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Oops... Got that one wrong

Fairbanks Alaska Real Estate Agents Jesse & Kathy Clifton

Earlier this year I predicted the absorption rate for the Fairbanks real estate market would hit the 6-month threshold around the first of the new year. We haven't even celebrated the new year yet and I've alreday been proven wrong. I suppose it had to happen sooner or later.

With home sales slowing a little more than expected, we've seen the absorption rate climb at a pretty steady clip. As of today there are 494 homes listed for sale in Fairbanks & North Pole; only 66 sold in the past 30 days, which gives us a 7.4 month average absorption rate. I've broken down the rates for both Fairbanks and North Pole below. Nearly every segment is in a 'buyers market' (6+ months of inventory) with the exception of the 0-150K market in North Pole.

Fairbanks Absorption Rates:
0-150K: 6.75 Months
150-250K: 9.14 Months
250K-350K: 5.25 Months
350K+: 18.5 Months

North Pole Absorption Rates:
0-150K: 2.85 Months
150-250K: 3.7 Months
250K+: 13.75 Months

If your home is currently listed, it's time to take a serious look at your asking price. Buyers are evidently doing so.

Jesse & Kathy Clifton, better known as 'The Spouses' are full time Realtors serving Fairbanks Alaska buyers and sellers. They specialize in residential real estate; new and existing construction as well as undeveloped land in Fairbanks, North Pole, Ft. Wainwright, Eielson Air Force Base and Interior Alaska. Visit their website to review the fee market reports designed to keep you updated on the local Fairbanks Alaska real estate market. Have specific questions? Feel free to contact them anytime. They would love to hear from you.

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Posted by Fairbanks Real Estate Broker Jesse Clifton on 12/31/2007 01:28 PM

Comments (2)

jesse and kathy clifton, fairbanks realtors, market predictions

This post has been included in Alaska Information Fairbanks North Star County, AK Information Fairbanks, AK Information

2 Comments on Oops... Got that one wrong

Looks like we are still slower than you are. But, you may have a steadier rise, than us, when we had a year with 36% appreciation for condos. No wonder the correction will take them deeper down.

01/03/2008 12:27 AM

by Jon Zolsky (FunCoast Realty LLC)

Hi, Jon: We're still moving along... albeit slowly. We have lots of buyers, but many are very skittish about the market.

01/07/2008 10:56 PM

by Fairbanks Real Estate Broker Jesse Clifton (Jesse & Kathy Clifton, REALTORS - 907.699.6024 - )

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Real Estate Agent: Fairbanks Real Estate Broker Jesse Clifton (Jesse & Kathy Clifton, REALTORS - 907.699.6024 - )

Fairbanks Real Estate Broker Jesse Clifton
Fairbanks, AK
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Jesse & Kathy Clifton, REALTORS - 907.699.6024 -

Cell Phone: (907) 699-6024
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Jesse Clifton Real Estate, LLC Carriage House Realty

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www.The-Spouses.com

Fairbanks and Interior Alaska real estate news and information. Keep up with the latest happenings in the Fairbanks community and around the state; local real estate market trends, Fairbanks new construction, existing home sales, land acquisition and development as well as mortgage and interest rate updates.

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