Yellowknife Real Estate Market Update Feb. 5 2024

Yellowknife 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. 

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