With a median listing price of $506,950, Fernie is Canada’s 410th most expensive when ordered by median listing price.
While the median for British Columbia is $519,000 , which means that Fernie’s median price is $506,950 considerably better than the rest of the province.
In province, the most common property on the listings this month has 3 bedrooms, in this neighbourhood it’s 3.
Will prices rise across the next year in in Fernie? There are a number of real estate indicators to consider.
The amount of homes for sale in neighbourhood has fallen over the last three months – this means that supply and demand economics would mean that the pressure on house prices has also grown.
The median asking price in Fernie is $199,900, pretty close to the median three months ago which was $204,900 .
The median house price listed in Fernie this month is $199,900.
Across Canada the most common number of bedroom property being listed has 2 bedrooms, in Aug this neighbourhood’s most common listing has properties with fewer bedrooms.
There are 124 neighbourhoods that have more properties on sale than Fernie at the moment in British Columbia which puts the neighbourhood in the top 20% when looking at the number of properties to choose from.
Can we guarantee how well Fernie is going to do next year? No, but we can look at the data we have and use it as a starting point before doing research.
One of the important leading indicators for property investors is whether the amount of stock on the market is increasing or decreasing – as more comes on buyers have more choice so prices can tend to drop. In Fernie, the amount of stock on the market has decreased which is a positive indicator for house prices. Three months ago there were 98, this month we show 89.