Yellowknife Real Estate InformationRecently posted or modified blog postshttps://www.yellowknife-realestate.com/blog/Copyright Yellowknife-RealEstate.com2024-03-27T16:21:42-07:00tag:yellowknife-realestate.com,2012-09-20:22624Yellowknife Real Estate Market Update March 27 2024Yellowknife Real Estate Market Update March 27 2024
Hello and thank you for reading the Yellowknife Real Estate Market Update for the 2 weeks preceeding March 27 2024. The real estate market is up and kicking, properties below 500k are selling quickly and in many cases in multiple offers. Homes above 500k if priced well are having a similar result albeit in some cases its taking a bit longer and small bits are shaved off the listed price.
The past 2 weeks brought 15 new listings on the market, 2 of which already have accepted offers. Average price of these new listings is $546,733.33
Over the same time period we saw 13 sales go through. Average list price of these 13 sales was $539,491.67 and the average sale price of those same listings is $542,300. This means the average listing these past 2 weeks sold for more than it was listed for! 2024-03-27T13:39:17-07:002024-03-27T16:21:42-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:22466Yellowknife Real Estate Market Update March 13 2024Yellowknife, the market is alive and well! Thank you for checking out this weeks Yellowknife Real Estate market update.
The Yellowknife Real Estate market is firing up, we have seen a lot of new listings and the buyer action is firing up with mortgage rates inching lower and more listings hitting the market. Though the Bank of Canada is holding rates we have seen mortgage rates begin to move in the right direction and there is much anticipation for a Bank of Canada rate drop later on this spring summer.
In terms of listing activity Yellowknife has seen 10 new listings hit the market over the past week, 4 of which already have accepted offer. Average list price of new homes in the market this week is $567,330.
This past week we saw 8 conditional sales in Yellowknife and 4 firm/unconditional sales take place. Average list price of sold homes was $445,925 and the average sale price of those same listings is $430,750 meaning on average homes are selling at 97% of listed price.
Thank you for reading this weeks Yellowknife Real Estate market update! Call Nathan Round to find our how much your home would sell for in todays market. 867-446-24582024-03-13T11:05:52-07:002024-03-13T12:04:07-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:22303Yellowknife Real Estate Market Update March 4 2024Yellowknife Real Estate Update March 4 2024
Hey All! Thank you for checking out this weeks Yellowknife Real Estate Update. The market is alive and well. We are still tight for inventory but what is available is starting to attract attention and offers. I brought some buyers by a condo this past weekend which attracted 4 offers, so the buyers are there if you are looking to sell! Anything well priced is starting to get snatched up and we are starting to see the listings rolling onto the market.
New Yellowknife listings: This past week Yellowknife saw 7 new residential listings hit the market at an average price of $627,000. 1 of which already attracted an accepted offer.
Sales: The Yellowknife market saw 3 conditional sales this past week and 3 firm sales. One of the firm/unconditional sales taking place this past week was my listing 1006 Cameron River, a beautiful cabin property only 45 minutes from the city. I am so appreciative of my sellers for choosing to work with me on this sale and thank my colleague Shane Clark for bringing forward the buyers on that sale. 2024-03-04T16:38:40-07:002024-03-04T17:04:20-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:22105Yellowknife Real Estate Market Update February 28 2024Welcome to this weeks Yellowknife Real Estate Market Update!
The market is waking up, slowly but surely. Over the past week we saw 9 new listings hit the market in Yellowknife. Average listed price of new listings this week is $622,700.
This past week Yellowknife saw 5 conditional sales and 4 firm sales. Average listed price of sold homes in Yellowknife this past week was $422,400 and the average sale price of those same properties is $407,975.
Thats the short and sweet of it! Happy to see more homes coming up for sale here in Yellowknife, the market is showing some activity.2024-02-28T13:26:04-07:002024-02-28T13:30:53-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:22023Yellowknife Real Estate Market Update February 20 2024Yellowknife Real Estate Market Update February 20 2024
Hi all and thank you for checking out this weeks Yellowknife Real Estate Market Update. We are finally starting to see some new and exciting homes for sale after a couple months of slow activity over the winter and holidays.
This past week Yellowknife saw 9 new homes listed for sale. 6 condos and 3 single family homes. The average listed price for new listings this past week is $477,700.
Yellowknife real estate saw 1 price change and 2 conditional sales. We only saw 2 firm sales this past week, with the average sale price of those 2 homes being $497,450.
My tip for buyers looking to start their search this year is get a pre approval with a mortgage broker/lender as soon as you can. Waiting doesnt do you any benefit. Start familiarizing yourself with what Yellowknife homes in your budget look like. Not everyone can afford a 4 bedroom house with a 2 car garage and a massive fenced yard, we all start out somewhere. 2024-02-20T16:11:15-07:002024-02-20T16:18:18-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:21965Yellowknife Snow CastleThe Snow Castle of Yellowknife
Nestled in the heart of Canada's northern wilderness, Yellowknife is known for its breathtaking landscapes and winter wonders. One such marvel that captures the imagination of locals and visitors alike is the annual creation of the Snow Castle—a spectacular icy fortress that transforms the Great Slave Lake into a winter wonderland.
Each year, as the temperatures plummet and the snow blankets the city in a pristine white coat, a team of dedicated artists and builders embark on a chilly adventure to construct the Snow Castle. Inspired by the natural beauty of the northern wilderness, this frozen masterpiece stands as a testament to the creativity and resilience of the Yellowknife community.
The Snow Castle is not your average snow fort. Meticulously crafted with precision and skill, this frozen fortress features intricate details and stunning architecture. Towering spires, majestic turrets, and winding corridors showcase the talent and dedication of the builders who work tirelessly to bring this icy spectacle to life.
As the sun sets over Yellowknife, the Snow Castle transforms into a magical spectacle. Bathed in a soft glow from strategically placed lights, the castle takes on an ethereal quality. The play of light and shadows accentuates the intricate carvings and adds an extra layer of enchantment to this frozen masterpiece.
The Snow Castle is not just a visual delight; it also serves as a hub for winter activities and celebrations. From ice sculptures and snow slides to outdoor performances and cultural events, the castle becomes a focal point for the community to come together and embrace the beauty of winter.
The construction of the Snow Castle is a community effort that brings people together, fostering a sense of camaraderie and pride. Locals and visitors alike join hands to celebrate the winter season, creating memories that last a lifetime.
The Snow Castle in Yellowknife stands as a symbol of creativity, resilience, and community spirit. As winter descends upon the city, the enchanting beauty of this frozen fortress captivates the hearts of all who behold it, turning Yellowknife into a true winter wonderland. Whether you're a resident or a traveler, experiencing the magic of the Snow Castle is an unforgettable adventure that showcases the unique charm of Canada's northern wilderness2024-02-13T12:22:42-07:002024-02-13T12:24:51-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:21964Why you should consider selling with a realtor this year in YellowknifeThe Pitfalls of Selling Your Home in Canada Without a Realtor: Why Yellowknife Deserves Special Attention
If you're considering selling your home in Canada, you might be tempted to go the "for sale by owner" (FSBO) route to save on realtor commissions. While this might seem like a cost-effective approach, there are several compelling reasons why it's not advisable, especially in a unique market like Yellowknife.
1. Missing Out on More Money in Yellowknife's Unique Market:
Yellowknife, nestled in the heart of Canada's Northwest Territories, boasts a real estate market with its own set of dynamics. The picturesque landscapes and growing local economy make it an attractive location for buyers. However, navigating this market requires a nuanced understanding that local real estate agents possess. According to recent data for sale by owner listings sell for 5-10% less on average and for the most part take longer to sell than professionally listed properties. Beyond that, the rate of legal/contractual issues is far higher with for sale by owner homes.
2. Selling Real Estate: A Full-Time Job in Yellowknife's Booming Economy:
Yellowknife's economy has been experiencing growth, attracting both residents and investors. With this boom comes increased demand in the real estate sector. Selling a home is not just about sticking a "For Sale" sign in the front yard; it's a comprehensive process that requires time and dedication. In Yellowknife, where the market is dynamic and ever-changing, keeping up with the latest trends and buyer preferences is crucial. Realtors in Yellowknife are well-versed in these nuances, ensuring that your property is presented in the best light to the right audience.
3. Navigating Legal Hurdles in Yellowknife's Unique Regulatory Landscape:
Yellowknife, as the capital of the Northwest Territories, has its own set of regulations and legal considerations when it comes to real estate transactions. From land use regulations to environmental considerations, a realtor with experience in the local market can help you navigate these complexities. This is particularly important in Yellowknife, where the stunning natural surroundings mean that properties may have unique legal considerations that require careful attention. Avoiding legal issues is paramount, and a local realtor is your best ally in ensuring a smooth transaction.
In conclusion, selling your home in Yellowknife, or anywhere in Canada, is a significant undertaking that requires the expertise of a seasoned real estate professional. While the temptation to go the FSBO route may be strong, the potential pitfalls and financial implications, especially in a distinctive market like Yellowknife, make it a risk not worth taking. Trust the local expertise of a realtor to guide you through the process, maximize your profits, and ensure a seamless transaction in the unique context of Yellowknife's real estate landscape.2024-02-13T11:38:44-07:002024-02-13T11:51:12-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:21963Yellowknife Real Estate Market Update February 13 2024Yellowknife Real Estate Market Update February 13 2024
Hello and thank you for checking out this weeks Yellowknife Real Estate market update. I hope you all have some exciting plans for you and your sweeties for Valentines day.
The market here in Yellowknife sure feels like its has awaken. Over the past week or so we have thankfully started to see a handful of new listings hitting the market and finally some new inventory to show buyers.
This past week in Yellowknife we saw 6 new listings hit the market, 3 of which are commercial properties. Yellowknife saw 3 conditional home sales and 2 firm home sales this past week.
The average list price of the sold homes was $463,000 and the average sale price of those same homes is $453,389.
If you are looking to buy a home this spring in Yellowknife this is the time to get your pre-approval in place and start looking at homes! To get started off on the right foot call Nathan Round 867-446-2458 to get your Yellowknife home search started.2024-02-13T11:31:46-07:002024-02-13T11:38:35-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:21839Yellowknife Real Estate Market Update Feb. 5 2024Yellowknife Real Estate Market Update February 5 2024
Well it feels as though the real estate market for 2024 has woken up after an incredibly slow January and moderatly slow December. We are starting to see listings hit the market which is starting to bring about some buyer action here in Yellowknife and I am happy to see it. No we are not yet in spring market, things are slowly firing up. As such, here is what we saw in the past week here in Yellowknife real estate:
In the past 7 days Yellowknife saw 6 new listings hit the market, 2 of which already have accepted offers. In total we saw 6 conditional sales this past week and 3 firm unconditional sales take place.
Average list price this past week was $549,766. Prices in Yellowknife (in my opinion) will not be taking any dips in the Year to come. 2024 is set to bring descending interest rates, we have a healthy amount of unsatisfied buyer demand and 2024 should bring about a decent amount of inventory by way of mortgage renewals; 3 factors all of which should contribute to a busy, active market. 2024-02-05T16:22:28-07:002024-02-05T16:32:41-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:21693Yellowknife Real Estate Market Update 01/22/2024Yellowknife Real Estate Market and Listings Update
Hey All, thank you for checking out this weeks market update for Yellowknife real estate and listings.
The market is slowly coming back alive from a bit of a winter slumber. We are seeing some listings hit the market while many sellers are still option to wait for warmer weather. This week we saw 4 new listings hit the market. 1 being an industrial property we wont count in our average price. Average list price of the new residential listings this week is $584,900.
This week Yellowknife saw 1 coniditonal sale and 1 firm sale. The firm sale being a mobile home on Horton which sold for $150,000. Not necessarily a market making week but good to start seeing some more listings and activity hitting the hot sheets here in Yellowknife. 2024-01-22T12:33:22-07:002024-01-22T13:51:42-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:21654Listing Your Yellowknife Home For Sale Listing Your Yellowknife Home For Sale: Best practices to maximize value and get the deal done.
Your goal when you list your home for sale is usually pretty simple. Maximize the sale value, get the deal done on your ideal timeline and at the terms that best suit you. There's a handful of things you can do to ensure you maximize value of your Yellowknife listing and move into your new home, your new destination on your timeline.
If you are planning to move into another home here in Yellowknife that you plan to buy and you havent found that home yet then I suggest listing your home for sale and making the contract to purchase your home subject to the unconditonal purchase of your next home. In doing this, you ensure that you do not sell your home until you have found and purchased your next home. Its best to list your home, find your new home and tie the two transactions together so that you dont accidently end of up owning 2 homes or on the flip side end up selling your home with nothing to move into. In doing this, once you find the home you want to move into make your offer on that home subject to the unconditional sale of your current home. This ensures that you dont buy your new home without selling your current home, and ensures you dont sell your home without buying the new one. You'll be protected in both transactions this way ensuring your not homeless or running 2 mortgages at the same time.
When should you list your home? The best time of year to be listing your home, regardless of the situation, is the spring time or even just before. Buyer activity in Yellowknife is most active April-July. So if you list your home in March-June you have the best chance of finding buyers, even multiple buyers and maximizing the value of your sale. Remember, real estate is all about supply and demand. Quick and fruitful sales come to those who attracts more buyers, so if you can beat the influx of listings that come to market in peak months by listing just a bit earlier then everyone else or at a time when buyers are most active you'll be sure to attract attention to your listing and be able to attract 1 if not more offers on your home at terms and a price that suits you.
Every sale and every transaction is different, lets chat about your Yellowknife home for sale and how we can maximize value and get the job done on your timeline! 867-446-24582024-01-18T14:21:27-07:002024-01-18T14:34:59-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:21596Ekati Diamond Mine Extension to 2040 and its effects on the Yellowknife economyEkati announces mine life extension to 2040
With recent news of Ekati Diamond Mine owners planning to extend the mine life with potential to go as long as 2040 this may have sizeable implications on the Yellowknife economy. As Ekati is a larger employer of the North with much of its employees, materials and inputs flowing through Yellowknife this is fantastic news for Yellowknifers as a whole. As it effects not only direct employers but support employers alike such as: air carriers, trucking and logistics, trades companies, suppliers etc etc etc the North will be sure to benefit from this mine life extension.
As Yellowknife seeks its next economic driver and a transition away from diamond mine reliance we have seen exploration happening for gold, lithium, silica, precious minerals among other products, this mine life extension serves as a bit of a blanket to that transition making the transition away from diamond mine reliance smoother and easier on Yellowknife workers and business'. Without a shock-loss to the economy in the form of losing one of the Norths largest employers over the years to come we can now move towards new industries with less pressure on the economy and northern workers which would surely seek a quick entrance to new industries if Ekati were to close before new resource operations were commenced.
As I am no economist I will make no statistical claims over the effect of the mine extension or closure but I will say I am glad to know my friends and family who work directly or indirectly for Ekati will have years to transition away from the mine and into new jobs/industry.
As always if you would like to chat more about Yellowknife or the Yellowknife real estate market call or text 867-446-24582024-01-11T15:19:35-07:002024-01-11T15:37:57-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:21489Yellowknife Real Estate Update Yellowknife Real Estate Market Update January 5 2024
Hello all and thank you for checking out this weeks Yellowknife real estate update for this past week! I hope you all had an amazing holiday season and an even better start to your new year!
Over the past week or so things have been quiet in Yellowknife. Many people are still away on vacations, just getting back to town or work and settling into the New Year. But nonetheless the market carries on and here are the numbers!
This past week we saw 0 new listings, for obvious reasons. Beyond the holidays with cold weather comes a slower market and it may take a couple weeks if not a couple months into the new year before Yellowknife starts to see the real estate market fire back up.
The market saw 2 price changes or previosuly listed properties, 3 coniditiona sales and 2 firm sales. On an interesting note, Blachford Lake Lodge was 1 of the 2 properties sold firm this past week, which sold for $1,200,000.
Thats about all for this weeks Yellowknife market update. Call or text if you want to chat more about the market or your real estate goals in 2024! 2024-01-05T15:14:53-07:002024-01-05T15:20:25-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:21343Christmas in YellowknifeChristmas! What a special time of year. And especially here in Yellowknife. I find the winter weather just a bit more bearable this time of year!
In terms of real estate this time of year for about the next 2 weeks (December 20 - January 3rd) the market is pretty well shut down with little activity. Christmas in Yellowknife shuts down the land titles office, sends all our GNWT employees home for the same period of time and effectively stops all activity in the Yellowknife market with exception to some showings and thats only if the home is available to view. Many people are home, enjoying thier time off work or travelling with family etc etc. So dont expect much action on your Yellowknife listing or expect to have your dream Yellowknife property show up on the market in the coming days.
Things to do in Yellowknife over Christmas:
Hopefully the city has a skating rink or two up and running. You can also check the City Of Yellowknife's web page for any public skating taking place at the multiplex. The santa claus parade has already happened but be sure to get out downtown and check out any Christmas sales happening. I saw some really great times reserved for familys at the Yellowknife Brew Pub, check their social media for family friendly dining hours. 2023-12-19T14:54:35-07:002023-12-19T15:00:28-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:21137Yellowknife Real Estate Update December 5 2023Yellowknife Real Estate Update December 5 2023
Hello all and thank you for reading this Yellowknife Real Estate update coming in on December 5th 2023.
Interesting times are being had in Yellowknife real estate right now. We have an odd mix of higher than previous years interest rates, low but not empty inventory and a seemingly reduced economy. With most individuals focused on the holidays and a lack of 'what youre looking for' in the market we are seeing a slow real estate market in Yellowknife currently. And this is coming from a realtor who's typically the most optimistic in the bunch. A realtor who just had his busiest month of 2023 (november). None the less I am seeing a slow start to the December market and expect the same heading into 2024. So, here are the numbers:
Over the past 2 weeks, Novmeber 21 - December 5th, we have seen 8 new listings hit the market with an average list price $518,925. Of these 8 new listings NONE of them have accepted offers yet.
3 properties have been relisted after expiring or having their offers collapse, and we saw 2 properties reduce their listed price.
Over the same time period we saw 4 conditional accepted offers and 7 firm sales.
Just as we saw 7 firm sales we also saw 7 listings expire/come off the market. Its not typical in Yellowknife to have as many listings coming off the market after not selling as listing being sold in a 2 week period.
We hope to see interest rates start to trickle down in the new year and a renewed market to kick off the new calendar year. If you are looking to buy or sell a house in Yellowknife call today for the most informed agents perspective and some great advice on how to get it done anytime of the year! 2023-12-05T13:56:17-07:002023-12-05T14:09:02-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:21043Yellowknife Real Estate In The WinterYellowknife Real Estate During The Winter
YELLOWKNIFERS, ITS COLD!
The cold weather has finally found us here in Yellowknife, and surprisingly we still have some warm weather in the forecast. As im writing this its currently -18c here in Yellowknife, with temps set to warm up for the next couple days. That being said, I plugged my truck in for the first time this winter last night. I have the big coat and mitts on. And my dog hates the fact that she is not trained to go to the bathroom indoors as she doesnt want to venture out into the snow 4-5 times a day haha.
How does the weather affect our real estate market here in Yellowknife? Its not JUST the weather, we of course are heading into the holiday season, school is in full swing and nobody wants to move in cold weather.. Expect to see less listings between now and spring. For buyers, keep in mind that listings you see at this time of year and in the new year are folks most likely NEEDING to sell. Opportunity to get a deal? Only if theres not a high amount of interest from competing buyers.
With less inventory due to folks waiting until the spring to list comes upward pressure on price. A seller who has time to wait for their price in the winter knows there is less inventory to compete with as a seller. Where as waiting until the spring can leave a seller competing on their price with price reductions if an accepted offer is not achieved in a timely manner during hot market months.
Conclusion; now is the time to be looking as a buyer on a budget. You can submit offers with less worry of competing buyers. Wait until the spring to list your home if youre looking for peak dollars and willing to work with the market conditions that spring brings with it, knowing there will be more competition in terms of inventory. 2023-11-22T14:40:23-07:002023-11-22T14:58:42-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:20957Yellowknife Market Update November 14 2023Yellowknife Real Estate Market Update November 14 2023
Hi all and thank you for checking out this Yellowknife Real Estate Market Update. This market update will be for the past 2 weeks (November 1 - November 14 2023).
Well its safe to say cooler temperatures have brought a cooler market. With the market in Yellowknife tipping towards a buyers market completely the only quick sales we are seeing is in the $350k-$500k ball park and only if priced correctly.
Over the past 14 days weve seen 5 new listings, of which only 1 currently has an accepted offer on (A $399,900 mobile home on Balsillie court). The average price of these listings is $423,740.
We saw 3 price changes over the past 2 weeks. and 5 listings were conditionally sold over the same time frame.
Over the past 2 weeks we saw 10 firm, unconditional sales take place with the average sale price being $461,635 and the average listed price of these 10 homes was $475,830 making the average sale price of sold homes over the past 14 days 97% of the listed price. 2023-11-14T11:50:00-07:002023-11-14T12:21:16-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:20695Yellowknife Real Estate Update October 20 2023Yellowknife Real Estate Market Update October 20 2023
This past week in the Yellowknife real estate market we saw what could easily be descibed as the start to a seasonally slower real estate market. Over the summer of 2023 we saw easily 10-12 sale per week, average sales prices 98-99% of listed price. This past week we saw 3 total sales. Average sale price of these three sales still on par at 99% of the listed price, but an obvious slow down in quantity of sales. As we slip closer and closer into a buyers market heres the numbers from the past week:
This past week we saw 4 new listings hit the market, 2 of which already have accepted offers. This is good to see; If your home is well priced entering the market the buyer action is still there in Yellowknife to get your home sold, at a certain price bracket. We see listings over 700k sitting for longer than average timelines as we head into fall/winter market.
This past week brought 2 price changes, 5 conditional sales and as I mentioned only 3 final sales. 2 listings were taken off the market after not selling (proudly, neither of these listings were coldwell banker listings).
As a buyer, moving in cold weather sounds pretty crappy. But being able to buy your home at price or slightly below knowing theres not going to be 2 or 3 other offers on your home of choice might entice some to keep up their search! 2023-10-20T13:10:14-07:002023-10-20T13:19:47-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:20601Yellowknife Real Estate Update October 6 2023Yellowknife Real Estate Update October 6 2023
Hello all, and thank you for checking out this weeks real este update for Yellowknife NT.
We are back and rolling post evacuation. Lucky for me I got covid shortly after getting back to town so I got to miss even more work than I had to due to the evacuation. But thats besides the point, lets get to the numbers!
This week in Yellowknife real estate we saw 7 new listings hit the market with an average list price of $542,042.86. A healthy number of new listings for one week.
A whopping 11 listings have been placed back on the market this week after having collapsed accepted offers or listings expiring and being renewed. This may signify a slow down in the market with listings drawing to the end of their contracts and needing to be renewed. 2 of the 11 listings have already gone under contract or accepted an offer, so its not all bad news.
This past week Yellowknife saw 4 price changes to existing listings, including a new price on my listing in Niven 12 Ballantyne court. We also saw 3 newly under contract homes which have accepted offers now.
This week brought only 3 new sales; Average list price of these sold homes was $464,933 and the average sale price of these 3 homes was $439,966
It seems with colder weather comes a cooler market in Yellowknife, now may be the time to find a deal youve been looking for. As we head into the winter we hope to see interest rates teeter to the lower side or at least remain stagnant. If youre looking to buy or sell in Yellowknife call today! Your Yellowknife Realtor is only a call away at 867-446-24582023-10-06T10:44:56-07:002023-10-06T10:56:02-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:20461Yellowknife Real Estate Post EvacuationYellowknife Real Estate Market After The Evacuation
<br />The Yellowknife real estate market post evacuation is still alive, just tired. The full effect of the evacuation hasnt sunk in yet and may take another week or two before it does but here is what I am seeing so far.
More buyers than sellers
Yellowknife continues to see more buyers circling the market than sellers. We have more locals and non locals alike looking for homes than are available, we continue to see a need for more inventory especially in the lower price ranges to satisfy demand for first timers, down sizers and new-to-Yellowknife buyers who cant afford a 500K + home.
No large influx of homes on the market
Yellowknifers continue to pose the question "Will there be a furry of people leaving Yellowknife". So far, not at all. My questions to those posing the above question is this; Where would they go? Ontario, Alberta, BC, Quebec were all on fire this summer. BC will soon be getting ready for another flood season. Nova Scotia just got hit by a hurricane.. Where does anyone who is running from now subdued fires going to run to?
Final point, the market has slowed. Its that time of the year. Its being exacerbated by what we just went through. But no major affect is being noticed, by anyone in the market.
2023-09-20T11:26:23-07:002023-09-20T11:37:42-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:20398Yellowknife Real Estate - Restarting after the wildfiresEveryone in Yellowknife is thinking the same thing; How will the wildfires and evacuation affect the real estate market going forward?
The answer, long and short, remains to be seen. The affect of evacuating the entire city amidst a quite acive and busy Yellowknife real estate market will take a few weeks to really be noticable and may be lasting. Some folks are side lining their home search, others are entering the market with impressions they may be able to get a deal in this tumultuous time of catching up after weeks away. Yes - some sellers may be eager after having a weeks long set back to their home sale. Yes - some new sellers may enter that market. Yes - some buyers are saying "I just lost almost a month of my normal life, I need to hold off on this home purchase for now"
How the mix and mingle of all of these post-fire aspects will taste once the dust settles remains to be seen. I for one am seeing signs of activity, I am seeing showing requests coming and going out for my buyers. Whispers of offers on the way for listings I have on the market. For now all I can do is continue to work to achieve the goals of my clients and thats what I shall do! Call today to chat with a Yellowknife realtor who puts his clients first above all else 867-446-2458.2023-09-13T12:16:06-07:002023-09-13T12:23:44-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:20236Yellowknife Wildfire Real Estate UpdateYellowknife Wildfire Real Estate Update
Hello all and thank you for checking out this weeks Yellowknife Real Estate Update Blog
This week, like last, is a different one for Yellowknife and the NWT as a whole. We continue to be on evacuation notice and are scattered accross the rest of the country eagerly watching the news, maybe trying to make the best of the situation wherever you are, I hope!
With no new sale, listings or activity this week I have little to report on the Yellowknife real estate market, but in terms of the wildfire and evacuation I would like to say I am incredibly grateful for all the hardworking men and women who are still back home doing everything possible to slow the fires, set protection lines and fire breaks, instal sprinklers and keep the community running while we are all away! Thank you all.
I sincerely hope in light of these wildfires and evacuations the government is able to come up with some meaningful supports for all the evacuees and individuals who left on a moments notice. For all my clients, friends, family and community members please dont hesitate to reach out if you have any questions about how this will affect a deal, a property or the real estate market OR if you need anyhthing at all I hope to help however possible.
867-446-2458 Nathanround.realtor@gmail.com2023-08-25T13:21:34-07:002023-08-25T13:28:51-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:20208Yellowknife WildfiresYellowknife Real Estate Blog - Wildfire Evacuation 2023
Hello Yellowknife and NWT residents! I hope this blog finds you well. I hope you are safe and comfortable with your family and pets. I hope you all have found support in one of the AMAZING communities down south that is taking such great care of us Yellowknife and NWT residents.
I am evacuated out of Yellowknife and am now outside of Red Deer with my family and our 2 dogs. This whole situation is crazy. For my many clients who have transactions on the go currently I am available throughout this time to provide advising on how to keep your deals alive and how to rearrange lawyers meetings, completion dates etc etc..
Yellowknife Buyers: If you are evacuated and you have a deal closing in the coming days expect to have the completion of your purchase pushed back. Confirm when your lawyer will be available to meet if you havent already signed documents at your lawyers office. If you have an appointment with your lawyer over the coming weeks its a good time to confirm that its cancelled and tentatively rebooked. Touch base if you have any questions, this is a fluid situation and much of when your deal will complete lies in the hands of the fire situation and when we can all return to Yellowknife.
Yellowknife Sellers: If you have a sale completing in the coming weeks plan to push that back. Touch base with your lawyer. Keep in mind the status of the home; Has it been cleaned, is there servicings needed etc. If you had appointments booked its a good time to get ahead of things and tentatively rebook. That goes for lawyers, servicings, MOVERS etc etc.
If this situation does drag out beyond this week there will be a backlog of transactions needing to complete, servicings needing to get done and everyones going to want to be at the front of the line so get ahead of the return home and try to set yourself up. Touch base if you have any questions about how to proceed, how we can push your transaction back and what can be done to ease the stress and pressure of this situation and your soon to be completed Yellowknife real estate transaction.
I hope all my Yellowknife clients are safe, comfortable and in a good place! Lets touch base if you need anything at all. 2023-08-21T18:40:46-07:002023-08-21T18:57:15-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:19192Yellowknife Real Estate Market Update July 21 2023Yellowknife Real Estate Market Update July 21 2023
Hello All, here is your weekly Yellowknife housing market update for the week of July 21 2023. This week has been busy, many showings, a few listing appointments and tons going on!
We saw 6 new listings hit the market here in Yellowknife this week, 1 of which already has an accepted offer. Average list price of new listings this week is $489,100
We saw 4 conditional sales and 11 firm sales this week. Average list price of those sold was $547,300 and the average selling price of those sold listings was $543,581. On average homes in Yellowknife are selling within $5000 of their listed price. Average days on market for these properties was 46 days, including on average 14 days for subject removals.
So on average most homes are being sold within 30 days of list and typically quite close to their listed price here in Yellowknife! 2023-07-21T12:13:05-07:002023-07-21T12:20:16-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:19136Yellowknife Real Estate Market Update July 14 2023Yellowknife Real Estate Market Update July 14 2023
Hello All and thank you for checking out this weeks real estate market update! The market this summer has been absolutely on fire. Homes that are priced well are selling very fast and typically in multiple offers. And thats in any price range, not just the lower valued homes. If your home is priced on the dot in any price range its going to sell in Yellowknife!
This past week in Yellowknife real estate we saw 8 new listings hit the market with 3 of those already receiving accepted offers in the first week on the market. This week we saw a lower than usual average list price for new listings, $359,937.
This week in Yellowknife real estate we saw 5 price reductions and 5 conditional sales.
We also saw 12 new sales go unconditonal! The average listed price of these now sold homes was $526,433 and the average sold price for those same homes is $518,450! This means on average homes are selling for over 98% of their listed price! We continue to see very little room for neogotiation or 'deal making' in this very tight market. 2023-07-14T12:41:26-07:002023-07-14T12:48:50-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:18508Yellowknife Real Estate Market Update June 23 2023Yellowknife Real Estate Market Update for the Week of June 23 2023
Hello all and thank you for checking out this weeks market update. Yellowknife truly is a special place in the summer, the real estate market is no exception. Especially busy and so much happening!
This past week in Yellowknife real estate we saw 9 new listings, 1 of which has an accepted offer already. Average listed price of these new listings is $627,055. This number is elevated more than normal as we saw 29 Otto drive hit the market bringing up the average.
This week we saw 3 price reductions and 3 properties come back into the market.
We also saw 4 conditional sales and 12 new firm sales take place.Of those firm, or unconditional sales, the average listed price of these homes was $443,500 and the average sale price $430,600. This makes this past weeks average sales price 97% of the listed price. A wider margin than we had been seeing for most of the spring/summer so far! Maybe a deal is to be had out there. 2023-06-23T13:36:46-07:002023-06-23T13:53:05-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:18418Why exclusive listings are not to the benefit of the sellerExclusive listings are a thing of the past, here is why they are not to the benefit of the seller and why as a seller you should'nt consider them.
First off, what is an exclusive listing? An exclusive listing is a listing where only the listing agent has exclusive right to advertise and sell that listing. There is no language in the contract that provides for a buyers agent to operate or earn a commission with the listing and theres no provision to have the listing marketed on the MLS (Multiple listing service) which is a realtors number 1 tool for advertising and attracting buyers.
A standard listing contract allows your listing agent to advertise on multiple portals, cooperate with a buyers agent and even split the commission with a buyers agent operating on behalf of the buyer party in the transaction. Why should you, the seller, care? Well if your listing agent doesnt have the provision or intention to advertise your property in the places MOST buyers are looking for real estate then how are they effectively marketing and 'selling' your property? If your listing agent has no intention of cooperating and splitting commission with a buyers agent how does that provide buyers working with an agent an avenue to purchase your property?
Really, exclusive listings are effective at ensuring two things: The listing agent will get both ends of the sale commission and the listing agent will operate as both the seller and buyers agent. This means that not only will it most likely take longer to achieve the sale of the property, but you as the seller will only get half the representation in the negotiation and overall transaction you expected. When an agent works on behalf of both the buyer and the seller, in my opinion, both clients lose. Buyers and sellers both deserve seperate representation. You wouldnt feel comfortable in court knowing your lawyer represents both you and the individuals across the aisle, why would you feel comfortable knowing your realtor is operating in such a manner? In many jurisdictions in Canada dual agency in real estate is outlawed, illegal. Which has pretty much rendered the exlcusive listing ineffective.
Ensure your listing agent represents you and your best intentions in the sale of your property!2023-06-14T11:23:12-07:002023-06-14T12:08:45-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:18390Yellowknife Real Estate Market Update June 9 2023Yellowknife Real Estate Market Update June 9 2023
Hello all! This will be abit of a unique market update spanning the last two weeks of Yellowknife Real Estate activity. Why? Because I just had my first child born this past Thursday June 1, so I missed last weeks! Understandable? I hope so. I do try my best to keep up with the activity of the market but sometimes life happens and Im sure you all know about that.
That being said lets get into it! This past 14 days in Yellowknife real estate we saw 24 new listings hit the market with an average listed price of $537,683. Of those 26 new listings 5 already have accepted offers on them!
We saw 5 properties come back on the market an 7 price changes over the last couple weeks.
We also saw 18 conditonal sales and 15 firm sales take place over the last 14 days here in Yellowknife! In regards to sold proeperties over the last 14 days the average listed price of these homes was $558,186 and the average sold price of those same listings is $549,933 making the sold properties over the past two weeks average sale price 98% of the listed price! Deals may be out there but not in high frequencies!
Thanks for tuning into this weeks market update, have a fantastic weekend! 2023-06-09T13:21:37-07:002023-06-09T13:30:28-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:18164Yellowknife Real Estate Market Update May 26 2023Yellowknife Real Estate Market Update May 26 2023
Hello all! Here is this week's real estate market update for the week of May 26, 2023.
New listings: This week, Yellowknife saw 12 new listings hit the market with an average listed price of $574,416.
This past week, we saw 4 deals collapse, leaving those 4 properties to come back on the market. We saw 4 price reductions take place this past week on currently listed properties.
This past week, we saw 7 conditional sales and 9 firm sales. The average listed price of sold homes this week was $471,000, and the average sold price of those listings was $463,666.67, so properties remain on average selling at approximately 98% of the listed price.
I myself have an exciting listing at Summit Condos on 44th Street coming to the market in early June, so touch base if that may be of interest to you! Everybody, enjoy the weekend ahead.2023-05-26T15:15:11-07:002023-05-26T18:05:09-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:18097Yellowknife Real Estate market update May 19/23Yellowknife Real Estate Market Update May 19 2023
<br />Hello all and happy long weekend ahead! I hope you all have something fun planned for this long weekend.
Straight into it here; the market is alive and well. We are seeing a lot of new listings and sales taking place. This past week we saw 10 new listings hit the market here in Yellowknife, 1 already has an accepted offer on it. Average list price of these new listings was just above the 500k mark at $504,650.
We saw 4 price reductions this past week on properties currently listed.
This past week we saw 9 conditional sales, as we know a conditional sale is when a property accepts an offer on the property which contains subject conditions on either the buyer or sellers behalf needing to be completed prior to the sale being binding.
We saw 8 firm, final sales take place this past week. The average list price of these 8 sales was $453,062 and the average sale price is HIGHER at $453,500! This means the markets hot, we are seeing multiple over/over ask sales! When the average sale price is 100% of the listed price you know the market is moving. And for those buyers out there who think the prices are waaaaaaay too high and expect to buy a home for 15k, 25k, 50k under ask.... best of luck! Deals are out there but they are harder to find in these market conditions, especially when you arent working with a realtor!!2023-05-19T14:52:04-07:002023-05-19T15:05:10-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:18048Yellowknife Real Estate Market Update May 12 2023Yellowknife Real Estate Market Update May 12 2023
Hello all and thank you for checking out this weeks real estate market update! Below are the numbers for this week. Looking forward, I hope everyone has a fantastic mothers day weekend and dont forget to come see me at the Yellowknife Chamber of Commerce trade how at the multiplex this saturday and sunday!
So, with that, this past week in Yellowknife real estate we saw:
14 New listings hit the market, average list price being $493,292.
We saw 2 listings come back on the market be that because their deals collapsed or they were re-listed after being taken down.
We saw 7 price reductions this week, notaby only 1 of those price reductions came from Coldwell Banker. Here at Coldwell Banker we have very in-depth information files on most Yellowknife properties and these in-depth files dating decades back help us to ascertain all sorts of information about the homes we list and quite often we have agents from other brokerages reaching out to us for information on their listings... Safe to say Coldwell has been running a tight ship these past few weeks as the market fires up!
This past week we saw 11 conditional sales and 9 firm sales! Average sale price on the firm sales this week is $498,877 and the average listed price of those same 9 properties was $505,233! That means last weeks sale happened at 98.7% of the listed price, on average! What does that mean for you, a buyer? Low balling in this market wont get you anywhere! Unfortunately. You all know I love to get a deal for my clients, so touch base and lets see what we can do for you! Everyone have a great weekend ahead and come by the trade show saturday and sunday!
2023-05-12T14:08:57-07:002023-05-12T14:19:38-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:18027Great summer spots to hangout in Yellowknife NTYellowknife in the summer is unbeatable! Here are a few summer hangouts and things to do you maybe havent thought of:
Cameron River and Cameron River Crossing park:
Most Yellowknifers know about Cameron Falls, I could write a whole blog about that and the hike to it! What a spectacular family friendly place to go. But some residents dont know about the Cameron River Crossing Park and the nearby camping spots (that are free, but first come first serve). Many summer days in my youth were spent in this particular area of the Ingraham Trail as it is beautiful, quiet and for the most part well kept. Some unruly campers aside. This is the perfect area for a day trip, an overnight trip or even just a quick drive to dip your toes in the river.
Reid lake:
For the more organized and willing to pay camper this camp site is perfect. The family friendly campsite features a boat launch and a nice beach, a park and a large area for kids to bike play and enjoy the summer while the adults have a pop and a hotdog. A great place to camp and enjoy the northern summers.
The Yellowknife Golf Club:
When I think of Yellowknife one of the first things to mind certianly isnt golf.. BUT! This quaint little golf club has much too offer. No not grass or at least much of it, this golf course does have a great driving range, a restaurant/bar and a lot of sand! The fairways at the Yellowknife Golf Clubs are sand, not your usual golf fairway I know, but still a great time. Walk to get some steps in during your round, or do as I do and grab a cart, stuff some pops in your bag and swing that stick!
Hope you are all enjoying this great weather we are having!2023-05-10T14:36:32-07:002023-05-10T14:51:04-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:17982Yellowknife real estate market update May 5 2023Hello all and Happy Cinco de Mayo!
I for one couldnt be happier; gorgeous weather, tacos & margaritas and a hot real estate market make for a great Cinco de Mayo. That being said, before I head to the NWT brewing company for their tastey tacos and drinks lets get you what you came for, this weeks Yellowknife real estate market update!
This past week in Yellowknife real estate we saw 10 new listing hit the market. Average list price for these 10 properties is $520,410.
This is seemingly right on par for where we are in Yellowknife in terms of market value. Over the last 30 days we saw 25 sales, average list price for these sale was $552,900 and the average sale price was $552,300. Meaning, MOST homes are selling at 99.9% of the listed value, some of those 25 sales went above and beyond the listed price with multiple offers.
Over the last week we saw 7 price reductions, 6 conditional sales and 6 firm sales! Of those 6 firm sales the average listed price was $590,600 and the average sale price was $586,515. Again, 99% of listed price. These numbers are great but what does that mean?? If your trying to low ball, or even offering 5% or 10% below asking price You Probably Wont Get The Accepted Offer. Of those 6 sales we saw go through this past week 2 (30%) were sold over the listed price. When 30% of the homes selling in a week are going above the listed price that means you better come ready, with pre approval in place and due dilligence done if you want to successfully win your bid to buy the home you have your eye set on.
Obviously as your realtor my focus is to protect you while getting you the best value possible for the home. I never recommend to forego conditions or through caution to the wind and write an offer with a stupid high offer price... thats not my goal. I will always work with you to get you the accepted offer with a reasonable price and necessary conditions. I look out for you, and you look forward to moving into you new home :)2023-05-05T11:14:05-07:002023-05-05T11:25:18-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:17976Planning on selling? Here's some touch ups that may add value to your Yellowknife Home for sale If you're planning on selling your home in Yellowknife, it's important to ensure that it's in the best possible condition to attract potential buyers and secure a higher price. While major home renovations can be expensive, there are several cost-effective renovations that can add value to your home and make it more appealing to buyers. Here are some of the best renovations to consider before listing your home for sale:
Paint: One of the most cost-effective ways to update your home is to give it a fresh coat of paint. A neutral color palette will appeal to a wider range of buyers and make your home feel more modern and updated.
Update fixtures and hardware: Replacing outdated light fixtures, faucets, and cabinet hardware can give your home a quick and easy update that will make it feel more modern and well-maintained.
Improve curb appeal: First impressions are important, and a well-maintained exterior can go a long way in attracting potential buyers. Consider adding some fresh landscaping, painting the front door, and power washing the exterior to give your home some instant curb appeal.
Kitchen updates: The kitchen is often the heart of the home and can be a major selling point for potential buyers. While a full kitchen renovation can be expensive, simple updates like painting cabinets, replacing hardware, and updating appliances can make a big impact without breaking the bank.
Bathroom updates: Similar to the kitchen, updating bathrooms can be a great way to add value to your home. Consider updating fixtures, replacing old tile or flooring, and adding new lighting to create a fresh and modern feel.
While not necessarily the most econmical option, something that will absolutely catch the attention of northern buyers are home upgrades that extend the life or efficiency of the home: new furnace, new hot water tank, new roof, new windows, new exterior doors all done with efficiency in mind of course. These big ticket items may be more expensive but they announce to the buyers in the market that you cared for your home and did what you could to keep the properties expenses low and the home more efficient.
By focusing on these cost-effective renovations, you can improve the value and appeal of your Yellowknife home without breaking the bank. By doing so, you'll increase your chances of attracting potential buyers and securing a higher sale price for your home in the Yellowknife real estate market.2023-05-04T14:05:09-07:002023-05-04T14:13:36-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:17866Yellowknife Real Estate Market Update April 24 2023Yellowknife Market Update:
<br />Hello all and thank you for checking out this weeks real estate market update. Its super important to know what's going on in the market you plan to buy/sell in. So, I am happy to provide this update to you. <br /><br />
This past week in Yellowknife real estate we saw 10 new listings hit the market, 1 of which went in mutiple offers this morning with more than 3 offers received on it. Average listed price of these properties was $606,575.
This week we saw 7 price changes on already listed homes, showcasing the importance of properly pricing your home. The market is moving at a steady pace and If youre doing price reductions you were obviously listed too high!
We saw 6 conditional sales and 5 firm sales take place this week. Average sold price of the 5 firm sales was $503,480 and the average list price of these homes was slightly lower. This means properties are in fact selling above listed price, for example: 230 niven sold for $16,500 over ask and 512 Hall sold $7000 over asking price! Be prepared to put your best foot forward in terms of price when getting into a multiple offer situation!
Thats our update for this week, feel free to call Nathan Round @ 867-446-2458 for more information on what is happening in the market or for a free home evaluation if you plan to sell this year!2023-04-24T14:20:58-07:002023-04-24T14:35:23-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:17829Why selling your home alone might not be the right choice Why selling your home alone might not be the right choice!
If you're planning to sell your home, you may be considering listing it on your own to save some money on real estate commissions. However, going the "for sale by owner" (FSBO) route could end up costing you more in the long run. Here are three reasons why selling a home without a realtor is not a good idea.
Firstly, FSBOs typically miss out on more money than they save. According to a study by the NAR, the median sale price of FSBO homes was $217,900 in 2020, compared to $295,000 for homes sold with the help of a real estate agent. That's a difference of $77,100! Real estate agents are experts in pricing homes correctly and know how to negotiate with buyers to get the best possible value for their clients. Typically here in Yellowknife real estate commissions fall between 3-5% of the sale price, when you consider leaving 5%, 10% or ever 25% of the potential sale value, as the study mentioned suggests, on the table maybe signing on to have someone market and negotiate on your behalf doesnt sound so bad after all.
Secondly, selling real estate is a full-time job. There are many tasks involved in selling a home, including marketing, open houses, negotiating offers, guiding disclosure and handling legal documents. Unless you have the time and expertise to handle all of these tasks, you may find yourself overwhelmed and stressed. By hiring a realtor, you can take advantage of their expertise and free up your time to focus on other things.
Lastly, realtors are skilled in avoiding legal issues and hurdles that may come up after the sale. Real estate transactions involve a lot of legal paperwork, and it's easy to miss a crucial detail that could end up costing you later on. Realtors are trained to identify and address potential legal issues, such as liens or easements, before they become problems. They also know how to navigate the complex legal requirements of selling a home, such as disclosure laws and zoning regulations.
In conclusion, while it may seem like a good idea to sell your home on your own, doing so could end up costing you more in the long run. By hiring a real estate agent, you can take advantage of their expertise and experience to sell your home quickly and for the best possible price, while avoiding legal issues and saving yourself time and stress.2023-04-19T12:57:06-07:002023-04-19T13:03:51-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:17807Yellowknife Market Update Yellowknife Real Estate Market Update April 17 2023
Hello all and thank you for reading this past weeks real estate market update for Yellowknife and region! We of course are happy to provide this info to all of our readers here in the north and if you have any questions you can feel free to contact me directly at 867-446-2458!
This past week in Yellowknife Real Estate we saw 16 new listings of which 4 already have accepted offers on them! This spells out a healthy but very active market when you have a decent number of new listings and approximately 1 quarter of them are conditionally sold within the first week, the market is moving!
This past week we had 4 price changes on Yellowknife home already listed on the market.
This past week we saw 8 conditional sales and 3 final sales with an average sold price of $579,600.
In other news notably the Bank Of Canada has held its rate at 4.5% with hopefully no sign of further raises in the near term. I hope this means rates will be held or reduced over the coming months assisting more buyers to get into the market! Call for more info 867-446-2458.2023-04-17T11:35:53-07:002023-04-17T11:50:28-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:17769Buyers Agency, what is it? Why do it? Buyers agency; what is it? Why do it, why is it important?
To start off what is agency? Agency is the duty owed to you, a client/customer, in a real estate transaction. Agency is owed to you from your Agent. Seems obvious right. So what is buyers agency?
In any real estate transaction you have sellers and buyers, the sellers are most likely represented already and that is most likely how you ended up at their home be it for a viewing or an open house, unless your dealing with a 'for sale by owner' you're most likely looking at a property that is listed by an agent. And this agent, if he has listed this home for sale is the sellers agent. So, unless you've gone out of your way to find yourself an agent you're most likely talking to is the sellers agent. The sellers agent can write offers and work on behalf of buyers for their listings in Yellowknife, even though in most jurisdictions this isnt allow in the Northwest Territories 'dual agency' is allowed. But, working with a seller agent to buy your home is not to your advantage and quite frankly will leave you not having gotten the best deal possible!
So what is a buyers agent? A buyers agent is an agent who represents you and ONLY you in your home search. A buyers agent like other agents has access to all properties and information on all properties listed for sale and a good once can even track down properties that arent currently listed for sale but maybe would be interested in selling to the right buyer. What is the benefit of working with a buyers agent and not a sellers or listing agent? Your buyer agent will get to know you, your needs and what you are looking for in a home, your agent will get to know your budget both in your purchase and in future planned renovations. Working with a buyer agent ensures that you, the buyer, have someone looking out for you and your best interest, you will have an agent that has no conflicts and discloses information to you and only you, not the sellers. You will have an agent who will keep your information confidential including your budget and any other information that may help the sellers get an edge on you in the negotiation. And of course a buyers agent is working to get you the best possible deal with the most favourable terms and conditions that are to your benefit only! A sellers agent isnt going to properly advise or might not even attempt to negotiate the price down, or advise you the buyer on what conditions are best to include in your offer.
If you are looking to buy a home in Yellowknife work with a buyers agent! To learn more on how working with a buyers agent dedicated to getting you the best value possible call Nathan Round 867-446-24582023-04-12T15:07:51-07:002023-04-12T15:20:11-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:17751Yellowknife Real Estate Market Update April 11 2023Yellowknife Real Estate Market Update April 11 2023
Hello All, here is your market update for the past 10 or so days. We try to get this out every friday but being that this passed friday was good friday, who would've read it anyways! We hope you enjoyed your long weekend, ate lots of chocolate and maybe a bit of turkey too!
This past week and a bit in Yellowknife Real Estate we had 18 new listings come into the market! Average listed price being $574,500 but we had two listngs over 1 million dollars and one just shy of that at $935,000. We are starting to see more listings under the 450k mark which seems to be where a lot of first time buyers or younger buyers are searching within.
6 listings came back into the market after either having collapsed sale or their listing having expired. We had 2 listings do price reductions, both of which are commercial listings in Yellowknife.
We saw 7 conditional sales and 6 firm sales take place or the last week and a bit.
What does this mean for you? Well if your a buyer you'd better be looking because now is the time we are starting to see inventory pumped into the market. With warm weather the smart buyers are starting to get their offers in so they can move over the summer. For sellers this means competition in the listing side of things. We currently see 40 residential properties active on the market in Yellowknife alone but with buyer activity picking up this will spell out a healthy market for the time being. Of the currently 40 active listings in Yellowknife we have 6 over 1 million dollars, the average listed price works out to be $646,500. We have 4 brand new to market listings under 500k so reach out today to get your search started! Call today for any questions or advice on how to secure that home thats caught your eye 867-446-24582023-04-11T13:14:14-07:002023-04-11T13:26:51-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:17685Why buy in Yellowknife?Yellowknife Real Estate: Discovering Canada's North
When most people think of Canada's real estate market, cities like Vancouver, Toronto, and Montreal come to mind. But there is a one unique city, unlike any other, in Canada's north that offers a special blend of urban convenience, natural beauty, and tight-knit community: Yellowknife. If you're looking for a real estate market that offers something truly different, Yellowknife may just be the perfect place for you.
Yellowknife is the capital of the Northwest Territories, located on the north shore of Great Slave Lake. It is a city that has long been a hub of activity in Canada's north, thanks to its history as a mining town and its current role as a center for government, tourism, and the arts. But what makes Yellowknife truly special is its unique blend of natural beauty and urban convenience.
Despite being a small city of just over 20,000 residents, Yellowknife offers an impressive range of amenities, including shopping centers, restaurants, bars, and cultural attractions like the Northern Arts and Cultural Centre. But what really sets Yellowknife apart from other Canadian cities is its access to the great outdoors. The city is surrounded by stunning wilderness, with opportunities for fishing, hiking, camping, and boating just a short drive away. Yellowknife is also known for having one of, if not the, highest average household income in Canada.
When it comes to real estate, Yellowknife offers a range of housing options to suit different budgets and lifestyles. The city's historic Old Town is home to some of the most charming and unique homes in the area, with many properties dating back to the gold rush era. Meanwhile, newer developments in neighborhoods like Niven and Grace Lake offer modern homes with all the latest amenities. And with a strong rental market, investing in a rental property in Yellowknife can be a smart financial move.
Of course, there are some unique factors to consider when buying or selling real estate in Yellowknife. For example, the city's harsh winters and remote location can make maintenance and logistics more challenging. However, with the right preparation and a knowledgeable real estate agent on your side, these challenges can be overcome.
Overall, Yellowknife's real estate market is one that offers a unique blend of urban convenience, natural beauty, and a tight-knit community. Whether you're looking to invest in a rental property, buy your dream home, or sell your current property, Yellowknife is a market worth exploring. So why not discover what Canada's north has to offer? Call today to start your home buying journey 867-446-24582023-04-06T12:40:10-07:002023-04-06T12:44:38-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:17664Niven: The Gem of Yellowknife's Real Estate MarketNiven: The Gem of Yellowknife's Real Estate Market
Yellowknife, the capital of the Northwest Territories, is a city that has captured the hearts of many, thanks to its natural beauty, friendly community, and diverse culture. Among its neighborhoods, Niven stands out as a true gem, offering a unique blend of urban convenience and natural serenity that makes it one of the most desirable areas to live in Yellowknife.
Niven is located on the west side of Yellowknife Bay, just a stone's throw from the downtown core. It is a predominantly residential neighborhood, characterized by spacious lots, and stunning views of the surrounding landscape. With a population of around 1,500, it is a close-knit community where neighbors know each other by name and take pride in maintaining their homes and gardens.
For potential real estate buyers, Niven offers an impressive range of housing options, from cozy bungalows to spacious family homes, as well as a few multi-family developments. The homes here are generally well-maintained and feature a range of styles, from traditional log cabins to modern architectural designs. What sets Niven apart from other Yellowknife neighborhoods, however, is its access to green space. With the iconic Niven Lake Trail winding through the heart of the neighborhood, residents can enjoy scenic walks, runs, and bike rides right from their doorstep. Niven is also home to stunning views of Yellowknife Bay.
For real estate sellers, Niven presents an excellent opportunity to showcase the unique features and advantages of their property. The neighborhood's location and natural beauty are a major selling point, as is its reputation as one of the safest and most family-friendly areas in Yellowknife.
Overall, Niven is a neighborhood that has a lot to offer both real estate buyers and sellers. Its location, community spirit, and natural beauty make it a standout area in Yellowknife's real estate market, while its diverse range of housing options means that there is something for everyone here. Whether you're looking to buy or sell a home in Yellowknife, Niven is definitely a neighborhood to keep on your radar and Nathan as a previous long standing resident of Niven is your go to guy to buy or sell Niven real estate! Call today for more info Nathan Round 867-446-24582023-04-05T11:20:51-07:002023-04-05T11:29:33-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:17629Yellowknife Real Estate Market Update April 3rd 2023Yellowknife Real Estate Market update for this past week.
Numbers starting to get higher as we swiftly make our way into the spring and summer selling season. This past week we saw 13 new listings come into the market, all but 1 located in the Yellowknife region. The one outlier located in Fort Smith.
We saw 2 listings come back into the Yellowknife market after having accepted offer collapse.
We had a total of 6 price reductions, all of which in Yellowknife. Which to me does not signal anything significant in the market, most likely these price reductions come after having initially priced too high in the first place.
Finally we had 4 conditional sales and 4 final sales. To understand the difference between a conditional sale and a "firm" or "final" sale check out our other blog entries.
This past week also brings us to the end of the 1st quarter of 2023. In the first quarter of 2023 we saw a total of 36 sales, down 14% from this time last year. Most likely due to the downward pressure on pricing and elevated interest rates. Our average sale price in Yellowknife Jan 1st - April 1st was $482,971, up 7% from this time last year (a healthy number). We saw 62 new listings in that time frame which on average sat on the market for 52 days before being sold firm.
Thats your weekly and quarterly real estate market update from Nathan Round. If you have any questions or would like to get the jump on you home sale/purchase call today at 867-446-2458!2023-04-03T13:24:45-07:002023-04-03T13:33:27-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:17585How to buy a Yellowknife home when you already own a homeHow do you safely go about buying a home in Yellowknife when you already own a home? Should you list before writing an offer? How can you avoid carrying the costs of two properties at once?
Buying a home in Yellowknife when you already own another property can seem daunting, stressful and confusing. But, I am here to help you down the right path of upsizing or downsizing, or maybe even trading in for that dream home you've had your eye on!
How do you, a property owner, go about buying a home in Yellowknife if you already own a home? With the right protections in place, of course! As your realtor I use specific contract terms to protect my clients when purchasing another home while still living in their current home. Unless youre looking to rent out your current home you probably arent looking to carry the cost of both properties. So hows it done?
Example A: You are buying a home and your home is not currently on the market. You've found the right home and want to submit an offer on it and have a home to sell. In this scenario we would write into your offer on your new home a condition to the sale stating: The sale of your new home is conditional upon your current home selling unconditionally prior to your being obligated to go through with the purchase of your new home. By doing this we "tie" together both transactions and your purchase of the new home can not take place without your current home unconditionally selling on or before a certain date. As well, we go a step further and once you have your accepted offer on your soon to be new home, any incoming offers on your current home we would include a condition stating: The sale of this property is conditional upon (you) the sellers unconditionally purchasing your new/next home!
Confused? Think of it this way, in both contracts to purchase both properties, your current home and your soon to be new home, we put a link to the other property and neither transaction can take place without the other transaction taking place. In this situation, you cant buy without selling and cant sell without buying. Leaving you fully protected to comfortably buy your new home having sold your previous home. There are some other steps involved, of course you'll have to line up the dates of both transaction so that the funds from your sale have come through to you before the funds for your purchase are due, but thats my job to handle that.
Example B: Your home is listed on the market, you know you want to move and you have found the right home to move into! This situation would be handled much the same way. In any offer accepted on your home we would write into it a clause stating the transaction is conditional upon your unconditional purchase of your next home. And on the home you are purchasing, again you would write in a condition stating the purchase is conditional upon the sale of your current home. Starting to get it now? Good!
With the proper conditions and wording in a contract to purchase/sell you can fully protect yourself against carrying two mortgages at any one time.
Should you list your home before shopping for your next home? You dont necessarily need to but I recommend having the process started. Having subject to sale/subject to purchase conditions in an offer can seem less appealing, to a seller especially, so its good to have the process started at the very least. When you have an accepted offer to purchase that is subject to your unconditional sale of your current home this is usually accompanied by a timeline which requires you to have your home sold in a certain period of time. So being able to work quick through out either situation is important!
For more information on this you can call Nathan at 867-446-2458 and he will happily answer your questions! And continue to check out our blog on Yellowknife real estate for more insightful information on buying/selling Yellowknife homes, how to protect yourself in a transaction and how to get the best value possible! 2023-03-29T11:51:32-07:002023-03-29T12:13:52-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:17535Yellowknife Real Estate Market Update March 24 2023Yellowknfe Real Estate Market Update March 24 2023
Hello all and thank you for checking out todays market update for the Yellowknife Real Estate market over the last week!
Over the last 7 days, and I am starting to get repetitive saying this, the market has started showing a lot more signs of life and activity. More showings, more comparative market anlysis for seller clients and showings happening for buyer clients. The spring market is here and ramping up!
So that being said over the last week in Yellowknife Real Estate we saw:
4 new listings, one of which is a stomper of a home located in Old town, check it out here! https://nwt.xposureapp.com/listing/Yellowknife-NT/A-43-Otto-Drive/2902m?u=690198
We saw 3 properties come back on the market be it after their listings expired or deals fell through.
We had 4 price changes on already listed properties, 4 conditional sales and 5 unconditional sales including my clients purchase of 28 gold city court!
What is the difference between a condition and unconditional sale? Conditons, of course! Conditions in an offer to purchase real estate are usually referred to as "subjects" or "subject conditions" and they are written into an offer to purchase real estate for the benefit of either the buyer or seller, usually the buyer. Buyer conditions may include: Financing, insurance, a home inspection etc etc. These conditions must be satisfied on or before a certain date in order for the offer to purchase to go forward. Once all subject conditions have been satisfied the deal would then be considered unconditional. If all conditions are not satisfied on time, the deal is considered expired or "collapsed".
Sellers sometimes have subject conditions too. A seller subject condition may include having legal advice on the offer, or subject to the seller purchasing their new/next home in order to not have the seller be homeless between transactions. Subject conditions are always for either the benefit of the buyer or the seller.
Ensure your realtor talks to you about the proper conditions to have included in your offer for your own protection, that is after all what the conditions are in there for is your protection! 2023-03-24T14:32:23-07:002023-03-24T14:48:44-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:17495Things your Yellowknife Realtor Shouldnt be doing
Things your Yellowknife Realtor SHOULDNT be doing! Check it out below:
1. Not asking questions: Your realtor should be prioritizing you, your goals and your needs. How can they do that without that info?
2. Unable to answer questions: Your realtor should be prepared, knowledgeable about the market, area and homes in question.
3. <a tabindex="-1"></a>Being PUSHY! A pushy realtor may be a desperate realtor, may be a realtor looking out for themselves and their own goals. Maybe pushing you to their own listings or to homes with higher price tags.
4. Doesnt understand construction practices: A realtor without knowledge of construction practices is like a car salesmen without knowledge of how a car works. Northern realtors especially need to understand equipment, home building and energy efficiency.
Step up your home buying/selling experience and work with an agent who is well rounded, experienced and knowledgeable! You want an agent who prioritizes you, knows you or will get to know you and someone who wants to help, not just make a sale!
2023-03-21T13:38:59-07:002023-03-21T13:40:06-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:17494Yellowknife Real Estate market update Hello All! So we strive to give you the weekly Yellowknife real estate market update weekly on Fridays, but this weekend was a travel weekend for my self so its coming to you Tuesday March 21 2023 and we will be back on track this week!
So! Over the last 10 days we saw in the Yellowknife home market:
8 new listings! Average cost for new listings this past 10 days is $606,237. This average is a bit higher than normal as we had one monster $1,295,000 listing hit the market. Its a fantastic home down off school draw: https://nwt.xposureapp.com/listing/Yellowknife-NT/5524-44-Street/28vb0?u=690198
We had 3 properties come back on the market either after expiring or having their deal fall through.
2 price changes to already listed homes. Sellers market is still in effect here in Yellowknife so you may not see a ton of dropping prices on listed home in the near term.
We had 8 conditional sales and 6 firm sales! Currently we have 42 listed properties in the NWT and 25 listed in Yellowknife. Call today to find out the value of your home in the Yellowknife real estate market. We do free home evaluations and look forward to connecting with you!
2023-03-21T12:56:34-07:002023-03-21T13:20:10-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:17392Yellowknife real estate market update Yellowknife real estate market update for the week of March 10 2023:
Hello all, this is your update for the Yellowknife real estate market this week.
This week Yellowknife saw 4 new home listings introduced into the market. One of which listed by myself at 305 Bellanca a beautiful fully renovated 3 bedroom home.
We saw 3 Yellowknife homes for sale come back into the market either because the deals collapsed or their previous listing term was renewed.
Yellowknife had 1 price reduction, this price reduction comes on the listing of 209 Niven drive. A nice Niven drive home but a welcome price reduction as in my opinion it was over priced to start with.
For sales, Yellowknife had 6 properties receive conditional offers and 2 finalized sales with conditions removed. The market is certainly starting to wake up from its winter slumber so reah out today to get your home evaluation for free or to start the hunt for your Yellowknife home!2023-03-10T14:19:55-07:002023-03-10T14:27:18-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:17390How do you book a viewing of a Yellowknife home for sale?Looking to view a home for sale in Yellowknife? How do you, a buyer, go about viewing the home that has caught your eye?
Easy, call me! Haha just joking. Viewing a home should be made relatively easy for you the consumer here in Yellowknife. As a realtor we have access to all available homes for sale in Yellowknife as well as information that no one else has about these homes. In fact, here at Coldwell Banker we have been established for so long that we have such detailed records on so many Yellowknife homes that other brokerages and other listing agents call US for information about the homes they are selling... So, to make it simple and easy you can call your Yellowknife realtor of choice and ask them to book you a viewing of the Yellowknife home that has caught your eye. As a realtor we have access to all properties on the market and if the home of your choosing isnt on the market, I will get you access. I often reach out to property owners to see if they would be interested in selling to my clients. I am well versed in getting potential buyers the home of their choice!2023-03-10T11:07:05-07:002023-03-10T11:12:39-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:17354Yellowknife Home Sales TipsYellowknife Home Sellers Tips
If you plan to list your home this year here are some helpful tips and tricks for you!
1. If youre going to renovate, renovate. Do the whole space: Re do the entire bathroom, not just the vanity or flooring. Doing no reno job is probably better than doing a bit of a reno job, unless somthing seriously needs replacing or is damaged. Brand new flooring in an otherwise outdated space can sometimes make things look awkward, or worse. Its a cost that could most likely be avoided all together as your buyers will most likely re-do any minor touch ups or personal touches youve done anyways.
2. Clean and tidy. Clean the home, tidy up, de clutter! Have a professional come by and do a deep clean before photos and showings if needed. The cost of pro cleaning will be returned to you in the value of the sale every time and if you dont, you may push buyers away. De-clutter: Do some pre-packing or get rid of uneeded junk. Clear off your fridge, your counters and surfaces especially for photos.
3. Sweep and shovel out door areas: This can be huge all year round. Sweep dusty walk ways, spray down dirty deck and patios, clean glass patio doors and shovel decks and walk ways in the winter. Easy, clean access to all areas of the home is very important for photos and showings.
For more info and advice on selling your Yellowknife home call today
Nathan Round 867-446-24582023-03-07T09:16:56-07:002023-03-07T10:17:43-07:00Nathan Roundtag:yellowknife-realestate.com,2012-09-20:17326Things to do in YellowknifeYellowknife may seem like a quiet little "Town" to most, but this City really has a ton to offer:
Snowking Castle: The snowking castle is now open for the season on Great Slave Lake. This unique feauture is an annual event thats fun for everyone. To access this event you have to drive on the Great slave lake Ice Road, which in itself is a unique experience. Who can say they spent the day or had drinks in an actual Ice Castle, let alone drove on an Ice Road to get there? Many can not.
Monkey Tree Golf Simulator: Yellowknife and the sport of golf have a unique relationship. We have one golf course here in Yellowknife and its most special feature, more special than the ravens that will pluck your ball out of the fairway, is the fact that the fairways are... SAND! How do you play golf on sand fairways you ask, a mat. You hit off a mat. Definitely a bit different. But back to the simulator. The Monkey Tree pub now has a golf simulator so Yellowknife Golfers can enjoy the sport and keep their swings in check all year long.
NWT brewing company: The Brew Pub, as most Yellowknife residents refer to it is a great spot for drinks and great food. Their home grown beers and tastey menu will have anyone (who enjoys food and beer) coming back time and time again. This establishment is home to both my favourite beer and burger in Yellowknife and has something on the menu for all to enjoy. If you're not a drinker ask them to prep you a mock-tail!2023-03-03T13:59:09-07:002023-03-03T14:08:53-07:00Nathan Round