Yellowknife Real Estate Market Update April 11 2023

Yellowknife 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 867-446-2458

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