Whitehorse Daily Star

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Properties continue to gain in their value

The price of housing in Whitehorse hit another record-high in the second quarter of this year, according to the real estate report compiled by the Yukon Bureau of Statistics.

By Chuck Tobin on August 12, 2022

The price of housing in Whitehorse hit another record-high in the second quarter of this year, according to the real estate report compiled by the Yukon Bureau of Statistics.

The average price of a single-detached house, including country residential homes, was $695,100 in the second quarter (April through June).

That represents an increase of $44,500 or 6.8 per cent compared to second-quarter sales in 2021, says the report, released earlier this week.

The data say the average price of homes – not including the more expensive country residential dwellings – was $643,100, representing an increase of $8,400 or 1.3 per cent compared to second-quarter sales in 2021.

There were 109 single-detached houses sold in April, May and June.

That represents an increase of 18 compared to second-quarter sales last year.

The average price for the 13 Whitehorse duplexes sold – one side only – in the second quarter was $498,700.

The 60 condominium sales in the second quarter went for an average of $453,000 – down $4,700 or one per cent compared to the same period last year.

There were 60 condos sold in April, May and June, or six more than in second-quarter 2021.

Six mobile homes in Whitehorse were sold in the second quarter of this year for an average price of $442,700, representing a $71,400 or 19.2 per cent increase compared to 2021.

The real estate report says eight commercial properties in Whitehorse were sold in the second-quarter for a total value of $9.6 million and four industrial properties changed hands for a total value of $2.3 million.

The total value of all real estate transactions in the Yukon over the past five years ending in June was $157.6 million: $130.1 million in Whitehorse and $27.2 million across the rest of the territory.

There were 225 real estate transactions in Whitehorse in April, May and June, an increase of 44 compared to second-quarter sales last year.

Over the previous five years, second-quarter sales averaged 180, says the report.

The Whistle Bend subdivision led in the number of second-quarter house sales at 39, followed by 17 country residential transactions, 13 in Porter Creek, 14 in Copper Ridge and 12 in Riverdale.

In Whitehorse, the median price of single-detached houses in the second quarter of 2022 was $671,000. That means the prices of half the houses sold were above this figure and the remaining half below.

Country residential properties were the most valuable, at an average price of $976,700 thousand.

They were followed by the average price of $743,000 for homes in Porter Creek; $729,600 in Copper Ridge; $721,100 in Riverdale; $577,600 in Whistle Bend; and $523,200 in the downtown sector.

Comments (12)

Up 6 Down 0

yukon56 on Aug 17, 2022 at 5:49 pm

It all goes to what the market can bear.

Up 11 Down 10

MITCH on Aug 16, 2022 at 4:19 pm

I nominate Brian to replace your reporters, he gets it.

Up 21 Down 6

Brian Melanson on Aug 16, 2022 at 10:15 am

Haha, yeah right, you mean the amount of indebtedness has hit an all time high!

Up 45 Down 14

yukong on Aug 15, 2022 at 11:30 am

As long as the ethics of Yukon realtors go unquestioned, prices will continue to inflate. By the rules of the Yukon real estate board, there is no such thing as a buyer's agent in the Yukon. Both the listing agent and the agent bringing the buyer are working for the seller. What effect do you think that has on prices? In other parts of the world, that's called collusion, maybe even fraud. But in the Yukon, the conflict of interest capital of the world, it's just business as usual.

Up 14 Down 25

Wilf Carter on Aug 14, 2022 at 12:19 pm

This problem is lack of our Yukon and Federal government spending money where money is needed - serviced land, housing, cost of food, and lack of economic infrastructure to support economic growth.

Up 35 Down 8

AdmiralAss on Aug 14, 2022 at 10:27 am

"value" no value in these homes just cost. Inflated prices are not value. Best to define these terms before trying to use them interchangeably. I am sure some of these people think it's "value" though. Nice catchy headline.

Up 24 Down 25

Josey Wales on Aug 14, 2022 at 8:49 am

A long chronic issue up here, dirt.
With the epic volume of state agents, essentially the gatekeepers it will never change.
Factor in the segregation of people’s and cultural supremacists I see things getting far worse.

By absolute design I suggest in thee strongest of terms.
...you will own nothing and be happy...said the lunatic Gerry from WEF.
We are all pawns in their game and manipulation of economics and personal growth being stifled for the collective.
Gee...almost like a band and its citizens really!

YLP & CLP use the Stalin playbook along with Orwell’s 1984 to set policy.
Divide and conquer, beset with financial disaster to aid in subjugation of once free citizens.
...and YES it is absolutely woven into our real estate, our land availability and soon even less access to said land.
They are not “saving” the world, they are just acting as so...to save things for themselves and their cronies.

Name me one, just one struggling politician, one struggling chief ( also a politician) or band council member, one civic wizard or their many six figure minions.
...hell even a NGO rep. that is going to decide this winter, heat or eat?
...exactly!

Up 40 Down 6

Dwight, Owner of Lobird Estates on Aug 13, 2022 at 12:36 pm

If the City expands water and sewer lines to the southwest side of Whitehorse, then we can have people bring in newer mobile homes into Lobird.
Homes newer than 15 years old, affordable housing (under 200k) for many families.

Up 21 Down 10

jack on Aug 13, 2022 at 12:14 am

tick tock tick tock.......it's only a matter of time.

Up 27 Down 10

Pink Freud on Aug 12, 2022 at 11:11 pm

Tick, tock, tick, tock… It’s later than you think!

Floyd says:

You are young and life is long, and there is time to kill today
And then one day you find ten years have got behind you
No one told you when to run, you missed the starting gun
And you run, and you run to catch up with the sun but it's sinking
Racing around to come up behind you again
The sun is the same in a relative way but you're older
Shorter of breath and one day closer to death…

And in the end the bill came due for all that ‘free-stuff’… When will the public say, enough is enough!?

Up 65 Down 22

Edie rue on Aug 12, 2022 at 4:05 pm

I question the release of this report at a time when prices are drastically dropping. I wonder if there’s intention to stop the decline. Honestly , the bottom is dropping out fast, and it’s very nice to see. Long time Yukoners being left homeless or out of the housing market is not acceptable.

Up 32 Down 36

Feller on Aug 12, 2022 at 3:09 pm

Thank god I have 3 paid off properties in this town.

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