Fernie Market Update: March 2025 – Shifts, Surprises & Tariffs!

Explore the Fernie real estate landscape with Phil Gadd in the March 2025 episode of The Property Mindset Podcast:

• New Listings Surge: A 28% jump to 78 year-to-date listings – what's driving the increase?
• Sales Performance: Identical to last year with 17 homes sold in March – stability or stagnation?
• Median Price Adjustments: A slight decrease to $670,000, down 4% – signs of market correction?
• Pricing Trends: Average listing prices down 17% year-over-year; sale prices reflect cautious optimism.
• Market Tempo: Days on market decrease by 18% – faster sales indicating increased demand?
• Inventory Insights: Active inventory up by 20% to 104 – are we leaning towards a buyer's market with a MSI of 6.03?
• Long-term Growth: Analyzing a decade of data – average annual price growth remains strong at 8.89%.

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Transcript

Phil: 0:00

The big question everyone is asking right now. Are Trump's tariffs affecting the Fernie real estate market? Listings are up. Homes are selling fast, and the median price is climbing. But what does that mean for buyers and sellers in Fernie's real estate market today? Let's dig into the numbers and discover Fernie's Real Estate Market Report March, 2025.

0:21

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

Phil: 0:29

It is NY Market Summary March, 2025. March already. Wow. This year is trucking along, new listings. 26 new listings in March, 2020 5 78. In total, year to date in 2025. That's up 28%, sold listings. 17 in March. exactly the same as this time last year, and 35 listings sold, year to date. again, exactly the same number as 2024. the median price, is only down 4% this month, though it's creeping up, six, 670,000. and that's, much higher than last month. So the median price is slowly creeping up as we, edge through the year. average prices. the average list price in March, 2025 is 800. Thousand 988. It's actually down 17% on this time last year. the average sale price in March, 2020 5, 770 2,941 15% down on March, 2024. average price is year to date, so the average list price, year to date is up 1% at 843,000. 371. Not sure if you can hear that, but the train's chugging by the sale price. The average sale price year to date 2025 is 789,280. That's up 3%. sale to list ratio. Up 2% at 97%. So if you sell your house, you can expect on average to get 97% of what you listed it for. days on market is down 18%. That means houses are selling quickly. That means we are, getting into a very active market. So if you're out there looking to buy. Property, you need to have all your ducks in a row. Number one thing, get pre-qualified. If you're a seller, get your house listed on the market. There's buyers out there and there is pent up demand in certain price points, definitely below a million dollars. Here in Ferny, the MSIA month supply of inventory is up 11%, 6.03. that would indicate we are in a buyer's market and active inventory is at 104, and that's up 20% on March, 2024. let's look at the average year on year increase since 2021 of the average house price in Ferny. as of March, 2025, the average Ferny home is selling for 798,285, and that is a 10.77% average year on year percentage increase. So the average year on year percentage change over the last decade. Is a positive 8.89%. if you bought a house 10 years ago every year, it would've appreciated by 8.89%. the median year on year percentage increase, is 12.06. as we said, the medium house price as of this month, or last month, is 670,000. that's edging up, as we move through the year. the median price if you bought a house in 2021 has increased by 12.06% every year in the last five years. The median year on year percentage increase for the last decade or median sale price is 6.28%. if you would like more information on the Ferney real Estate market, my direct number is(778) 745-0347. You can call me direct, you can email me phil@philgad.com. I'll happily give you more information on the Ferney market as we move into this year. the word on the street is, Trump tariffs at the moment. are they having effect. on the Ferney real estate market? not right now. at a certain price point, like I mentioned earlier, there is massive pent up demand. Properties are going over ask with multiple offers, The market is very active. We're moving into a spring market. if you're looking to buy, have a conversation with us. We'll be able to get you into a position to purchase. If you're looking to sell, now is a very good time to get your house on the market. we can help with, CMA reports helping you achieve market value and, seeing if it's the right time for you to do that. So once again, Phil Gad First Tracks Real Estate Group. my direct number is 7 7 8 7 4 5 0 3 4 7. we would love to help you either buy or sell real estate here in Ferny.