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SOMBA K'E/YELLOWKNIFE
The hot summer housing sales season is now behind us, leaving some Yellowknife homeowners determining a strategy to unload their homes during a typically slower last quarter.

The Horton Crescent home of Property Guys franchise co-owner Ryan Sawatzky, listed earlier this month. Homeowners typically have the most difficulty selling in the last quarter of the year. - photo courtesy of Property Guys

"There's been kind of a slowdown across the board," said Property Guys franchise co-owner Ryan Sawatzky, who listed his Horton Crescent home earlier this month.

If not for another housing opportunity that arose for Sawatzky, he would not have sold in this quarter, he said.

"We weren't anticipating selling at this time of year, ever," he said, "because we know this is traditionally the slowest time and prices tend to drop, but we had an opportunity."

Coldwell Banker realtor Ken Pearman has observed a bit of slowdown, particularly in the $250,000 to $300,000 range, he said, but selling at this time of year is not all doom and gloom.

"If they're priced right and have good marketing behind them, they'll go," Pearman said, noting there are also advantages to selling at a slower time. "There may not be as many buyers but there's also less houses maybe on the market. So instead of looking at 10 houses, someone's going to be looking at two or three, so you don't have as much competition for your property."

Canada Mortgage and Housing Corporation data finds the city's housing market remains balanced -- neither a buyer's nor a seller's market right now -- but the last quarter of the year is usually much slower for home sales, especially compared to the third quarter, regional representative Sandra Turner said.

Third quarter figures from the housing corporation, which combine real estate listings as well as private listings throughout July, August, and September this year show 141 total sales in Yellowknife, compared to 121 sales over the same period last year.

"Q3 is usually the highest quarter," Turner said. "That's when people are moving, between the school year. When you think about it, it makes sense just in terms of the weather, it's just easier logistically during the summer."

Fourth quarter figures over October, November and December, show 73 home sales in Yellowknife last year, compared to 66 over the same period in 2009, and 65 in 2008.

"Q4s are usually about half of what Q3 is," Turner said, noting as kids return to school in September, people are prone to settle in, leading up to Christmas. "And I think that's a trend across the country.

"It's just sort of a time you start to hibernate."

The weather is a major factor why people tend to avoid buying and moving in the winter months, Sawatzky said, adding he will simply take his home off the market if it is not sold by November.

"I will not be moving in December or February," Sawatzky said. "Logistically speaking, it's really a cumbersome process."

Some homeowners are more inclined to sell below asking price, in a bid to close the deal before the winter.

"I would be willing to take an offer below asking for various reasons," said one homeowner who did not want to be named, about his recently listed downtown home. "Partly because that's just how home sales transpire and yes, it would be nice to have it sold sooner than later."

This is not the case for everyone, including Sawatzky.

"Everybody factors in, I think, a little bit of wiggle room," he said. "But we've got a number, we work with an appraiser, we know what's happening in the marketplace and, again, we have a hard and fast number and if that number isn't achieved, we simply will not sell."

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