Yellowknife Real Estate Market Update April 24 2023

Yellowknife Market Update:

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. 

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!