They have seen a $10 increase in the price of fox pelts since last spring but at the same time there has been a big decline in the local fox population.
Bryce Miller, wildlife officer in Coral Harbour, said that is not unusual.
"In the Kivalliq there is a four year cycle with the small mammal population and the fox seem to follow that," he explained.
Last year 1,000 foxes came through the Coral Harbour wildlife office. This year that number was slashed to 100.
Although the increased demand in demand is good for prices, there just isn't enough fox for local trappers to keep up.
"There are a fair number of fox trappers who aren't trapping because there aren't a lot of foxes this year," said Miller.
He said this year is the last of the four-year cycle and so the population should begin to rise in coming seasons.
Miller said when populations are high there is greater chance for disease and more competition between the animals.
"The pelts coming in this year are of better quality because the strong have survived," he said.
Overall Miller described the fur market as being on the incline and at the most recent auction a majority of furs sent were sold.
"Winter fox has been in demand the last couple of years. They are back in demand this year," he said.
There were 523 pelts at the most recent auction and all of them sold.
"Everything seems to be selling quite well, except for polar bear."
A majority of the polar bear skins that Miller said they have sent out have not sold.
He isn't sure why polar bear is selling so poorly.
Wolf, on the other hand, continues to be lucrative. Miller said wolf populations are good and furs are selling for an average price of $240.
"The top price has been $570. That is up substantially from last year," he added.
Louie Bruce, a trapper in Coral Harbour took this season off.
He said the fox population didn't warrant him putting his traps out.
"Two years ago there were a lot of foxes. This year there are not many, so I decided not to trap," he said.
He is encouraged by higher prices and expects if they stay high there will be more people trapping next season, if the fox population comes back.
Coral Harbour mayor, Marvin Dion, said approximately 41 per cent of local residents rely on trapping for income.