and possibly experiencing greater valuation increases.
The population of Kingston has grown to 15,000 residents, reflecting a substantial growth rate of 7.1%. This demographic expansion is likely contributing to increased housing demand, which in turn may be driving up property values. It’s important for investors and potential homebuyers to consider these trends when making real estate decisions in this region.
Investment Opportunities and Potential
Considering the current market trends and demographic data, Kingston offers promising investment opportunities, particularly in residential real estate. The consistent growth in property values indicates a robust market where investments are likely to appreciate over time. The 3.5% annual increase in house prices suggests that single-family homes might be a particularly sound investment.
Furthermore, the significant population growth implies a rising demand for housing which could result in lower vacancy rates and potentially higher rental income for investors focusing on rental properties. Given the current price trends for apartments, investors looking for entry-level investment opportunities might consider this segment as it provides an affordable avenue with steady capital appreciation potential.
Future Market Outlook
The future outlook for Kingston’s real estate market appears positive. The sustained population growth, combined with increasing property values, points towards continued demand for housing. If these trends persist, the market may see ongoing appreciation rates which would bode well for long-term investments.
However, prospective investors and stakeholders should remain cognizant of broader economic factors that could impact the market such as interest rates, employment levels in the region, and government housing policies. While the current indicators are favorable, maintaining vigilance on these external factors will be crucial to understanding future shifts or corrections in the market.
