Kingston, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 16,100 |
| Previous Population (2019) | 15,000 |
| Population Change | 7.3% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Kingston, Ontario is currently experiencing stable growth, as evidenced by the year-over-year increase in property values. The median house price stands at $525,000, reflecting a growth of 4.2% from the previous year. This suggests a healthy demand for single-family homes in the region. Similarly, the market for apartments is also on the rise with the median price at $315,000 and a slightly lower yet positive growth trend of 2.5% year-over-year.
The population of Kingston has grown significantly, with an increase of 7.3%, indicating a burgeoning local economy and an inflow of residents seeking housing. This demographic change could be contributing to the steady uptick in property values as demand continues to outpace supply.
Investment Opportunities and Potential
The continuous population growth paired with the consistent appreciation in property values presents clear investment opportunities within Kingston’s real estate market. Investors should note that the single-family home segment shows stronger growth compared to apartments, which may indicate a higher demand for such properties.
Furthermore, as Kingston’s economy diversifies and its population increases, rental properties are likely to see a surge in demand, making them potentially lucrative investments for those interested in becoming landlords or investing in residential income properties. The current trends suggest that early investments might yield considerable returns as market conditions continue to improve.
Future Market Outlook
The outlook for Kingston’s real estate market appears promising. Considering the robust population growth and sustained property value appreciation rates, it is reasonable to anticipate continued strength in this market. The ongoing economic development within Kingston should further stimulate housing demand, thereby supporting both short-term gains and long-term capital appreciation.
In light of these factors, it would be prudent for investors to consider Kingston as a viable location for real estate investments. However, potential investors should conduct comprehensive due diligence and monitor local economic indicators closely to time their investments optimally within the context of broader market cycles.
