Joussard, 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 (2024) | 15,000 |
| Previous Population (2019) | 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
In Joussard, Alberta, the real estate market is exhibiting a steady growth pattern. With the median house price currently sitting at $500,000, there has been a year-over-year increase of 3.5%. This indicates a healthy, appreciating market that remains attractive to both homeowners and investors. The median apartment price is also on an upward trajectory, currently at $300,000 with a slower yet positive growth rate of 2.1% year-over-year.
The population of Joussard has reached 15,000 residents and is growing at a significant rate of 7.1%. This growth is likely contributing to increased housing demand, which in turn drives property value appreciation. The influx of new residents suggests that the local economy is robust and that there may be opportunities for further development and expansion within the housing market.
Investment Opportunities and Potential
The present conditions in Joussard’s housing market signal strong investment opportunities. Given the consistent increase in property values and the substantial population growth, investors could expect continued demand for residential properties. Single-family homes are particularly appealing due to their higher appreciation rate compared to apartments.
The slower growth rate in apartment prices does provide an opportunity for investors looking for more affordable entry points into the real estate market or those interested in long-term rental income streams. As the population continues to grow, demand for diverse housing options—including apartments—is expected to rise, potentially increasing rental yields over time.
Future Market Outlook
The future outlook for Joussard’s real estate market appears optimistic. Continuous population growth serves as a key indicator of potential economic prosperity and sustained demand for housing. Assuming current trends persist, property values are likely to maintain their upward trajectory.
However, prospective investors should be mindful of external economic factors that may affect regional markets such as interest rate changes, employment rates in key industries within Alberta, and government housing policies that could impact buyer sentiment and affordability.
In conclusion, Joussard presents an appealing profile for both residential property buyers and real estate investors. With careful analysis and strategic planning, stakeholders can leverage the current trends for potential long-term gains.
