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.
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.
Thinking about buying or selling real estate in Fairbanks or Interior Alaska? We know Fairbanks real estate – Think of us as your local experts.
Hey Jesse, It just goes to show ya' The media takes localized problems and makes them national. We do have a problem in many areas but it is not all gloom and doom. It sounds like Fairbanks is doing quite well in fact. Have a good one.
Interesting stuff Jesse. Not only is your market moving, the price point is a positive. From what I've seen in your other posts, $200 - $300,000 buys you a very nice property in Fairbanks.
Jesse - those are some really great stats! I think if we continue to publish true and accurate stats from our respective areas the public might actually see the media hype for what it really is! My market is great, too - we had a blip but that was about it.
BTW - Totally off topic and a silly aside - I just have to giggle everytime I see "North Pole" as a real place!
Hi Jesse, I like that the Fairbanks market is steady for you. The pie charts and the video made the facts clear and well delivered to the audience. Being a big piano player I was probably the only one who loved the Moonlight Sonata Beethoven background music. I had never heard that with houses before.
Wow, Jesse, what a nice video presentation! My six year old made me play it three times in a row. He liked the pictures and the music. So did I. Enjoy your day. Regards, C.
Life is kicking in Alaska. Good for you. Has climate anything to do with it? (LOL). I remember people were asking me why it took me so long to try to get out of the USSR, and used to say that in the Arctic I was frozen, and it took longer to "ripen".
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Fairbanks Real Estate Outlook 
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Jesse, Congrats on the gold star yesterday... Getting to be quite a celeb... Enjoy your posts, keep 'em coming...