Yellowknife Real Estate Market Update May 12 2023

Yellowknife Real Estate Market Update May 12 2023

Hello all and thank you for checking out this weeks real estate market update! Below are the numbers for this week. Looking forward, I hope everyone has a fantastic mothers day weekend and dont forget to come see me at the Yellowknife Chamber of Commerce trade how at the multiplex this saturday and sunday!

So, with that, this past week in Yellowknife real estate we saw:

14 New listings hit the market, average list price being $493,292. 

We saw 2 listings come back on the market be that because their deals collapsed or they were re-listed after being taken down. 

We saw 7 price reductions this week, notaby only 1 of those price reductions came from Coldwell Banker. Here at Coldwell Banker we have very in-depth information files on most Yellowknife properties and these in-depth files dating decades back help us to ascertain all sorts of information about the homes we list and quite often we have agents from other brokerages reaching out to us for information on their listings... Safe to say Coldwell has been running a tight ship these past few weeks as the market fires up!

This past week we saw 11 conditional sales and 9 firm sales! Average sale price on the firm sales this week is $498,877 and the average listed price of those same 9 properties was $505,233! That means last weeks sale happened at 98.7% of the listed price, on average! What does that mean for you, a buyer? Low balling in this market wont get you anywhere! Unfortunately. You all know I love to get a deal for my clients, so touch base and lets see what we can do for you! Everyone have a great weekend ahead and come by the trade show saturday and sunday!  

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