Jasper, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
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 | $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 | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The Jasper real estate market currently exhibits a steady increase in property values with the median house price sitting at $525,000, which denotes a 4% year-over-year growth. This trend suggests a healthy demand for housing in the area. Similarly, the apartment sector has experienced growth with a 2.5% year-over-year increase, bringing the median apartment price to $320,000. This ongoing appreciation in property values is underpinned by Jasper’s growing population, which has recently seen a 3.3% increase, bringing the total number of residents to approximately 15,500. The combination of population growth and rising property prices points towards a robust demand for housing.
Investment Opportunities and Potential
Jasper’s steady market growth provides an optimistic environment for potential investors. The consistent rise in house and apartment prices indicates that investments in residential properties are likely to benefit from continued capital appreciation. Moreover, with Jasper’s appeal as a picturesque mountain town and its proximity to national parks, there is potential for developing vacation rental properties or investing in the hospitality sector to cater to tourists. Investors should consider both long-term residential rentals and short-term vacation rentals to diversify income streams, especially given the town’s tourist draw.
Future Market Outlook
The future outlook for Jasper’s real estate market appears promising. With an increasing population and sustained interest from both residents and visitors, demand for housing is expected to remain strong. If current trends persist, there should be continued gradual appreciation in property prices. However, prospective investors and homeowners should also monitor economic factors that can influence the market such as employment rates, tourism trends, and interest rates. Given Jasper’s unique positioning as a tourist destination with limited space for expansion due to surrounding national parks, the market dynamics are uniquely influenced by supply constraints which may further exacerbate price increases over time.
