Fernie, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Fernie, British Columbia, is currently experiencing a steady growth in property values. The median house price stands at $500,000, which marks a 3.5% year-over-year increase. This growth indicates a healthy market that is attractive to homeowners looking for long-term appreciation on their investments.
Apartments in Fernie are also seeing a positive trend with the median price at $300,000, having risen by 2.1% year-over-year. This slower rate of increase compared to houses suggests that apartments may be more accessible for first-time buyers or investors seeking lower entry points into the market.
The population of Fernie has reached 15,000 residents, with a significant growth rate of 7.1%. This demographic expansion contributes to the demand for housing and supports the continuous development of the real estate market.
Investment Opportunities and Potential
Fernie’s growing population and rising property values represent promising opportunities for investors. The consistent upward trend in house prices makes purchasing residential properties an attractive option for those looking to capitalize on equity gains over time.
With respect to rental properties, the influx of new residents could translate into higher demand for apartments, potentially leading to increased rental yields. Investors might find value in targeting this segment of the market, especially considering the more moderate price appreciation in apartments relative to houses.
The city’s economic stability and lifestyle appeal also enhance its attractiveness as an investment destination. Investors should consider diversifying their portfolios by including both residential and rental properties to take advantage of different segments within Fernie’s real estate market.
Future Market Outlook
The future outlook for Fernie’s real estate market is positive. The ongoing population growth coupled with the current trends suggests that demand for housing will continue to rise. If these conditions persist, investors and homeowners can expect sustained growth in property values.
The region’s natural beauty and outdoor recreation opportunities make it a desirable location for both permanent residents and seasonal visitors. This unique appeal is likely to support both the resale market and vacation rental sectors moving forward.
However, it is essential for investors and potential homeowners to monitor local economic developments and stay informed about any changes in regulations or external factors that could impact the housing market. Keeping abreast of these changes will be key to making well-informed decisions in this dynamic market.
