Fernie, British Columbia Real Estate Market Data
Updated: Nov 2024
House
| Median price | $550,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $550,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $270,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $470,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Fernie, British Columbia, is currently experiencing stable growth. With a median house price of $550,000 and a year-over-year increase of 4%, the market is showing signs of steady appreciation. Apartment dwellings are also observing a positive trend, with the median apartment price at $320,000 and an increase of 2.5% over the last year.
The population of Fernie stands at approximately 15,500 residents, with a notable growth rate of 3.3%. This demographic expansion is contributing to a persistent demand for housing in the region. Additionally, Fernie’s natural beauty and outdoor recreational opportunities continue to attract both short-term visitors and long-term residents, supporting a vibrant housing market.
Investment Opportunities and Potential
Fernie presents several attractive investment opportunities within its real estate sector. The consistent growth in property values suggests a favourable environment for long-term capital gains. Residential properties, particularly single-family homes with the current median price point of $550,000, offer potential for solid returns given the sustained upward trend in prices.
Furthermore, the rental market is likely to benefit from both population growth and tourism, making apartment investments appealing. With apartments appreciating at a rate of 2.5% annually and an increasing demand for rental accommodations due to population growth and seasonal tourism activities, investors may find good prospects for rental income alongside asset appreciation.
Future Market Outlook
The future outlook for Fernie’s real estate market remains optimistic. The city’s continuous population growth will likely maintain upward pressure on both housing demand and property values. As such, the trends observed with median house prices rising by 4% and apartments by 2.5% are expected to persist in the near term.
Economic factors such as employment rates, local development projects, and interest rates should be monitored closely as they can influence market dynamics. Nonetheless, if current trends and economic conditions hold steady, Fernie’s real estate market is poised for ongoing growth with potentially rewarding opportunities for investors and homebuyers alike.
