Yellowknife Real Estate Market Update

Yellowknife Real Estate Market Update May 29 2024

Hello and thank you for checking out this weeks Yellowknife Real Estate Market Update. Lets get straight to it! 

Bit of a mixed market at this point in time; homes under 550,000 sell fast and competitively while homes above 600,000 are on average a bit slower to go but continue to see action. 

Over the past 2 weeks Yellowknife saw 16 new listings hit the market with 5 already attracting conditional offers (only one of which is above that 600,000 mark).

Over the same time period we saw 7 price reductions, 14 conditional sale and 15 firm (unconditional sales). For the 15 firm sales the average list price of those homes was $549,380 and the average sale price is $535,110 showing some buyers are finding slight deals in their purchases.

Analysts report the Bank Of Canada is expecting a rate drop on lending rates this up coming week, which should open the doors to more buyers and allow current shoppers access to better lending rates on their mortgage financing. We will keep our eyes peeled for the first week of June to see what the Bank Of Canada decides. 

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