Kingswood, Manitoba Real Estate Market Data
Updated: Nov 2024
House
| Median price | $505,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.3% |
| Stock on market | 0.8% |
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 | $425,000 |
| 3 bedrooms | $505,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $335,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| 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 Kingswood, Manitoba is currently experiencing a period of steady growth. With a median house price of $505,000 and an annual appreciation rate of 3.3%, the market is indicating healthy demand. The median apartment price stands at $295,000, with a slightly lower growth rate of 2.5% year-over-year. This suggests that while both sectors are expanding, houses are currently in higher demand.
The population of Kingswood has seen a significant increase of 3.3%, which likely contributes to the ongoing demand for housing in the area. This demographic growth could be due to various factors such as employment opportunities, attractive amenities, or a general trend of migration towards suburban areas like Kingswood.
Investment Opportunities and Potential
Given the current market trends and demographic expansion, investment opportunities in Kingswood appear promising. The continuous population growth coupled with the steady appreciation in property values suggests that there is ongoing and potentially increasing demand for housing.
Investors might consider capitalizing on the higher growth rate seen in houses; however, apartments offer a more accessible entry point into the market due to their lower median price. As rental demand may rise parallel to population growth, purchasing apartments for rental purposes could present a viable investment strategy with potential for stable long-term returns.
Future Market Outlook
The future market outlook for Kingswood remains optimistic. If current trends persist, such as the consistent population growth and rising housing demands, it can be reasonably expected that property prices will continue their upward trajectory. The combination of an appreciating market and an expanding population base should continue to support both resale value appreciation and rental market strength.
In conclusion, investors who enter the market judiciously—taking into account factors such as location within Kingswood, property type selection, and potential shifts in population dynamics—may be well-positioned to benefit from sustainable growth in their real estate investments over the coming years.
