Yellowknife Real Estate In The Winter
Yellowknife 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.