A drop from 100% to 95% maximum capacity after three weeks and 13 additional cycles is worth keeping an eye on, but it does not, by itself, show that there is a problem with the battery.
Your M1 MacBook Air has a maximum cycle count of 1,000. Apple says its batteries are designed to retain up to 80% of their original capacity at that point under normal conditions.
Battery capacity also decreases with chemical aging, which is affected by factors such as temperature and charging patterns. Apple Support — About battery health management in Mac laptops with Apple silicon
Your cycle count has gone from 18 to 31, but that does not mean those 13 cycles caused a 5% physical loss of capacity.
Apple does not publish an expected capacity percentage for a battery at 31 cycles, so the 95% figure cannot be judged from the cycle count alone.
Because this is a MacBook Air can can date back to 2020, the battery's age and history are also relevant.
Apple notes that the time between manufacture and first use can affect the reported capacity, and that macOS may recalibrate the maximum-capacity measurement after a software update. Apple Support — About battery health management in Mac laptops with Apple silicon
It would also be worth checking System Settings > General > About > Parts & Service.
If macOS detects a previous repair, this can provide information about the repaired part and, where applicable, the service date.
However, Apple says that the absence of this section does not by itself establish that the Mac has never been repaired. Apple Support — About Mac parts and service history
Finally, check System Settings > Battery > Battery Health.
The more significant indication would be Service Recommended, rather than the 95% figure by itself.
Apple says this means the battery's ability to hold charge is lower than when new or that it is not functioning normally. Apple Support — If you see battery “Service Recommended” on your Mac laptop
So, based on the information available, I would monitor it rather than draw a conclusion from the 95% reading alone.
If the capacity continues to fall substantially over a short period, or macOS reports Service Recommended, the battery would be worth having assessed.
Apple Support — Determine battery cycle count for Mac laptops