Average Granger home sold for $810,000
The price of housing continues to escalate in Whitehorse, according to the quarterly housing report published this week by the Yukon Bureau of Statistics.
The price of housing continues to escalate in Whitehorse, according to the quarterly housing report published this week by the Yukon Bureau of Statistics.
The average price for a house in Whitehorse in the third quarter of this year was a record-high $701,200.
That represents an increase of $44,400 or 6.8 per cent compared to the third quarter of 2021.
A total of 100 single-family houses were sold in July, August and September, a decrease of two compared to the third quarter last year.
The average price of houses, not including country residential homes, was $691,900.
That represents an increase of $49,500 or 7.7 per cent compared to the average price of $642,400 in the third quarter of 2021.
Condominium sales were up 36 per cent, with 64 sales compared to 47 last year.
The average price for condos rose by $30,900 to a record high of $487,200, representing an increase of 6.8 per cent compared to the average third-quarter price last year of $456,300.
The 64 condos sold are one less than the five-year average of 65 sales in the third quarter.
There were 12 duplexes sold in the summer, or one less than the five-year average of 13 for third-quarter sales.
Duplex sales averaged a record $562,200, up $50,700 or 10 per cent from the average price last year of $511,500.
The number of mobile homes sold this past summer dropped to three from the 11 that changed hands in the third quarter of 2021.
But the average price climbed by $46,100 to $451,200.
That reflects an increase of 11.4 per cent compared to the average price of $405,100 in the third quarter of 2021.
The average tab for homes in the third quarter was highest in the Granger subdivision at $810,000.
That was followed by the average price of $758,300 for country residential properties and an average of $738,600 for houses sold in Whistle Bend.
Prices downtown were the lowest, at an average of $521,000.
Whistle Bend and Porter Creek led real estate transactions in the third quarter with 21 each compared to 18 in Riverdale and 16 in Copper Ridge.
The value of real estate transactions in the third quarter was $142.1 million in Whitehorse and $2 million for the rest of the Yukon.
Comments (26)
Up 3 Down 2
Juniper Jackson on Nov 3, 2022 at 4:40 am
Patti: Are you implying that myself and other posters support this Liberal government and approve the cost of housing? Marxists? I don't follow what you are getting at with your post? Can you clarify please? Thanks.
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Yukoner61 on Nov 1, 2022 at 10:07 pm
@Groucho "The proceeds of selling this place will be our financial padding for the rest of our living days, so I hope to make a lot. Selling my investment will reward me and my wife. "
That sounds like you made some good choices in life and have a solid plan to retire down south and enjoy your golden years.
The really weird part of this is that you are saying you won't cash in on your solid plan to retire unless the Liberal government is re-elected. Basing your retirement plans on politics is extremely strange to say the least.
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Nathan Living on Nov 1, 2022 at 7:50 pm
Its not sustainable!
If there is a downturn that slows the mining industry, higher interest and mortgage rates, and especially if governments reduce spending and reduce their workforces then housing prices will fall and it's as certain as the law of gravity,
Up 6 Down 8
Patti Eyre on Nov 1, 2022 at 4:17 pm
Marxist liberal thinkdrain bonanzajo would says, Josi and Juni are always right let's listen to their cognitive dissonance, now let’s carry on ya’all. But for those of us still living in reality, 700K is an insurmountable price for many. But I have hope, marxist liberal thinkdrain bonanzajo can never take that way from me!
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Groucho d'North on Nov 1, 2022 at 9:55 am
If the current government is re-elected I will be selling our country res property to head south where a fixed income goes further to maintain house & home. I bought it cheap back when the Faro Mine was shutting down and many feared our economic future was crashing, there was not much optimisim. Times have changed and the market is ripe for me to sell and I will not be selling cheap. All the traffic wil bear is the price. We scrimped and saved and did without so we could pay for this place back then, it was an investment we made because we did believe that Yukon's economy would improve despite governments getting in the way of economic growth with all their new rules and regulations for this and that. The proceeds of selling this place will be our financial padding for the rest of our living days, so I hope to make a lot. Selling my investment will reward me and my wife. Call it greed if you want, but my job is to do the best for me and mine, solving the housing crisis is the government's job that they are paid handsomely to do...well or otherwise.
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Dallas on Oct 31, 2022 at 6:09 pm
Hey there country reze, you know why people have agg land up here….it’s because we f#€£ing can and you can too if you wanted too and here is another fyi we don’t get it for free, you sound like a typical Marxist. Cheers - have a nice day.
Up 23 Down 14
bonanzajoe on Oct 31, 2022 at 5:20 pm
@Interesting times for the Yukon: "So please, anyone want to explain how the Yukon with it's literally endless landscapes and tons of natural resources is averaging $700k for houses built out of wood on 5,000 square foot lots? Anyone?" Yeah, its simple. Marxist dictator Liberal/NDP governments.
Up 35 Down 4
Canada Has Fallen on Oct 31, 2022 at 3:14 pm
I compare my life of scratching to try and afford to put a single roof over my head in Whitehorse to the life my WW2 vet grandfather had. At wars end he started out with nothing and by the the time he passed in the 70’s he’d accumulated a half section of land in Alberta, an additional farm in Alberta, a house in Whitehorse and 15 acres of lakeside property with a nice log cabin on it in Yukon. He was just an ordinary person, certainly not rich and was able to achieve that in his life without being in hawk to a bank up to his eyeballs. Compare that to what a working stiff can achieve today and see how far as a country we have fallen. The system now has its Canadian slaves right where it wants them where you now work your life away for a collection of sticks formed into a house on a postage stamp sized piece of ground.
Up 28 Down 9
Country Rez on Oct 31, 2022 at 1:49 pm
So many folks dream is being able to have a small country residential property of <10 acres
And yet, the vast majority of land that could be country residential is in the hands of a select few owners who’s land is zoned agricultural. The majority of these owners have no intention of farming this land or have they ever. They bought it acknowledging this legal requirement and various Yukon government over the years have let them get away with it. These owners are banking (literally) that some sympathetic future government will let them subdivide these lands with no restrictions enabling these speculators to become rich.
The government should take back all lands not being actively farmed in food production and create more small country residential parcels so that Yukoners can have a home. You fly over areas like the Mayo road and the Alaska highway south and there’s thousands of acres of vacant land doing nothing. There’s a very small group of land owners who have been lobbying the Yukon Party hard to allow them to subdivide their agricultural parcels into hundreds of small parcels and thereby become the incredibly wealthy.
Speak up Yukoners before it’s too late.
Up 36 Down 6
Interesting times for the Yukon on Oct 31, 2022 at 12:05 pm
Ah Canada. 2nd largest country on the planet. Billions of trees to procure to make renewable building materials, millions of acres of vacant land that sits undeveloped because of red tape/FN claims/government inaction. Billions of dollars that sits in the ground in the form of natural gas, oil and precious metals, that remains undeveloped again because of red tape/FN claims/government inaction, revenue that could be used for oh, I don't know the two most important things, getting more doctors and building more housing.
The Yukon has 40,000 people in a landmass of 482 thousand square kilometers. That is larger than Germany, Belgium and Netherlands combined. Oh and just for fun the total population of those three is around 112 million people. Yeah, one hundred and twelve million, or 2800x what the Yukon has.
With that bit of math out of the way, can someone please tell me exactly why we can't carve out lots in the currently "wild" areas around Whitehorse and other communities. What is stopping this? It's not like we can't level the ground, look at how much land a placer mine moves in a season. Heck, look at how long it took them to build the Alaska Highway, in the middle of wilderness, it was about a year, for 2700kms of road with 1940's technology.
So please, anyone want to explain how the Yukon with it's literally endless landscapes and tons of natural resources is averaging $700k for houses built out of wood on 5,000 square foot lots? Anyone?
Up 24 Down 4
iBrian on Oct 31, 2022 at 9:13 am
We’re going the way of Old Britain. We will have 3 generations living under 1 room with Multi-Generation mortgages within 15 years at this rate. Along with a huge increase in Gypsy caravans.
Up 34 Down 9
BnR on Oct 30, 2022 at 4:02 pm
I’ve known friends who’ve listed their homes, told the realtor they wanted say $500K, and the realtor has straight up told them oh no, we can get you $650 or $700K.
Working in collusion with the appraiser further entrenched this.
There is an inventory of house in all shapes and sizes and locations, but with realtors driving up prices, none of these are even close to being affordable.
Look at the numbers of new realtors and realtors who have moved up here recently.
This is like the Gold Rush of 1898, but now the only ones striking it rich are the realtors.
Up 53 Down 10
Sarah N. on Oct 30, 2022 at 12:22 pm
My husband and I put the Whitehorse housing rat race in our rear view mirror just before Covid struck and decided to move to a lower cost jurisdiction. I can say it has lead to freedom from financial stress and overall much happier lives where suddenly we don’t need to come up with thousands every month just to cover the mortgage and high cost of living. It is so nice to live and work for the benefit of ourselves and not for the bank after years of having felt almost trapped in the Whitehorse housing market. At a relatively young age we can now breath and experience life the way it is supposed to be lived again instead of feeling like slaves to the system. The only way someone should get into the Whitehorse housing market now is if they feel like it’s worth it to sentence themselves to a mortgage for a period of time in the hopes that some other individual is going to pay you even more money when you want to get out.
Up 36 Down 8
The Other Dave on Oct 30, 2022 at 11:19 am
Canada = One giant housing Ponzi scheme that the federal government is desperately trying to keep fed with ever more immigrants in a desperate attempt to keep the house of cards from collapsing.
25 years ago I bought a Riverdale house for $150k and my in laws bought an older but well maintained mobile home on a rental lot for $30k. At one time in the 50’s my grandfather bought a fixer upper downtown for $500. Today that same house which is still there would go for well over 1000 times that much, why?
Up 31 Down 6
Voodoo economics on Oct 30, 2022 at 12:38 am
Interest rates up 1,500% in the past year AND prices keep rising? Are you awake yet? We’re being squeezed from both ends and these pr**ks are telling us they’re only jacking interest to “cool” inflation. And no, Wilf, there’s no growth happening. Were you in a coma for the past two years? The demand is outstripping the supply because the supply is being cut. And that’s why inflation will continue unchecked, regardless of what the central bank does with the interest rate. That intervention only cooled inflation when we had all the supply consumers could want/need. That was then; this is now. And DON’T tell me I’m greedy because I don’t want to live in a f**king sea can.
Up 40 Down 9
drum on Oct 29, 2022 at 11:05 pm
The more that house sells for the bigger commission to the Realter. Guess who is pushing up the prices?
Up 25 Down 9
Wilf Carter on Oct 29, 2022 at 6:56 pm
Liberals/NDP Federally supported locally carbon tax going 300% on heating fuel.
Up 25 Down 2
Heathen on Oct 29, 2022 at 5:27 pm
“For we have now for many years been suffering; and we are silent when we see that all the money of all the nation has come into the hands of a few men; which we seem to tolerate and to permit with the more equanimity, because none of these robbers conceals what he is doing; none of them take the least trouble to keep their covetousness in any obscurity.”
-Cicero
Up 35 Down 13
Juniper Jackson on Oct 29, 2022 at 12:36 pm
This happened in the early 80s, cost of housing escalated very quickly.. Cassiar shut down and people just turned in their house keys and walked away. The banks couldn't sell those repossessed homes, and they froze up, broken pipes over the winter. It was pretty grim. The Yukon Inn had a sign up, "Eat Here or We'll Both Starve". Trudeau has passed legislation allowing the banks to use depositor's money to cover bank losses. If that 'depression' happens again here..everyone with money in their bank account is going to get burned.
https://financialpost.com/fp-finance/banking/trudeau-gives-banks-power-to-freeze-funds-without-court-order-in-bid-to-choke-off-protest-funding
https://www.canada.ca/en/financial-consumer-agency/services/banking/right-of-offset.html
Up 13 Down 19
Wilf Carter on Oct 29, 2022 at 6:39 am
Supply and demand are the issue. We have way more demand than supply due to growth, but Yukon and Federal Governments are falling behind to keeping up with demand and growth. Resource industry is flying in and out staff with no benefits to Yukoners on tax revenues, spending on housing, food and creating more jobs from supplying new housing for the private sector. We have a shortage of over 2800 private sector housing in Whitehorse alone. We have shortage of over 500 houses for seniors. We now have 800 shortages for homeless. We need now $500 million for housing and land development in Whitehorse but in our MP red paper flue million to build a flue housing maybe 6% of the real demand overall. Then you have Yukon Liberals red paper which is even worse with no housing plan in place at all. You have department community services and department of economic development of Yukon Government that don't understand the core for improving Yukon future for Yukoners is serviced land and housing.
As some who has worked in management in all 4 levels of governments and especially on all types of housing and serviced land, we need a shortage and long-range plan, or we are going mass movement out of Yukon because of failure of governments to take action.
Up 31 Down 10
Josey Wales on Oct 29, 2022 at 4:39 am
Hmm...seems reasonable this average house price.
Factor in rising interest rates, maybe Blackrock will open an office up here.
“You will own nothing and be happy” said a lunatic Gerry.
Y’all starting to see how engineered we are?
Nope? Guess that is why the near million dollar home where cognitive dissonance is as common as lulu lemons.
Up 44 Down 6
Jack on Oct 29, 2022 at 4:06 am
This will come crashing down once higher interest rates make their way through a full mortgage cycle. Rates have only just begun to rise.
Up 26 Down 4
DiNinni on Oct 28, 2022 at 6:13 pm
Very Ridiculous!
Mortgages…..ouch!
Half the palace you can buy down south!!!
Up 41 Down 4
EZMoney on Oct 28, 2022 at 5:16 pm
Good news for the used car salesma...., er, I mean the realtors, bank accounts.
Not so good for the rest of us.
Up 42 Down 10
Small Luxuries on Oct 28, 2022 at 4:40 pm
Never been happier with our small and efficient house. Never more confused by willing buyers in the current market. For us all in with land, less than $200k in capital outlay (no debt, just cash from a decade of saving while living in shared rental squalor) and a yearly budget less than $3k. That includes our tiny electricity bills balanced by solar, satellite internet, property tax and wildfire insurance for the entire year.
It’s really unfortunate that people have little choice other than cookie-cutter-National-Building-Code-mortgage-slave-cages. Even the wood-frame condos in which you can hear your neighbour’s every move are going for two or three times their true value. Add a dysfunctional healthcare system, inept or nonexistent future planning amongst leadership and increasing complexity of regulation… No wonder Canada needs more immigration to feed the pyramid scheme of overspending we are becoming. Shame on us.
We may not live in a mansion, but we can sweep the floors and lock the doors on our way out to whatever we want to do or wherever we wish to travel. Consider what is more important to you before signing a mortgage that you won’t be able to pay off in your lifetime.
Up 45 Down 6
Bubbles, Ricky and Julian on Oct 28, 2022 at 4:34 pm
I remember when trailers (or mobile homes to be politically correct) were for the lower class, now they go for half a million? What suckers are buying these? Lol