Kingston, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.3% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Kingston, Newfoundland and Labrador is currently experiencing a phase of moderate growth. With the median house price standing at $495,000, the market has seen a year-over-year increase of 3.3%. This suggests a healthy demand for housing in the area, likely driven by the positive population growth rate of 4.8%, which indicates an influx of residents seeking homes.
Apartments are also following a similar upward trend, though at a slightly slower pace. The median apartment price is $295,000, with an annual growth rate of 2.5%. This could be indicative of a strong rental market or first-time homebuyers looking for more affordable entry points into the housing market.
2. Investment Opportunities and Potential
The current trends in Kingston’s real estate market suggest that there are promising investment opportunities, particularly in residential properties. The steady increase in property values is a good sign for investors looking for capital gains in the medium to long term. Additionally, the population growth can contribute to sustained demand for rental properties, potentially offering stable rental income streams.
Given the higher growth rate in house prices compared to apartments, investing in single-family homes could provide greater appreciation potential. However, apartments might offer more accessible investment opportunities with lower initial costs and could cater to different segments of the growing population such as young professionals or smaller families.
3. Future Market Outlook
The future outlook for Kingston’s real estate market appears optimistic. With continuous population growth and a consistent rise in property values, the region shows potential for ongoing demand and investment returns. As the local economy adapts to accommodate new residents, infrastructure development and job creation could further bolster the market strength.
Investors should monitor factors such as interest rates, employment rates, and any government housing policies that might impact buyer affordability and influence market dynamics. Caution is always advisable due to potential external economic shocks that can affect local markets unpredictably.
In conclusion, Kingston offers a dynamic real estate market with potential for both homeownership and investment purposes. Careful analysis of specific areas within Kingston will be crucial to identifying the most lucrative investments as regional variations in growth could exist.
