Jasper, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $315,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
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 Jasper, Alberta, is experiencing a steady rise in property values. The median house price currently stands at $520,000, which represents a 4.2% increase year-over-year. This indicates a healthy growth trend that is slightly above the national average. Similarly, the median apartment price has reached $315,000, with a more modest year-over-year increase of 2.5%. These trends suggest a balanced market that is growing steadily in terms of property values.
Jasper’s population has also seen a notable increase, with a growth rate of 3.3%. This demographic shift is likely contributing to the increased demand for housing and, consequently, the rise in property prices. The town’s appeal as a tourist destination and its picturesque location within Jasper National Park contribute to its desirability for both residents and investors.
Investment Opportunities and Potential
For investors considering Jasper’s real estate market, the current conditions present several opportunities. The consistent rise in property values suggests that investing in residential properties could yield positive returns over time. The town’s robust tourism industry also opens up potential for vacation rental investments and developments catered to short-term stays.
The market shows promise for both long-term capital appreciation and income-generating properties such as multi-unit residential buildings or mixed-use developments. With the population growth outpacing national averages, demand for both rental and owned properties is expected to remain strong.
Future Market Outlook
Looking forward, the Jasper real estate market appears poised for continued growth. Population trends indicate ongoing demand for housing, which will likely keep pushing property values upward. As long as the region maintains its appeal through investment in infrastructure and amenities that support both tourism and local living standards, the market should remain robust.
However, investors should be mindful of external economic factors that can affect the market, such as interest rates, employment rates within Alberta, and any changes in national housing policies. Monitoring these elements alongside local market data will be crucial for making informed investment decisions.
In summary, Jasper presents an attractive option for real estate investment with its steady price growth, increasing population, and strong tourism sector. Prudent investors who enter this market with a long-term strategy and an eye on broader economic indicators may find rewarding opportunities.
