{"id":1421,"date":"2022-08-11T13:10:11","date_gmt":"2022-08-11T19:10:11","guid":{"rendered":"http:\/\/www.century21yk.ca\/blog\/?p=1421"},"modified":"2022-08-12T06:58:16","modified_gmt":"2022-08-12T12:58:16","slug":"sales-down-inventory-up-in-july-2022","status":"publish","type":"post","link":"https:\/\/www.century21yk.ca\/blog\/2022\/08\/sales-down-inventory-up-in-july-2022\/","title":{"rendered":"Sales Down, Inventory Up in July 2022"},"content":{"rendered":"

After a crazy couple of years for the Yellowknife real estate market, it look increasingly like we are getting back to the old normal.\u00a0 In July we had a mere 23 MLS sales transactions, a 49% reduction from July of 2021.\u00a0 \u00a0And although 46 listings does not seem like a ton of options for eager buyers, it is considerably more than we’ve become used to for the last couple of years.\u00a0 And with additional interest rate increases likely on their way, we expect this slowing trend to continue.<\/p>\n

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Before COVID-19 came along and threw a spanner in people’s travel patterns, Yellowknife Realtors were accustomed to a significant slowdown during the summer months.\u00a0 You could pretty much set your watch by it.\u00a0 Kids would finish school at the end of June and families would hit the road, or the lake, or the campground.\u00a0 And we used to expect September, with folks streaming back into town, to bring about mini-peak – a last small rush before the winter doldrums.\u00a0 At least on the demand side of things, that is.\u00a0 Based on the average of the last five years, including the remainder of August we’ll likely only see another 70-80 listings hit the market before the end of the year<\/p>\n

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All this to say, things are finally getting better for buyers.\u00a0 We’re seeing an increase in options on the market, and “New Price” notifications are becoming more common with each passing week.<\/p>\n","protected":false},"excerpt":{"rendered":"

After a crazy couple of years for the Yellowknife real estate market, it look increasingly like we are getting back to the old normal.\u00a0 In July we had a mere 23 MLS sales transactions, a …<\/p>\n","protected":false},"author":3,"featured_media":1251,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[54],"tags":[],"class_list":["post-1421","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t