Yellowknife Real Estate Market Update June 2024

Yellowknife Real Estate Market Update June 19 2024

The Yellowknife real estate market is moving and busy! With higher than previous year interest rates the beginning of 2024 looked like an average years start in the Yellowknife real estate market; a bit of a slow start coming out of winter, an incredibly busy April and then May. Slow, seemingly many sellers/buyers awaiting signs of life before entering the market. And then relief came in the form of an interest rate reduction at the Bank of Canada. Confirmation inflation has setlled and borrowing rates are going to begin easing. So now we find ourselves in June, almost halfway through 2024 and the market is right where you would expect for summer in Yellowknife. 

Things are busy, especially between the $300,000-600,000 price range. Over the past 14 days Yellowknife saw 20 new listings enter the market. 9 of those 20 listings already have accepted offers and 8 of those conditional sales fall between 300k-600k. Average price for new listings over the past 2 weeks is $483,705.

18 conditional sales took place in Yellowknife over the past 2 weeks and 20 unconditional sales in the same time period. The average list price of sold homes being $480,380 & the average sale price of those same homes is $471,730 which means average sale price over the past 2 weeks is 98.2% of the listed price. 2 of the sales taking place over the past 2 weeks were over the listed price. 

If you are looking to buy or sell a home in Yellowknife call today for an information first approach to your real estate goals! 

Nathan Round, 867-446-2458

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