Prices of homes in Whitehorse are on the rise
It appears the price of a home in Whitehorse is going up, at least by a bit.
It appears the price of a home in Whitehorse is going up, at least by a bit.
The Yukon Bureau of Statistics has released its most recent housing figures for the third quarter of 2015.
They show there were $85.6 million in real estate sales throughout the territory.
Of that, $67.1 million worth occurred in Whitehorse. The remaining $18.5 million came from throughout the territory for the third quarter.
That represents an overall increase in sales of $9.6 million compared to the same period in 2014, when sales totalled $76 million.
The figures also show the average home price in Whitehorse going up since the same period a year ago.
The statistics do not detail prices elsewhere in the Yukon, but show the average prices for most types of homes in Whitehorse rising since the third quarter of 2014.
A home buyer purchasing an average single-detached home in the third quarter of this year would have paid $419,700 compared to $408,000 in the same period of 2014.
A total of 79 single-detached homes were sold in the third quarter of each year.
Increases were also seen in the average home prices of mobile homes and condos.
The average mobile home price rose from $183,500 to $218,000 and condos increased from $291,600 to $318,100.
Sales of each also climbed with 11 mobile homes sold in the third quarter of 2015 compared to five in the same period of 2014.
Condo sales showed 50 units sold for 2015’s third quarter compared to 30 in the year previous.
Duplexes were the exception to the sales trend.
While the number of duplex units (with one unit representing half of the duplex) sold rose in the third quarter of 2015, the average price dipped from $314,700 in the third quarter of 2014 to $310,600 this past quarter.
Granger appears to have been the most expensive neighbourhood to buy in during the third quarter of 2015.
It had the highest average single-detached home price ($522,000) based on the four homes sold in that neighbourhood.
Other neighbourhoods in Whitehorse saw:
• four single-detached homes sold in the downtown area for an average price of $329,400;
• 14 houses in Riverdale for an average price of $384,200;
• 13 houses in Porter Creek for an average $399,100;
• 12 houses in country residential neighbourhoods for an average $471,600;
• 19 houses in Copper Ridge for an average $423,000;
• six houses in Whistle Bend for an average $445,200; and
• another four houses in Takhini, for an average of $421,600.
Another three houses classified as being in “other” neighbourhoods – Hillcrest, Valleyview and Crestview – sold for an average price of $371,300.
On the non-residential front, a total of four commercial properties and six industrial properties were sold in the third quarter, with the average price of a commercial property at $388,400 and $592,700 for an industrial property.
Comments (5)
Up 26 Down 2
Groucho d'North on Dec 30, 2015 at 10:01 am
The high price is only a problem if you are buying. The vendor side of the transaction is quite happy with the current market situation. Housing is not so much about shelter anymore as it is about investments. The stock market is a joke with all the sanctioned manipulation by various parties, Interest rates are ridiculously low, so most people invest in real property to try and get ahead. Local developers promoted condos in a marketplace that was desperate for low income housing, the result being a lack of needed housing and various parties trying to keep their condo investment value up until the market equalizes a bit. It was a business decision to make money not to create the housing needed by the marketplace. Had the developers built low income housing it would be a different situation today. Government needs to decide if it is going to support business or people who need decent places to live outside of more social housing projects.
Up 43 Down 5
ProScience Greenie on Dec 30, 2015 at 6:39 am
The whole Yukon real estate market is a scam with the market being manipulated to keep prices artificially high.
The saddest part is that young families can less and less afford a home, even a small home. Unless one is lucky enough to get a government job-for-life, there are very few jobs out there that pay enough to allow an individual or family to own a home in Whitehorse.
Many of the people in positions of power and influence in this territory got their land on a squat or for next to nothing and now sit on $600K properties and do everything in their power to maintain an artificiality inflated market.
Meanwhile, we have so much available land out there that could be used to create decent size lots where people could build small homes and expand as they can afford.
Time to burst the housing bubble so home ownership is possible for the average Yukoner, especially our youth.
Up 35 Down 29
S-toe on Dec 29, 2015 at 1:28 pm
This is only to keep the government pyramid scheme going for few years, how else is the government funding it's taxpayer waste program?? Just wait and in a few weeks they will announce an increase in property taxes....
By the way, I left the Yukon because of these artificially inflated prices, one day it will go flat on it nose.
Up 38 Down 20
jc on Dec 28, 2015 at 9:59 pm
Only government workers can afford to pay those outrageously high prices. The rest of us have to rent.
Up 28 Down 3
Laugh out loud on Dec 28, 2015 at 5:44 pm
Quite the bold statistical angle portrayed by YBoS......wonder what it would look like with the reality of available building lots, low commodity prices, declining employment......etc of Yukon today?
But no one but those portraying would know.....so Yukon.