Joffre, 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 (2025) | 15,000 |
| Previous Population (2020) | 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
Current Market Conditions and Trends
The real estate market in Joffre, Alberta has been showing a steady growth trend, with the median house price currently standing at $500,000, marking a 3.5% increase year-over-year. This indicates a healthy demand for residential properties and a robust housing market. Similarly, the median apartment price is $300,000, experiencing a 2.1% rise year-over-year. These trends reflect a stable appreciation in property values within the region.
The population of Joffre has grown to 15,000 residents, with an impressive growth rate of 7.1%. This significant increase in population suggests that Joffre is attracting new residents at a high rate, which may be due to economic opportunities, quality of life improvements or other factors that make the area appealing for relocation.
Investment Opportunities and Potential
Given the steady increase in property values and significant population growth, Joffre presents attractive investment opportunities. Investors can expect continued appreciation of property values in line with the current trends. The consistent rise in median house and apartment prices indicates a sustainable growth pattern that can benefit long-term investment strategies such as buy-and-hold real estate investments.
The influx of new residents to Joffre also suggests potential for rental market expansion. With more individuals and families moving into the area, there is likely an increasing demand for rental properties which offers investors the chance to capitalize on rental income alongside property value appreciations.
Future Market Outlook
The future outlook for Joffre’s real estate market appears promising based on existing trends and data. The continuous population growth signals ongoing demand for housing which is expected to prop up property prices further. Should these trends persist, investors can remain optimistic about both short-term gains through flips and renovations as well as long-term returns from rental or lease income.
However, it is essential for investors to monitor economic indicators such as employment rates, infrastructure developments and local government policies as these factors can have substantial impacts on the real estate market’s trajectory. Considering that market dynamics can shift due to various external influences, keeping abreast of regional developments will be crucial for making informed investment decisions in Joffre’s real estate landscape.
