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

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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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Episode Transcript

Phil (00:00):
The big question everyone is asking right now.

(00:02):
Are Trump's tariffs affectingthe Fernie real estate market?
Listings are up.
Homes are selling fast, and themedian price is climbing.
But what does that mean forbuyers and sellers in Fernie's
real estate market today?
Let's dig into the numbers anddiscover Fernie's Real Estate
Market Report March, 2025.
Welcome to the property mindsetpodcast.

(00:24):
The home of the Fernie realestate market report.
It is NY Market Summary March, 2025.
March already.
Wow.
This year is trucking along, newlistings.
26 new listings in March, 2020 578.
In total, year to date in 2025.

(00:46):
That's up 28%, sold listings.
17 in March.
exactly the same as this timelast year, and 35 listings sold,
year to date.
again, exactly the same numberas 2024.

(01:47):
the median price, is only down4% this month, though it's
creeping up, six, 670,000.
and that's, much higher thanlast month.
So the median price is slowlycreeping up as we, edge through
the year.
average prices.
the average list price in March,2025 is 800.

(02:08):
Thousand 988.
It's actually down 17% on thistime 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

(02:31):
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 todate 2025 is 789,280.
That's up 3%.

(02:53):
sale to list ratio.
Up 2% at 97%.
So if you sell your house, youcan expect on average to get 97%
of what you listed it for.
days on market is down 18%.
That means houses are sellingquickly.
That means we are, getting intoa very active market.
So if you're out there lookingto buy.

(03:16):
Property, you need to have allyour ducks in a row.
Number one thing, getpre-qualified.
If you're a seller, get yourhouse listed on the market.
There's buyers out there andthere is pent up demand in
certain price points, definitelybelow a million dollars.
Here in Ferny, the MSIA monthsupply of inventory is up 11%,

(03:39):
6.03.
that would indicate we are in abuyer's market and active
inventory is at 104, and that'sup 20% on March, 2024.
let's look at the average yearon year increase since 2021 of
the average house price inFerny.

(03:59):
as of March, 2025, the averageFerny home is selling for
798,285, and that is a 10.77%average year on year percentage
increase.
So the average year on yearpercentage change over the last

(04:20):
decade.
Is a positive 8.89%.
if you bought a house 10 yearsago every year, it would've
appreciated by 8.89%.
the median year on yearpercentage increase, is 12.06.
as we said, the medium houseprice as of this month, or last

(04:42):
month, is 670,000.
that's edging up, as we movethrough the year.
the median price if you bought ahouse in 2021 has increased by
12.06% every year in the lastfive years.
The median year on yearpercentage increase for the last
decade or median sale price is6.28%.

(05:04):
if you would like moreinformation on the Ferney real
Estate market, my direct numberis(778) 745-0347.
You can call me direct, you canemail me [e-mail].
I'll happily give you moreinformation on the Ferney market
as we move into this year.
the word on the street is, Trumptariffs at the moment.

(05:26):
are they having effect.
on the Ferney real estatemarket?
not right now.
at a certain price point, like Imentioned earlier, there is
massive pent up demand.
Properties are going over askwith multiple offers, The market
is very active.
We're moving into a springmarket.
if you're looking to buy, have aconversation with us.

(05:46):
We'll be able to get you into aposition to purchase.
If you're looking to sell, nowis a very good time to get your
house on the market.
we can help with, CMA reportshelping you achieve market value
and, seeing if it's the righttime for you to do that.
So once again, Phil Gad FirstTracks Real Estate Group.
my direct number is 7 7 8 7 4 50 3 4 7.

(06:10):
we would love to help you eitherbuy or sell real estate here in
Ferny.