Housing prices are continuing decline
The bloom continues to be off the rose when it comes to the Yukon real estate market.
The bloom continues to be off the rose when it comes to the Yukon real estate market.
According to the latest report from the Yukon Bureau of Statistics, the average price of a home in Whitehorse declined once again in the fourth quarter of 2023.
The report states, “The value of real estate transactions totalled $368.8 million in 2023 compared to the record-high of $403.5 million in 2022, a decrease of $34.6 million, or 8.6 per cent.
“The number of single-detached house sales (including country residential properties) totalled 254 in 2023 compared to 326 in 2022, with the average sale price of $640,600, a decrease of $36,100, or 5.6 per cent, from $676,700 in 2022.”
The report went on to further break down the numbers.
The average sale price of a single-detached house in Whitehorse in the last quarter of 2023 was $627,400, a decrease of $12,300, or 1.9 per cent, from the fourth quarter of 2022.
The average condominium apartment sale price in Whitehorse in late 2023 was $416,000, an increase of $55,600, or 15.4 per cent, from the fourth quarter of 2022.
“Excluding country residential properties, the average sale price of single-detached houses was $627,600, a decrease of $23,900, or 3.7 per cent, from $651,500 in 2022.”
On Friday and today, the Star reached out to Marc Perrault, the president of the Yukon Real Estate Association, for his perspective on the numbers, but was unable to contact him.
The number of semi-detached house sales totalled 48 in 2023 compared to 38 in 2022.
The average duplex price was $515,300 in late 2023, a decrease of $1,400, or 0.3 per cent, compared to $516,700 in the last quarter of 2022.
A total of 156 condominium apartments were sold in 2023 compared to 107 in 2022.
The average condo price was $412,400, an increase of $1,900, or 0.5 per cent, from $410,500 in 2022.
A total of 129 row houses were sold in 2023 compared to 140 in 2022.
The average price of a row house was $450,900, a drop of $18,800, or four per cent, from $469,700 in 2022.
The value of commercial and industrial sales in 2023 totalled $33.9 million compared to $32 million in 2022.
The number of commercial and industrial sales in 2023 totalled 38, compared to 41 in 2022.
In the fourth quarter of 2023, the total value of real estate transactions in Yukon was $102.9 million: 92.4 million in Whitehorse and $10.6 million for the rest of the Yukon.
Comments (4)
Up 0 Down 0
Groucho d'North on Mar 2, 2024 at 9:22 am
One more thing: While the price of homes may be declining a bit, the cost of money continues to climb higher, so too insurance, heating costs and all the other little add-ons required to own a home in these modern times.
First quarter profit announcements from the banks will be made soon, what story do you think will go with them?
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Groucho d'North on Feb 28, 2024 at 9:43 am
Statistics: The only science that enables different experts using the same figures to draw different conclusions.
Whereas, If all economists were laid end to end, they would not reach a conclusion.
Paying the monthly bills is still the detrmining factor on who buys what and when...unless you're a government and can borrow money without concern for paying it back during your term.
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bonanzajoe on Feb 27, 2024 at 6:16 pm
Jack, at the rate they're going we many not know that for another ten years. They only got about 6-8 people working on it.
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Jack on Feb 26, 2024 at 10:32 pm
Did the million $ condo overlooking KFC sell?