Jarvie, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $385,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $605,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| 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 Jarvie, Alberta has shown a consistent growth pattern as indicated by the median house price of $495,000, experiencing a year-over-year increase of 3.2%. This indicates a healthy demand for detached homes in the region. Concurrently, the median price for apartments stands at $295,000, with a year-over-year growth of 2%. This slower rate of increase suggests that while there is interest in more affordable housing options, it is not as strong as the single-family home market.
With a population of 15,200 and a growth rate of 2.7%, Jarvie is on an upward trajectory in terms of expansion. The increasing population is likely to contribute to sustained demand for housing in both the private home and apartment sectors.
Investment Opportunities and Potential
The steady increase in property values across both houses and apartments demonstrates investment potential within Jarvie’s real estate market. The stronger growth in house prices suggests that single-family homes may offer better capital appreciation in the short to medium term. However, apartments could be an attractive entry point for investors seeking lower initial investments or looking to cater to individuals who prefer denser living spaces or cannot afford higher-priced homes.
The continuous population growth further bolsters the investment case for real estate in Jarvie due to the expected rise in housing demand. Investors should also consider local economic factors, infrastructure development plans, and employment rates as these will influence long-term property values and rental market dynamics.
Future Market Outlook
The future outlook for Jarvie’s real estate market appears optimistic given current trends and demographic indicators. Assuming that economic conditions remain favorable and the local job market continues to grow alongside the population, housing demand should stay strong.
The year-over-year growth rates for both houses and apartments suggest a stable market with room for sustainable growth rather than one that is prone to overheating or speculation. As such, investors looking at long-term horizons could find value in the Jarvie real estate market, keeping an eye out for policy changes or external economic factors that could affect future trends.
In conclusion, Jarvie’s real estate market presents a promising landscape for buyers and investors alike. The key will be to monitor ongoing developments closely to make informed decisions aligned with personal investment strategies and risk profiles.
