Kingston, Nova Scotia 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 Kingston, Nova Scotia, is experiencing steady growth as indicated by the year-over-year increase in property values. The median house price stands at CAD $500,000, reflecting a growth rate of 3.5%. This suggests a stable market with moderate appreciation in housing prices. Similarly, apartments are following an upward trend with the median price set at CAD $300,000 and a somewhat slower appreciation rate of 2.1% year-over-year.
Kingston’s population has seen a significant increase of 7.1%, which is indicative of the town’s growing appeal and could be contributing to the demand for housing. This population growth is likely to continue driving the demand for both houses and apartments in the region.
Investment Opportunities and Potential
The consistent rise in property values presents an opportune moment for real estate investors to consider Kingston for both long-term capital gains and rental income potential. The town’s increasing population is promising for landlords, as there is likely to be a sustained demand for rental accommodations.
Houses being more expensive than apartments by a significant margin could push more residents towards renting or purchasing apartments, thus making apartment investments particularly appealing. The lower appreciation rate for apartments compared to houses might also indicate a market that has not yet reached its peak, suggesting room for growth and providing an attractive entry point for investors.
Future Market Outlook
Given the current trends and statistics, Kingston’s real estate market outlook appears positive. With a robust population growth rate of 7.1%, it can be expected that there will be continued demand for housing which should support property value appreciation over time. While no market is without risk, the steady growth pattern observed provides some confidence for stability in the future.
Investors and homebuyers considering Kingston should monitor local economic developments and infrastructure investments as these factors could further influence the market dynamics. As long as the town maintains its appeal through job opportunities, amenities, and quality of life, Kingston’s real estate market is poised to remain an attractive area for investment and residency alike.
