A Mid-Year Market Update for Interior Alaska

We’ve got an extensive real estate market update for you today. Here are all the numbers you should know.

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I’ve got a lot of great information to share about a few different markets here in Alaska today. For the quick hits, if you go to our home page and scroll down a bit, you’ll see them. There are stats for the Fairbanks, Anchorage, North Pole, and Mat Su Valley markets on there. If you want a deeper dive, click on the “more” tab on the top of the page, where we post our weekly market trend reports. I reference them a lot in our radio show, so I invite you to download them and follow along on our next episode. 

Here are a few statistics I want to highlight specifically in the Fairbanks market as of September 3rd:
  • 186 active listings
  • Average days on market is 73
  • Average list price is $241,695
  • 101 listings under contract (pending)
  • Average sold price is $250,438
  • An average list-to-sale ratio of 98.6% 
  • 3.4 months of inventory, which puts us in a balanced market
  • The pending ratio, which shows us how quickly listed homes are going under contract, is at 35.2%

The discrepancy between homes that sold quickly and homes that didn’t is clear. It usually comes down to pricing the home right, conditioning it right, and marketing it right. Time is money, and the statistics show that. Overall, we’ve got a balanced market in Fairbanks trending toward sellers. With a pending ratio of 35.2%, I call this an active market.

Fairbanks is a very active market right now.

The North Pole market is very similar. Here are some of the numbers we’re seeing there:
  • 137 active listings
  • Average days on market is 67
  • 70 homes under contract (pending)
  • 98.8% list-to-sale ratio 
  • Average sold price is $236,344
  • Four months of inventory
  • A 33.8% pending ratio

Finally, I want to talk about the trends we’ve been seeing across the entire market. As far as units sold goes, we dropped a little from 101 to 96, but that's not too much to be concerned with. We saw a jump in the median price, from $221,695 to $226,325.

Obviously, we’ve gone through a lot of information. The crazy thing is that we have barely scratched the surface. If you have any questions or would like to have these numbers explained in further detail, we’d be happy to help. Give us a call or send us an email today and we’ll be here to help.

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