Jaffray, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
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 | $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 (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,300 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Jaffray, British Columbia is currently experiencing a moderate growth in property values. The median house price sits at $525,000, which reflects a year-over-year increase of approximately 4%. This is indicative of a healthy demand for housing in the area. The apartment sector shows a slightly lower growth rate with the median apartment price at $320,000, having risen by 2.5% over the past year.
The population of Jaffray has grown to 15,500, with a robust growth rate of 3.3%. This demographic trend suggests an expanding local economy and could lead to increased demand for both rental and owner-occupied housing. The current market conditions are balanced but show signs of moving towards a seller’s market due to steady demand and limited supply.
Investment Opportunities and Potential
The consistent growth in property values alongside the rising population presents lucrative investment opportunities in Jaffray. Investors considering entry into the Jaffray real estate market would find potential in both the residential housing and apartment sectors.
With houses appreciating at a higher rate than apartments, investors might lean towards purchasing single-family homes for either resale or rental purposes. The ongoing population growth implies that rental properties will remain in demand, potentially offering stable income streams and long-term capital appreciation for landlords.
Apartments, while showing slower appreciation, should not be overlooked as they offer more accessible price points for both investors and buyers. They may appeal particularly to first-time homebuyers or those looking for lower-maintenance living arrangements.
Future Market Outlook
The future real estate market outlook for Jaffray is cautiously optimistic. Given the solid population growth rate and its impact on housing demand, it is reasonable to expect that property values will continue to rise, although potentially at a more measured pace than seen in recent years.
As with any market forecast, external economic factors such as interest rates, employment levels, and regional economic developments will play crucial roles in shaping the trajectory of the real estate market. However, assuming stability in these areas, Jaffray’s real estate market should maintain its upwards trend, providing favorable conditions for both homebuyers and investors alike.
Potential investors should keep an eye on infrastructure developments and any policy changes that could impact the local real estate landscape. Careful monitoring and timely action will be key to capitalizing on Jaffray’s future property market movements.
