Yellowknife Real Estate Post Evacuation

Yellowknife Real Estate Market After The Evacuation

The Yellowknife real estate market post evacuation is still alive, just tired. The full effect of the evacuation hasnt sunk in yet and may take another week or two before it does but here is what I am seeing so far.

More buyers than sellers

Yellowknife continues to see more buyers circling the market than sellers. We have more locals and non locals alike looking for homes than are available, we continue to see a need for more inventory especially in the lower price ranges to satisfy demand for first timers, down sizers and new-to-Yellowknife buyers who cant afford a 500K + home. 

No large influx of homes on the market

Yellowknifers continue to pose the question "Will there be a furry of people leaving Yellowknife". So far, not at all. My questions to those posing the above question is this; Where would they go? Ontario, Alberta, BC, Quebec were all on fire this summer. BC will soon be getting ready for another flood season. Nova Scotia just got hit by a hurricane.. Where does anyone who is running from now subdued fires going to run to?

Final point, the market has slowed. Its that time of the year. Its being exacerbated by what we just went through. But no major affect is being noticed, by anyone in the market.