The first-quarter Yukon Real Estate Report is showing a bit of a slowdown in activity with some slight decreases in prices.

There were, for instance, 34 single-detached house sales in Whitehorse during the months of January, February and March of this year, representing a decrease of 20 compared to first-quarter sales in 2022.

The average number of first-quarter sales in the previous five years was 43, show the data, released earlier this month.

The average sale price for Whitehorse homes in the first quarter was $635,000, down $2,300 from $637,300 in the first quarter of last year, representing a drop of 0.4 per cent.

Not including the more expensive country residential properties, the average sale price for a single-detached house was $616,000, representing a decrease of $10,200 or 1.6 per cent compared to first-quarter sales last year.

The report notes the total value of real estate transactions across the Yukon in the first quarter of this year was $70.9 million compared to $81.4 million last year, representing a drop of $10.6 million, or 13 per cent.

Of the $70.9 million in transactions, $61.9 million was in Whitehorse and $9.3 million was across the rest of the territory.

There were three semi-detached house sales in Whitehorse compared to seven in the first quarter of last year.

The average sale price of $456,700 was down $14,900 or 3.2 per cent compared to the first quarter of 2022.

The sale of row houses in Whitehorse was down to 24, compared to 31 last year. The average price was $450,500, representing a boost of $37,000 or 8.9 per cent compared to the average sale price of $413,500 last year.

Condominium sales skyrocketed in Whitehorse to 49 in the first quarter, compared to 18 last year.

The average sale price was $403,800, representing a decrease of $27,000 or 6.3 per cent from the average sale price of $430,800 in the first quarter of 2022.

Whistle Bend saw 11 sales of single-detached homes for an average of $630,200, compared to the average price of $619,000 last year. (Single-detached homes can vary in size, shape and value.)

There were eight sales in Copper Ridge, for an average price of $607,400, The average price for Copper Ridge sales in the first quarter of last year was $668,800.

Porter Creek saw six sales of single-detached homes, for an average price of $591,800, compared to the average price of $637,500 in the first quarter of 2022.

In Riverdale, three homes sold in the first quarter for an average of $549,700, down from the average of $664,500 for the four homes sold last year in the fourth quarter.

Nationally, although the average price of a home in Canada has fallen year-over-year, new data from the Canadian Real Estate Association (CREA) show prices in most major cities have been rising on a monthly basis since January.

The average price of a home in Canada was $716,083 in April, not seasonally adjusted, according to statistics released by the CREA this month.

While this represents a decrease of 3.9 per cent compared to the same time last year, it’s about $104,000 higher than the average price of a home at the beginning of 2023.

According to the CREA, this increase is due to a rebound in home sales, primarily in regions such as the Greater Toronto Area and the Lower Mainland of British Columbia.

“Over the last few months, there have been signs that housing markets were going to heat back up this year, so it wasn’t a surprise to see things take off after the Easter weekend, which often serves as the opener to the spring market,” CREA chair Larry Cerqua said in a statement.

Demand for housing continues to outpace supply across the country, according to the CREA.

Home sales rose 11.3 per cent in April compared to March, despite the number of newly listed properties in Canada remaining at a 20-year low.

The surge in demand and low inventory have put sellers “back in the driver’s seat” in most major Canadian cities, according to a housing market update from the Royal Bank of Canada.

Current demand-supply conditions have contributed to the latest price gains month-over-month, said CREA senior economist Shaun Cathcart.