Kingston, Ontario Real Estate Market Data
Updated: Nov 2024
House
Median price | $540,000 |
Monthly growth | 1.1% |
Quarterly trend | 4.0% |
Stock on market | 0.7% |
Apartment
Median price | $320,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.5% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $480,000 |
3 bedrooms | $540,000 |
4 bedrooms | $650,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $280,000 |
2 bedrooms | $360,000 |
3 bedrooms | $460,000 |
Demographics
Current Population (2025) | 16,600 |
Previous Population (2020) | 16,000 |
Population Change | 3.8% |
Total Private Dwellings | 6,700 |
Occupied Private Dwellings | 6,200 |
Population Density (per km²) | 1.7 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Kingston, Ontario, currently presents a stable environment with a median house price of $540,000, which reflects a modest year-over-year increase of 4%. This growth rate suggests a healthy demand for housing, supported by the city’s robustness and appeal. The median apartment price stands at $320,000, with a slower growth rate of 2.5% year-over-year. This indicates a more conservative appreciation in the apartment sector but still points to a positive trajectory.
Kingston’s population of 16,600 is on an upward trend with a significant growth rate of 3.75%. This population increase is likely contributing to the sustained demand for housing and can be seen as a driving force behind the consistent property value appreciation. The desirability of Kingston as a place to live and work helps maintain the momentum in its real estate market.
Investment Opportunities and Potential
The current trends indicate that Kingston’s real estate market holds promising investment opportunities particularly in residential properties. With houses appreciating at a steady pace, investors can expect capital gains over time. Additionally, Kingston’s growing population suggests that rental properties could also offer stable yields as demand for housing may increase with the influx of new residents.
The more tempered growth in apartment values compared to houses suggests there might be potential for investors to enter the market at a lower price point while still participating in the overall appreciation trend. Given that both sectors are showing an upward trend albeit at different rates, diversification across property types could mitigate risks and maximize returns for real estate investors in Kingston.
Future Market Outlook
The future outlook for Kingston’s real estate market remains optimistic. The continuous population growth is expected to keep demand high for both purchasing and renting properties. Assuming no major economic disruptions occur, the market should maintain its current trajectory of gradual appreciation.
As long as interest rates remain favorable and employment rates stay strong within the region, buyers’ purchasing power will support ongoing investments in the market. Long-term investors may find particular value in looking at properties that cater to growing demographics within Kingston such as young professionals and small families.
In conclusion, while no market is without risk, Kingston’s real estate presents various opportunities underpinned by solid market fundamentals. Investors should continue monitoring economic indicators closely while considering both short-term gains through flipping or Airbnb-type rentals, and long-term gains through traditional renting or holding strategies.