February 2025 Fernie Market Pulse: Surging Listings & Shifting Prices

Send us a text

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.

👉 Schedule a consultation with Phil today

🔔 Don’t forget to subscribe for more real estate insights and Fernie lifestyle tips!

Show Sponsor: First Tracks Real Estate Group - eXp Luxury

YOUTUBE - 🎥
INSTAGRAM - 📸
FACEBOOK - 💬

Episode Transcript

Phil (00:00):
Fernie's real estate market is shifting.
New listings are up, but salesare slowing.
The median sale price hasdropped to staggering 35%
compared to last year.
What does this mean for buyers and sellers in Fernie in
2025?
Are we turning into a buyer'smarket?
Stick around as we break downthe numbers and what they mean

(00:21):
for you.
With my February 2025 FernieReal Estate Market Summary.
Welcome to the property mindsetpodcast.
The home of the Fernie realestate market report.
Hey, so it is that time of the month.
It's the beginning of March, sowe are into February 2025.

(00:42):
Fernie Real Estate MarketSummary.

(01:31):
new listings in February 23, up21%.
I'm going to give you a bit moreinformation 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 forinventory.
So buyers out there.
There's a lot more properties onthe market this year than last

(01:53):
year.
sold listings.
We had eight sold listings inFebruary, 2025.
That's actually down 27%, on2024, February, 2024.
sold listings today.
So we've had 16 sold listingssince the beginning of the year.
It's actually exactly the sameas last year, at this time.

(02:14):
So, sold listings, remaining thesame, as of last year, median
price.
So the median price, year todate.
is currently at 535, 000, whichis 35 percent down on.
This time last year.
So the median price is the pricethat's in the middle of
everything that's sold.

(02:35):
currently it's down 35 percenton this time last year.
in February 2025, the averagelist price in Fernie was 767,
488.
up 11 percent on February 2024the average sale price in
February 2025 was 740, 074that's up 13%.

(03:03):
So we're actually gonna look nowat the average prices, year to
date, 2025.
list price is 887,919.
That's up 20% on 2024, and theaverage sale price year to date
is, 822,174, and that's up 17%on 2024.

(03:27):
So as we stand in 2025, prices,are getting listed and selling.
considerably higher than theywere in 2024.
the average days on market inFebruary, 2025 is 102 days.
That's up 13%.
So property is staying on themarket, a little bit longer

(03:48):
than.
sellers would like, A sale tolist ratio is up 2 percent to
97%.
So properties are actuallyselling at 90 percent of their
value of what they actually werelisted at.
So let's look at inventory.
we're up.
Quite a lot on properties thathave been listed.
the active inventory ofFebruary, 2025 is up 35% at 84

(04:13):
and the month's supply.
of inventory.
So the MSI number is at six,that's up 20%.
So that would give us theindication that we're in a
buyer's market.
So as always, we're going tolook at the average selling
price from the last 10 years.

(04:35):
the year on year averageincrease is at 9.
if you listed your property backin 2015, the average selling
price back then was 345, 000.
Fast forward 10 years to 2025and the average selling price in
Fernie as it stands year to dateis 822, 175.

(05:01):
Median selling price for thelast 10 years, median price back
in 2015 was 330, 000.
move forward.
to this year.
We are actually at 535, 000 yearto date.
last year, the average, sorry,last year, medium selling price
was 723, 250.

(05:22):
there's probably been somefairly high and low.
selling points so far, the 16properties that have sold.
So that's why we're getting anumber that's a lot lower
currently.
So that number will probably,change as a year progresses, but
the median year on year averageincrease is 6.
28%.

(05:43):
If we zoom in a little bit, sothe pre COVID years.
from 2021.
the average year on yearincrease in properties in Fernie
on the average selling price was11.
37%.
if we look at the median year onyear increase, not including
this year so far, from 21.

(06:03):
to 2024 say the median year onyear average increase percentage
increase is at 15.
77 percent if we include thisyear that that year on year
average that year on year medianaverage increase is 5.
32 percent So once again, someinteresting numbers here in the

(06:25):
Fernie real estate market asalways, if you are thinking of
buying or selling please get incontact.
778 745 0347.
Is my direct number if you knowanyone who's thinking about
buying selling or investingplease pass them along to us.
We're more than happy to givethem some advice on the local

(06:48):
market.
As always stay informed, stay upto date and keep building that
property mindset.