Fairbanks Real Estate Outlook Jesse Clifton, Broker-Associate
Are you falling for the hype? Much is still being made in the national news about the slowdown in the housing market. It seems as though you can't turn on the news without hearing about rising foreclosures, default rates and slow housing starts.
But is it really that bad here in Fairbanks? Not hardly.
The Fairbanks real estate market might not be moving at a breakneck pace but it's far from standing still. In fact there are some segments of the Fairbanks market that are still attracting multiple offers.
Homes in good condition that are priced correctly are selling. We've heard from several buyers recently who were shocked to find out their offer wasn't accepted because the offered price was too low or because another buyer wrote a better offer.
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Fairbanks real estate is still moving forward.
In looking at a snapshot of the market more than 62% of the homes sold in the past month sold in less than 60 days. 39% of the sales occurred in less than 30 days. Of the 140 homes currently in escrow in both Fairbanks and North Pole, 55% were sold in under 60 days. 71% of the current pending sales occurred after spending less than 90 days on the market. That's not what I would call a market in crisis. |
Bottom line.... Don't fall for hype - Get the facts! If you're in the market to buy, soft prices and a full inventory could mean this is a great time to get off the fence and into a new home. Contact us online or call 907-699-6024 to find your piece of the last frontier.
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Search Fairbanks homes for sale, sign up for free new listing notifications, view Fairbanks market statistics or browse our virtual relocation package. Have questions? Contact us online or call us at (907) 699-6024. We would love to hear from you. |
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