This week I wanted to focus on the average sold price in Fernie and Sparwood real estate markets. This first graph shows the average house price in Fernie [current in red]
This second graph is the average price of a Sparwood property.
As you can see both markets have increased the average sold price overall. The Fernie market had a spike in the previous year around March, where a series of higher price point properties sold, with Sparwood having similar spikes in both April and August of the previous year. According to BC Assessment, the City of Fernie jurisdiction change from 2019 to 2020 was an increase of 8%, see the graph below.
This data demonstrates that Fernie & Sparwood are still strong markets that continue to grow, pushing the average property price upwards. We’ve had a bunch of new properties hit the market in the recent week, increasing inventory competition in both markets.
If you have thoughts of selling this year and would like to discuss and find out how much yours is worth, please get in touch?