Real estate market data for Kodiak, Alaska provided by Katrina Benton of Keller Williams Realty Alaska Group.
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Kodiak Home Prices
We have seen several months of selling price increases on home prices in Kodiak and don’t expect things to slow down anytime soon. If you are considering buying a home you can still find deals on a house in Kodiak but having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long, many of our listings are starting to sell within a few days of hitting the market. As you can see from the graph below, listings are not selling exactly for asking price, and often they sell for more. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Kodiak home on which you are making an offer.
If you are interested in how much current inventory is on the market in Kodiak you can find that information by clicking on the link. High inventory will suggest that homes are sitting on the market for longer. Currently in this area of Kodiak, homes have a median time of 51 days on the market before they sell. This would suggest that buyers are in a great position to make an aggresive offer on a home. Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers. Low inventory in Kodiak has multiple offers coming in on homes similar to what we saw back in 2007. I wouldn't expect home prices to run up quite as fast as they did back then as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. But low inventory is one indicator that prices should continue to rise.
Kodiak Real Estate Report Summary
The median list price in May for single family homes in Kodiak (99615) is $291,560. The list prices increased from the previous month.
The number of active listings in Kodiak (99615) decreased by 16.7% from the previous month.
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Thank you for reading about Home Prices in Kodiak AK for May 2016.