Fernie Real Estate Kickoff 2025: Navigating the New Market Dynamics

Dive into the new year with a comprehensive analysis of the Fernie real estate market in January 2025 on The Property Mindset Podcast. This episode provides an in-depth look at the major shifts and trends affecting the market, from a surprising increase in new listings to significant changes in property prices. Whether you're a potential buyer, seller, or investor, understanding these dynamics is crucial for making informed decisions.

We'll explore:

• The significant rise in new listings and what it signals for the market.
• How the median and average prices have adjusted in the early days of 2025.
• The implications of these changes for buying and selling in Fernie.

Stay tuned as we offer expert insights and predictions to help you navigate Fernie's evolving real estate landscape. Whether you're planning to buy your dream home or considering selling your property, this episode is packed with essential information to guide your real estate decisions in 2025.

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Transcript

Phil: 0:00

The Fernie Real Estate Market has just kicked off 2025 with a bang. 19 new listings, prices shifting and a major swing in inventory. Is the market heating up or cooling down? Let's break it all down in the first Fernie Real Estate Market Summary for 2025.

0:17

Welcome to the property mindset podcast. The home of the Fernie real estate market report.

Phil: 0:24

But before we jump in, just want to say if you're enjoying this content and haven't subscribed yet, just take a second to hit that subscribe button. It helps us grow the channel and bring you more valuable insight into the Fernie real estate market. Now, let's get into it. It is the beginning of February. That means one thing, the market summary for Fernie Real Estate, January, 2025, first one of the year. let's get into it. we had 19 new listings in January. It's up 90 percent on this time last year, sold listings, up 10%. We had. eight sold listings, in January 2025, the median price in January 2025 was, 450, 250. That's actually down 61 percent on last year. the reason the median price is that low is because we had a real range of properties in those eight properties. the most expensive property, actually one of our buyers bought the property on 5420 resort drive for 3 million. 125, 000. So that was the most expensive property that sold in January. And then at the bottom end, there was a quarter share that sold for 155, 000. the median price for January 2025 is 450, 250. the average price for January 2025 was 1, 008, 350. That's up 19 percent on the same time last year, and the average sale price of those eight listings last month was 904, 274. That's up 12%. the sale to list ratio is actually down 2% to 93%. So on average, when you list your property in January you would expect to get 93% of that list value. days are markets interesting. It's up 122 days. It's down, 19% on this time last year. That means properties, sticking around for a bit. Typical of this time of year, but that number definitely has, crept up, for last month. Month supply of inventories, shot up actually. In December, it was three point something, which Did kind of give an indication that it was, moving back towards a seller's market, but month supply of inventory for January 2025 is 5. 26. That's up 47%. So that would suggest we're moving back. to a more supplied market. We had 19 new listings come on. we are potentially moving back to more of a balanced market, even edging towards maybe a buyer's market, active inventory. We've got 75, that's up 47 percent on same time last year. So yeah, if we look at this graph over the last 10 years, we can see that the average sale price in the last 10 years Inferny, has increased on average year on year percentage increase 8. 31%. So as of the end of last year, we are looking at an average sale price now in Fernie of 904, 275. Now, as we mentioned, the median price actually dropped dramatically, and I did explain at the beginning of the video why that was, but that has, dropped down significantly from the median price in 2024 of, 723, 250. So if we take a snapshot of the last five years in Fernie, the year on year percentage increase is 13. 83%. if you bought a property back in 2021, every single year, that property on average has appreciated 13, almost 14%, 13. 83%. Now, if we look at the median values, we're not going to take into the account the low value 450, 000 of last month cause that's going to average out as we go through the year. So the median price of the last five years in Fernie actually increased by 15. 77%. the median value year on year increase is almost 16 percent from 2021. if we take that into consideration, that percentage drops dramatically to 2. 39. But as I mentioned, it will even itself out as the year. So thanks for tuning into the Property Mindset Podcast. First Friday of every month is our Fernie Market Summary. so if you are thinking about buying or selling in Fernie, then as always, my number is 778 745 0347. Happy to help with any inquiries that you may have, don't forget to subscribe. Leave a comment below. And also, if you know anyone looking to buy or sell in the Fernie market and would find value in our market reports, please forward it to them. until next time, I'm Phil Gadd. Stay focused, stay informed and keep building that property mindset.