Anchorage Real Estate Market Stable

By
Real Estate Agent with Dynamic Properties

Anchorage real estate has been strong compared to most other markets. The impact of stressed properties can be felt, but are not as significant as nationwide. Case -Shiller says the home prices nationwide fell 4.2% in the first quarter compared to last year's first quarter. According to the Alaska Multiple Listing Service the median sale price for Anchorage homes sold in the first quarter of 2011 was $284,000. This was down 2% compared to 2010 first quarter. The number of sold residential listings was up 5%. Buyers and sellers in Anchorage can expect prices to be flat. As of March 2011 there was a 4.2 months supply of homes for sale, which indicates a sellers market. A six month supply is considered balanced. For buyers this means most homes are not selling for a significant discount. It also means when they find a property they want they should move fast. For sellers, this means that properties that are priced, marketed, and staged properly are selling. For residential property the average days on market is 82, which is 5% faster than last year.  It seems that under $500,000 properties are moving. Over $500,000 seems to still be soft and sellers should price aggressively to attract offers. If you know someone looking to buy or sell in Anchorage or Eagle River feel free to contact me. 

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