Jarvie, Alberta 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
1. Current Market Conditions and Trends
In Jarvie, Alberta, the real estate market is currently experiencing steady growth. The median house price stands at $500,000, which reflects a year-over-year increase of 3.5%. This incremental growth indicates a stable market that is consistently appreciating in value. Similarly, the median apartment price is $300,000, marking a year-over-year rise of 2.1%. This suggests that while apartments are also gaining value, the appreciation rate is slightly more subdued compared to houses.
The population of Jarvie has recently reached 15,000 residents, with a significant growth rate of 7.1%. This demographic expansion can be attributed to factors such as local economic development, job opportunities, and lifestyle amenities that appeal to new residents. The substantial population increase is likely to continue fueling demand for housing in both the private sale and rental markets.
2. Investment Opportunities and Potential
The consistent appreciation in property values presents numerous investment opportunities within Jarvie’s real estate market. For investors looking at long-term capital gains, purchasing residential properties could be advantageous given the current upward trend in house prices.
Apartments offer an alternative investment route with a lower entry point at $300,000. While their appreciation rate is slower at 2.1% year-over-year compared to houses, they may provide attractive rental income prospects due to the increasing population requiring housing solutions. Investors should consider both the potential for rental yield and capital appreciation when evaluating apartments as an investment.
New developments and infrastructure projects could further enhance property values and attract additional investment into Jarvie’s real estate market. Investors should stay informed about ongoing and upcoming projects that might impact property demand and prices.
3. Future Market Outlook
The future outlook of the Jarvie real estate market appears optimistic based on current trends and data. Given the robust population growth and sustainable property value increases, it is expected that the demand for housing will continue to rise, potentially leading to a more competitive market with higher prices.
In light of these factors, prospective buyers may find it beneficial to enter the market sooner rather than later to capitalize on current conditions before further price increments materialize. Sellers can also expect favorable conditions as competition among buyers may lead to better offers for their properties.
However, investors and stakeholders should monitor economic indicators and local developments closely as changes in interest rates, employment rates, or government policies can influence market dynamics significantly.
