It would seem the most recent real estate statistics have confirmed what many have been saying: housing prices are continuing to rise – and fast.
The Yukon Bureau of Statistics recently released the real estate statistics for the first quarter of 2018. They show the average price of most housing types in Whitehorse has soared considerably compared to a year earlier.
The average single-detached home, for example, sold for an average $461,900, compared to $423,300 in the first quarter of 2017.
In Whitehorse, the median price of single houses in the first quarter was $439,000. That means the prices of half the houses sold were above this figure, and the remaining half, below.
The average duplex price went up from $345,900 to $361,200, while the average condo increased from $328,900 to $332,800.
The price of an average residential lot climbed from $144,600 to $182,500.
The only housing type to see an increase in sales were single-detached homes, with 47 selling in the first quarter of this year compared to 41 in the same period of last year.
They remain the most popular purchase.
A total of six duplexes sold in the first quarter of this year, compared to 11 in the first quarter of 2017.
A total of 22 condos sold in the first quarter compared to 30 a year earlier. Five residential lots were sold compared to 10 in the first quarter of 2017.
Whistle Bend proved to be the most popular neighbourhood in the first quarter of 2018 to purchase a detached home, with 15 homes sold there.
That was followed by Copper Ridge and Porter Creek at eight, Riverdale at six and four in Granger.
Sales in other neighbourhoods were suppressed for confidentiality reasons, the bureau said.
Figures from the fourth quarter of 2017, however, show the average country residential home sold for $596,500, up from $570,400 in the first quarter of 2017.
The value of real estate transactions in the Yukon in the first quarter of 2018 was $42.7 million, consisting of $36.2 million in Whitehorse and $6.5 million for the rest of the territory.
The Yukon Real Estate Association did not respond to the Star’s request for comment on the latest trends.