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Market Analysis Yellowknife Rental Market Update, December 2022 For anyone thinking of moving to Yellowknife in 2023, understanding what’s going on in our local rental market is pretty important.  There is no one source for this information that is perfect, but CMHC’s annual Northern Housing Report is the most important piece of the puzzle.  CBC North reported on the new 2022 edition this […]
Fall 2022 Yellowknife Real Estate Market Update I was recently interviewed by journalist Jonathan Gardiner at NNSL regarding the state of the Yellowknife Real Estate Market.  Here are my answers in full.  Please note, the stats I reference are from August 1 to Nov 23. 1) What is the state of the housing market right now in Yellowknife? The Yellowknife market has […]
Market Analysis Sales Down, Inventory Up in July 2022 After a crazy couple of years for the Yellowknife real estate market, it look increasingly like we are getting back to the old normal.  In July we had a mere 23 MLS sales transactions, a 49% reduction from July of 2021.   And although 46 listings does not seem like a ton of options for eager […]
A Look Back at the First Half of 2022 With the first half of 2022 now behind us, it’s time for our annual Century 21 Prospect Realty mid-year review! The 2022 Yellowknife real estate market has been very busy so far. Although this year’s 169 MLS sales represents a 12% drop from the first half of 2021, it was well above the five-year moving […]
Market Analysis Is the Tide Turning for the Yellowknife Real Estate Market? It has been a long while since we’ve seen month-end inventory higher than it was a year ago, but that’s exactly what we experienced at the end of May.  A difference of two listings may not seem like a lot (35 listings on the market at the end of May 2022 vs. 33 in May […]
Market Review: April 2022 April is in the books and although we finally saw some signs of life on the supply side, with 50 new listings coming to market, demand remains very high and those listings aren’t lasting very long – only 21 days on average.  By month end we had only 24 homes remaining on the market, which […]
Market Review: March 2022 Another month of 2022 is in the books and Yellowknife’s real estate market is struggling to get out of the gates.  The demand is there, buyers are eager to find homes, but the volume of new listings is very low compared to last year.  There may be a COVID-19 explanation for this.  Last year, relatively […]
Market Review: February 2022 February 2022 is in the books and the number of transactions and new listings is very typical for this time of year.  If there is a surprise in this month’s market review, it is that more people have not taken advantage of rock-bottom inventory levels and listed their homes for sale. To give our readers […]
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Market Analysis Market Review: January 2022 Because it is typically such a slow month, there is only so much that can be gleaned about the state of the Yellowknife real estate market by looking at January sales.  To see what we mean by this, consider January’s average sale price of $372,300, a decline of 19% compared to the 2021 full-year average […]
Market Analysis Yellowknife Real Estate: A Look Back At 2021 It will come as no surprise to anyone following our Yellowknife real estate market that, upon close review, 2021 turns out to have been a very busy year.  The number of sales was up by 20%, homes sold twice as fast as in 2020 at an average of only 37 days on the market, and […]
Market Analysis Market Review: November 2021 With November 2021 now in the books, we have some new data to report.  Activity was down slightly, with only 22 MLS sales in the month.  New listings were about normal for this time of year, with 12 new entrants.  Average sale price was down by a big chunk, but as we’ve written about before, […]
Market Review: October 2021 One more month of 2021 is in the books, and the prevailing theme continues to be low inventory.  As of the end of October there were only 22 listings in Yellowknife. With so little to choose from, it’s understandable that the number of sales has come down a touch. Average prices were up a bit, […]
Education and Advocacy Selling Your Yellowknife Home in 2021: What to Expect This and other articles about the Yellowknife real estate market are available in our e-newsletter.  Click on this link to sign up and receive our latest edition. As mentioned in my last post (“Year End Review”), 2020 was a busy year in the Yellowknife real estate market.  Fewer people listed their homes for sale than […]
Education and Advocacy 2020 Year End Review: A Look Back at Yellowknife’s Real Estate Market This and other articles about the Yellowknife real estate market are available in our e-newsletter.  Click on this link to sign up and receive our latest edition. Well, 2020 was pretty crazy. Just like most economic sectors in most countries in the world, COVID-19 left the Canadian real estate sector facing great uncertainty in the […]
Yellowknife Market Update: Virtual Tours are Taking Over It’s hard, and pretty unpleasant, to pinpoint a start date to this period of COVID-19 disruption to all of our lives, but for the sake of measuring its impact on the Yellowknife real estate market, March 15th is a reasonable starting point.  We are now one month past that date, which makes this a good […]
Selling Homes in the Era of COVID-19 Yesterday, Cabin Radio posted an article about some of the challenges facing Yellowknife Realtors as they try to help people buy and sell homes in the current environment of COVID-19 and physical distancing.  In the article I’m quoted as saying the market has slowed substantially – which I’m sure comes as no surprise.  If there […]
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 […]
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 […]
Life in the "Knife" 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 […]
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 […]

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