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Fairbanks, Alaska Real Estate - Market Report

As much as it will surprise many buyers, and a few sellers, parts of the Fairbanks market are starting to strongly favor sellers.

 A limited inventory of homes for sale is causing buyers to scramble for, and in many cases, compete with other buyers for homes. I've talked to no less than 7 or 8 agents in the past couple of weeks who say their clients lost 'the house' because of multiple offers. It's true. Multiple offers are alive and well in Fairbanks.

North Pole, for example, has seen a marked decrease in the number of homes for sale. New(er) 3 and 4 bedroom homes under $250,000 in good condition are very much in demand. As of this writing, there are 13 homes for sale priced between $200,000 - $250,000 (the median market for North Pole). Of those, 11 have been on the market less than 60 days. 63% of the ($200-250K) homes sold in North Pole since March 1st spent less than 22 days on the market. The marketing time for Fairbanks homes trends somewhat higher, but is declining.

Overall, the trends for March are good news.

Average Sales Price - UP

Average Days on the Market - DOWN

Homes Sold - HOLDING STEADY

List to Sales Price Ratio - UP

Average Sales Price

Homes Sold
Days on Market
Discount from List Price

Is this a good time to buy Fairbanks real estate? Absolutely. Prices have come down, seller concessions are available and as of this morning a 30 year fixed rate loan will cost you 4.625%. Call or contact us online today to start the search for your piece of the Last Frontier.

 
This post has been included in Alaska Real Estate News Fairbanks North Star County, AK Real Estate News Fairbanks, AK Real Estate News
Post is included in group: Alaska - Real Estate In The Last Frontier
Post is included in group: City & State: Listings and Market Reports
Post is included in group: Local Expert
Post is included in group: Posts to Localism

4 Comments on Fairbanks Ak Real Estate - Market Report

APR
15
2009
662,563 Points 113 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Very good news I have to say! Hope it moves south east...
3:12pm • #1
469,990 Points 10 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I love good news, thanks for sharing.
3:53pm • #2
APR
25
2009
227,064 Points 25 Featured Posts

Hello Cliftons - Decided to take a look at the most subscribed bloggers in Alaska.  I wasn't disappointed.  I like the format for your market reports.  I am curious how you do them because I really like the graphics and how the information is displayed.
3:18am • #3
MAY
06
2009
1,400,137 Points 109 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Jesse and Kathy, This is great.  Sounds like things are turning around in Alaska in the market.    Now if you could send that fair weather for real estate south, it would very much be appreciated by all.
6:36am • #4

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Fairbanks Alaska Real Estate Specialists Jesse & Kathy Clifton 907-328-9328

Fairbanks, AK

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Jesse Clifton & Associates, REALTORS®

Address: 250 N. Cushman Street, Suite 4G, Fairbanks, AK, 99701

Office Phone: (907) 699-6024

Cell Phone: (907) 328-9328

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Fairbanks ak real estate

Looking for Fairbanks and Interior Alaska real estate news and information? Well, you're in the right spot. Keep up with the latest happenings in the Fairbanks community and around the state; local real estate market trends, propety listings, mortgage news and a healthy dash of commentary on whatever strikes my fancy.

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