February 2025 Fernie Market Pulse: Surging Listings & Shifting Prices

Dive into the Fernie real estate market with our comprehensive February 2025 update in this episode of The Property Mindset Podcast. This month, we’ve witnessed a significant 21% increase in new listings and a notable change in sales dynamics, with prices showing unexpected movements. We explore what these developments mean for both buyers and sellers as inventory changes shape the market landscape.

Key highlights include:

• A detailed analysis of the rise in new listings and what it signals for potential buyers.
• Insights into the sales slowdown and the factors driving the 35% drop in median sale prices compared to last year.
• An overview of market trends and how these might affect future real estate decisions in Fernie.
• Expert predictions for the remainder of 2025 and how current trends could impact long-term market behavior.

Whether you're considering buying, selling, or just staying informed on real estate trends, this episode offers vital statistics and expert interpretations to help you navigate the complexities of the Fernie real estate market. Tune in to stay ahead of the curve in one of Canada's most dynamic real estate markets.

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Transcript

Phil: 0:00

Fernie's real estate market is shifting. New listings are up, but sales are slowing. The median sale price has dropped to staggering 35%

0:10

compared to last year.

Phil: 0:11

What does this mean for buyers and sellers in Fernie in 2025? Are we turning into a buyer's market? Stick around as we break down the numbers and what they mean for you. With my February 2025 Fernie Real Estate Market Summary.

0:26

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

Phil: 0:34

Hey, so it is that time of the month. It's the beginning of March, so we are into February 2025. Fernie Real Estate Market Summary. new listings in February 23, up 21%. I'm going to give you a bit more information moving forward. So new listings year to date. so from the 1st of January, 2025, we've had 42 new listings. So that's 43%. So that's good news for inventory. So buyers out there. There's a lot more properties on the market this year than last year. sold listings. We had eight sold listings in February, 2025. That's actually down 27%, on 2024, February, 2024. sold listings today. So we've had 16 sold listings since the beginning of the year. It's actually exactly the same as last year, at this time. So, sold listings, remaining the same, as of last year, median price. So the median price, year to date. is currently at 535, 000, which is 35 percent down on. This time last year. So the median price is the price that's in the middle of everything that's sold. currently it's down 35 percent on this time last year. in February 2025, the average list price in Fernie was 767, 488. up 11 percent on February 2024 the average sale price in February 2025 was 740, 074 that's up 13%. So we're actually gonna look now at the average prices, year to date, 2025. list price is 887,919. That's up 20% on 2024, and the average sale price year to date is, 822,174, and that's up 17% on 2024. So as we stand in 2025, prices, are getting listed and selling. considerably higher than they were in 2024. the average days on market in February, 2025 is 102 days. That's up 13%. So property is staying on the market, a little bit longer than. sellers would like, A sale to list ratio is up 2 percent to 97%. So properties are actually selling at 90 percent of their value of what they actually were listed at. So let's look at inventory. we're up. Quite a lot on properties that have been listed. the active inventory of February, 2025 is up 35% at 84 and the month's supply. of inventory. So the MSI number is at six, that's up 20%. So that would give us the indication that we're in a buyer's market. So as always, we're going to look at the average selling price from the last 10 years. the year on year average increase is at 9. if you listed your property back in 2015, the average selling price back then was 345, 000. Fast forward 10 years to 2025 and the average selling price in Fernie as it stands year to date is 822, 175. Median selling price for the last 10 years, median price back in 2015 was 330, 000. move forward. to this year. We are actually at 535, 000 year to date. last year, the average, sorry, last year, medium selling price was 723, 250. there's probably been some fairly high and low. selling points so far, the 16 properties that have sold. So that's why we're getting a number that's a lot lower currently. So that number will probably, change as a year progresses, but the median year on year average increase is 6. 28%. If we zoom in a little bit, so the pre COVID years. from 2021. the average year on year increase in properties in Fernie on the average selling price was 11. 37%. if we look at the median year on year increase, not including this year so far, from 21. to 2024 say the median year on year average increase percentage increase is at 15. 77 percent if we include this year that that year on year average that year on year median average increase is 5. 32 percent So once again, some interesting numbers here in the Fernie real estate market as always, if you are thinking of buying or selling please get in contact. 778 745 0347. Is my direct number if you know anyone who's thinking about buying selling or investing please pass them along to us. We're more than happy to give them some advice on the local market. As always stay informed, stay up to date and keep building that property mindset.