2020 – A Year Like No Other
2020 was certainly an extraordinary year on many fronts. The COVID-19 pandemic took centre stage and continues to affect our everyday lives. But it is during times of crisis when we realize how lucky we are to have such a caring and supportive community. Thank you for doing your part.
The pandemic also impacted the real estate market across Canada and in Yellowknife. The spring, which is normally one of the busiest seasons for real estate, was much slower but momentum picked up in June and continued through the summer and fall. Here are some important highlights:
- A total of 302 residential properties were sold in 2020, resulting in a 9.8% increase from 2019.
- Of total residential properties sold, the largest segment was manufactured/mobile homes (120) followed by single family homes (97) and then apartments and townhouses (85).
- The average price for all residential properties in Yellowknife in 2020 was $421,600, which was a 3.3% increase versus 2019.
- The average number of days on the market for residential properties sold in Yellowknife in 2020 was 82 days, which was 10 days less than in 2019.
Looking ahead there are reasons for optimism in 2021 and we look forward to helping you with all your real estate needs this new year.
Note: Sales data is compiled through December 18, 2020 and is based on Yellowknife Real Estate Board Residential MLS data for the Yellowknife market.