Jasper, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.6% |
Apartment
| Median price | $310,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
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 | 6,100 |
| 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 Jasper, Ontario, is currently exhibiting steady growth. The median house price stands at $520,000, which marks a 2.8% year-over-year increase. This increment indicates a healthy demand for housing in the area, which aligns with the overall economic growth and the rising population.
The median apartment price is slightly lower at $310,000, with a smaller year-over-year increase of 1.5%. This suggests that apartments are a more affordable entry point into the real estate market for new homebuyers or investors looking for rental properties. Apartments are also likely catering to smaller households or individuals contributing to diverse housing needs in Jasper.
The population of Jasper has reached approximately 15,500 residents, with a robust growth rate of 3.3%. This population growth is an indicator of the town’s increasing attractiveness and potentially signals a continued demand for housing in the near future.
Investment Opportunities and Potential
Given the positive trends in both population growth and property values, Jasper presents a range of investment opportunities. The steady increase in house prices suggests that purchasing residential properties could yield capital gains over time. Additionally, the growing population may lead to higher demand for rental properties, making it worthwhile for investors to consider buying apartments or houses to rent out.
The more modest increase in apartment prices compared to houses indicates that there could be an untapped market potential in multi-family dwellings. Investors might find significant opportunities by developing or investing in apartment complexes aimed at singles, young professionals, and small families who are looking for affordable living options within Jasper.
Future Market Outlook
The future market outlook for Jasper’s real estate market appears promising. Population growth tends to be a key driver of real estate demand, and with Jasper’s population increasing steadily at 3.3%, it is reasonable to expect that this will continue to support house and apartment prices over time.
The ongoing increases in property values suggest a market that is likely to remain stable or even grow further. However, investors should also remain aware of broader economic factors such as interest rates, employment rates, and regional economic development initiatives that could affect future market conditions.
In conclusion, while current trends point towards a healthy real estate market with potential for investment returns, it is essential for investors to monitor local and national economic indicators closely when making long-term investment decisions in Jasper’s property market.
