Yellowknife Real Estate Update October 20 2023

Yellowknife Real Estate Market Update October 20 2023

This past week in the Yellowknife real estate market we saw what could easily be descibed as the start to a seasonally slower real estate market. Over the summer of 2023 we saw easily 10-12 sale per week, average sales prices 98-99% of listed price. This past week we saw 3 total sales. Average sale price of these three sales still on par at 99% of the listed price, but an obvious slow down in quantity of sales. As we slip closer and closer into a buyers market heres the numbers from the past week:

This past week we saw 4 new listings hit the market, 2 of which already have accepted offers. This is good to see; If your home is well priced entering the market the buyer action is still there in Yellowknife to get your home sold, at a certain price bracket. We see listings over 700k sitting for longer than average timelines as we head into fall/winter market. 

This past week brought 2 price changes, 5 conditional sales and as I mentioned only 3 final sales. 2 listings were taken off the market after not selling (proudly, neither of these listings were coldwell banker listings).

As a buyer, moving in cold weather sounds pretty crappy. But being able to buy your home at price or slightly below knowing theres not going to be 2 or 3 other offers on your home of choice might entice some to keep up their search!