Today, we’re here with your Alaska real estate market update. From Anchorage to Fairbanks, Alaska is in a firm seller’s market. What does this mean for you? Watch this short video to learn more!
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Wes Madden, CEO
Madden Real Estate
728 Gaffney Rd #100
Fairbanks, AK 99701
Today, we’re here with your Alaska real estate market update.
First off, in Anchorage the market is down to 663 active listings. The sales pending ratio is upwards of 39.2%, which means houses are selling at a reasonable pace. It is still a seller’s market with only 2.3 months of inventory. The average number of days on market is climbing slightly, but you can expect Anchorage to remain in a seller’s market throughout winter.
The same sort of thing is happening in the Matanuska-Susitna Borough. Active listings are down to 507. The number of days on market is over 100 days, so houses are hanging out on the market a little longer but things are still selling at a reasonable rate, with a 39% pending rate. The good news is the list to sales price ratio is 99.2%. Values in this area look really good. The average sales price is over 7,000. We do have only 3 months of inventory, so it is a seller’s market here as well.
Fairbanks is down to 131 active listings. Out at North Pole, the number of active listings is even lower, with only 90 properties on the market. There are 2.1 months of inventory available. Values are increasing nicely, and both areas have a 37% pending rate, so homes are still selling.
The common theme across Alaska is clear: we need more listings. Buyers are getting frustrated because they can’t find what they’re looking for. Some of these buyers might settle for rental or government-placed properties.
If you’re thinking of selling in the next twelve months, contact us now. We show our buyers a ‘Coming Soon’ list, and your home could be exactly what they are looking for. If you want to sell quickly in June, we can help make that happen.