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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Episode Transcript
The Fernie Real Estate Market has just kicked off 2025
(00:03):
with a bang.
19 new listings, prices shiftingand a major swing in inventory.
Is the market heating up orcooling down?
Let's break it all down in thefirst Fernie Real Estate Market
Summary for 2025.
Welcome to the property mindsetpodcast.
The home of the Fernie realestate market report.
(00:24):
But before we jump in, just want to say if you're
enjoying this content andhaven't subscribed yet, just
take a second to hit thatsubscribe button.
It helps us grow the channel andbring you more valuable insight
into the Fernie real estatemarket.
Now, let's get into it.
It is the beginning of February.
That means one thing, the marketsummary for Fernie Real Estate,
(00:46):
January, 2025, first one of theyear.
let's get into it.
we had 19 new listings inJanuary.
It's up 90 percent on this timelast year, sold listings, up
10%.
We had.
eight sold listings, in January2025, the median price in
January 2025 was, 450, 250.
(01:10):
That's actually down 61 percenton last year.
the reason the median price isthat low is because we had a
real range of properties inthose eight properties.
the most expensive property,actually one of our buyers
bought the property on 5420resort drive for 3 million.
(01:32):
125, 000.
So that was the most expensiveproperty that sold in January.
And then at the bottom end,there was a quarter share that
sold for 155, 000.
the median price for January2025 is 450, 250.
the average price for January2025 was 1, 008, 350.
(01:55):
That's up 19 percent on the sametime last year, and the average
sale price of those eightlistings last month was 904,
274.
That's up 12%.
the sale to list ratio isactually down 2% to 93%.
(02:16):
So on average, when you listyour property in January you
would expect to get 93% of thatlist value.
days are markets interesting.
It's up 122 days.
It's down, 19% on this time lastyear.
That means properties, stickingaround for a bit.
(02:37):
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 pointsomething, which Did kind of
give an indication that it was,moving back towards a seller's
market, but month supply ofinventory for January 2025 is 5.
(03:01):
26.
That's up 47%.
So that would suggest we'removing back.
to a more supplied market.
We had 19 new listings come on.
we are potentially moving backto more of a balanced market,
even edging towards maybe abuyer's market, active
inventory.
We've got 75, that's up 47percent on same time last year.
(03:28):
So yeah, if we look at thisgraph over the last 10 years, we
can see that the average saleprice in the last 10 years
Inferny, has increased onaverage year on year percentage
increase 8.
31%.
So as of the end of last year,we are looking at an average
(03:49):
sale price now in Fernie of 904,275.
Now, as we mentioned, the medianprice actually dropped
dramatically, and I did explainat the beginning of the video
why that was, but that has,dropped down significantly from
(04:10):
the median price in 2024 of,723, 250.
So if we take a snapshot of thelast five years in Fernie, the
year on year percentage increaseis 13.
83%.
if you bought a property back in2021, every single year, that
(04:35):
property on average hasappreciated 13, almost 14%, 13.
83%.
Now, if we look at the medianvalues, we're not going to take
into the account the low value450, 000 of last month cause
that's going to average out aswe go through the year.
So the median price of the lastfive years in Fernie actually
(04:55):
increased by 15.
77%.
the median value year on yearincrease is almost 16 percent
from 2021.
if we take that intoconsideration, that percentage
drops dramatically to 2.
39.
But as I mentioned, it will evenitself out as the year.
(05:16):
So thanks for tuning into theProperty Mindset Podcast.
First Friday of every month isour Fernie Market Summary.
so if you are thinking aboutbuying or selling in Fernie,
then as always, my number is 778745 0347.
Happy to help with any inquiriesthat you may have, don't forget
(05:37):
to subscribe.
Leave a comment below.
And also, if you know anyonelooking to buy or sell in the
Fernie market and would findvalue in our market reports,
please forward it to them.
until next time, I'm Phil Gadd.
Stay focused, stay informed andkeep building that property
mindset.
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