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5 Tips for Selling Your Yellowknife Home in 2019 In my last post I noted that the Yellowknife market declined a bit in 2018; MLS sales were down by 11%, homes took two weeks longer to sell and there were more unsold listings than we’ve seen in a long time (go here to receive the full market analysis).  Nevertheless, there are steps sellers can […]
Market Analysis A Look Back at Yellowknife’s Real Estate Market in 2018 There was a time not too long ago when Yellowknife homes virtually sold themselves.  Multi-offer situations were commonplace, homes sold within days of listing, and it wasn’t unheard of for desperate buyers to walk up to people’s doors uninvited and try to persuade them to sell.  Making a considerable profit on the sale of a […]
Gingerbread Competition 2017 Join us in celebrating the holiday season with building a gingerbread house! Let your kids build a house on their own or get the family together and have some fun. Entry categories: |  5 & Under |  6-9 yrs old |  10-13 yrs old |  14-17 yrs old |  Family Judging: Gingerbread homes will be judged […]
Life in the "Knife" 2017 CENTURY 21’S SNOWKING FESTIVAL COLOURING CONTEST Get out yer crayons,  it’s time for our 3rd annual Century 21 Snowking Festival Colouring Contest!  To download your copy of the 2017 entry form, click here. Submit by March 14, 2017 at 6pm for your (or your kids, or both) chance to win two passes to the Capitol Theatre in each of the age categories (0-3yrs, 4-6, 7-8, […]
Education and Advocacy How to Be Sure You’re Working with a Buyer’s Agent Thinking of buying a home?  Under the right market conditions a buyer’s agent can save you thousands of dollars.  Here are some quick tips for figuring out if the REALTOR® you are working with is acting as a buyer’s agent: If you are viewing homes with the listing agent, you are not working with a buyer’s […]
First Time Home Buyer 101 Seminar Thinking of buying a home but not sure where to start?  Attend our second annual First Time Homebuyer 101 seminar and we’ll set you on the right track.  Co-hosted with Sherry Stuart, Mobile Mortgage Specialist at CIBC.  Admission is free of charge.  Pre-register now to receive a first time homebuyers information package!  See the flyer below […]
Century 21’s SnowKing Festival Colouring Contest Get out yer crayons!  It’s time for our 3rd annual Century 21 Snowking Festival Colouring Contest!  To download your copy of the 2016 entry form, click here. Submit by March 24, 2016 at 6pm for your (or your kids, or both) chance to win two passes to the Capitol Theatre in each of seven age categories […]
The Buyer Representation Advantage Even if they haven’t experienced it directly, most Yellowknife homebuyers are familiar with the concept of Buyer Representation.  It’s what they see when they watch real estate Reality TV, and it’s what they usually hear about from family and friends who purchase property in other cities.  Buyer Representation has been around since the 1990s in […]
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Education and Advocacy Northlands is Back on the Market This afternoon CMHC circulated an update to lenders confirming that effective immediately it will once again insure mortgages in the Northlands neighbourhood.  CMHC withdrew its support for mortgages in the area way back on April 10, 2010, due to sewer and water infrastructure issues (see this CBC article with the April 10th announcement).  CMHC’s withdrawl led to to a “hands off” stance […]
Exclusive Listings vs. MLS Listings Over the last few years we’ve had a lot of home sellers ask us to explain the difference between Exclusive listings and MLS® listings.  Exclusive listings are a bit controversial, and are rarely seen in Yellowknife, but there is at least one type of situation where they are potentially preferable to MLS® listings. The MLS®, or Multi-Listing […]
Protect Your Investment Thinking of Selling? Time to Upgrade Your Heating Oil Tank It’s official, the insurance world has turned against single-walled steel heating oil tanks.  Every so often the insurance companies update their policies with respect to which risks they are willing to take and which ones they want to steer well clear of.  And they appear to make these updates in waves, with one company red-flagging […]
For Renters Yellowknife Vacancy Rate Cut in Half This morning the CMHC released its Spring 2015 Rental Market Statistics Report.  Amazingly, Yellowknife’s rental apartment and townhouse vacancy rate was slashed from 5.3% a year ago to 2.4% this spring.  And the reduction would have been even greater had an additional 52 units not been added to the inventory. To get a sense of how […]
Another Round of Interest Rate Cuts It appears that the mortgage war is back on; BMO just slashed its 5-year fixed mortgage rate to 2.79% from 2.99%.  The other banks are sure to follow suit. This despite the fact that Canada’s hottest markets are considered to be overvalued by up to 30%. See this Globe and Mail article for more info. What does this mean for […]
Life in the "Knife" New Cabin Lots Coming This Summer In the Legislative Assembly yesterday, Minister of Lands, Robert C. McLeod, announced a summer 2015 ballot draw for 22 new cabin lots on lakes adjacent to the Ingraham Trail.  For all the details, see the press release here. Not much info is available at this time, but more will be coming on May 1.  
Education and Advocacy What Can Yellowknife Condo Buyers Learn From Toronto? Although it may seem challenging to find similarities between Yellowknife and Toronto, a recent study by Toronto company Condos.ca provides a lot of useful information for Yellowknife condo buyers. The study, entitled Toronto Condo Maintenance Fees: Facts, Stats and Myths, is the result of a ten-year citywide analysis of condos sold through the Toronto Multi-Listing Service (MLS). […]
Education and Advocacy Alberta Government Tables Condominium Property Amendment Act Compared to many Canadian cities, Yellowknife’s condominium sector is still in the very early stages of its development.  We more or less began with the construction of Northern Heights in 1989 and it remains our only high-rise condo building (a bewildering fact – to be discussed in a future post).  Having said that, in recent years we’ve […]
Market Analysis Grace Lake South Update We’ve been fielding a lot of questions lately about the timeline for the sale of Grace Lake South lots.  Earlier today we received the following update from Jeff Humble, Director of Planning and Development at the City of Yellowknife: “Public Works is working on the road profile which will provide the basis for the layout […]
For Renters Vacancy Rate Tightens Slightly in Fall 2014 After 3 straight years of increases, Yellowknife’s vacancy rate declined to 4.8% in the fall of 2014 according to the CMHC.  This dip of 0.5% still leaves renters with lots of options and shouldn’t have much of an impact on rents.  To put things in perspective, our average vacancy rate from 2007 to 2011 was 1.57% It is interesting to […]
Market Analysis Yellowknife Resale Condo Prices Down 18% in 2013 This morning CMHC released its annual Northern Housing Report, on the heels of Wednesday’s release of the Rental Market Statistics report.  For the full report, go here.  It brings good news on the housing starts and vacancy rate fronts, but bad news for owners of older condominiums.  In 2013 resale condo prices were down 18% […]
For Renters Yellowknife Vacancy Rate Eases to 5.3% The CMHC released its bi-annual rental market statistics report this morning and it brings good news for Yellowknife renters.  The vacancy rate in townhomes and apartments has eased to 5.3%, a rate that we haven’t seen since the fall of 2009 – and then only briefly.  This marks the sixth straight reporting period with increasing […]

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