Fairbanks Alaska Real Estate - Home Sales Moving forward

By
Real Estate Broker/Owner with Jesse Clifton & Associates, REALTORS® AREC License #15292
Jesse and Kathy Clifton Spouses Selling Houses 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.

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.

Fairbanks Alaska Real Estate Fairbanks Alaska Real Estate

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.


Jesse and Kathy Clifton Fairbanks Real Estate Professionals Thinking about buying or selling real estate in Fairbanks or Interior Alaska? We know Fairbanks real estate – Think of us as your local experts.

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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TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
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Jesse, Congrats on the gold star yesterday... Getting to be quite a celeb... Enjoy your posts, keep 'em coming...

Jun 24, 2008 09:39 PM #1
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Paddy (Patricia) Pizappi
Better Homes and Gardens Rand Realty - Pine Bush, NY
Real Estate Associate Broker Hudson Valley NY

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. 

Jun 24, 2008 09:49 PM #2
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Don Rogers
Keller Williams Realty Chesterfield - O'Fallon, MO
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes

Jesse,

It looks like your market is pickin up, good on you sir.

BTW, I bet that you hav been asked this question at least once so I will ask it again,is your market seasonal there?

Don R.

Jun 25, 2008 12:12 AM #3
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Margaret Woda
Long & Foster Real Estate, Inc. - Crofton, MD
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These are numbers I should look at, too, Jesse.  It does look more positive that the surface numbers!

Jun 25, 2008 12:28 AM #4
Rainmaker
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Debbie DiFonzo
Debbie DiFonzo - United Country VIP Realty, SW Missouri - Lebanon, MO
Lebanon MO and Buffalo Missouri Real Estate

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.

Jun 25, 2008 12:45 AM #5
Rainmaker
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Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

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!

Jun 25, 2008 12:57 AM #6
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Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

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.

Jun 25, 2008 01:27 AM #7
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C Tann-Starr
Tann Starr & Associates, Inc. - Palm Bay, FL

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.

Jun 25, 2008 01:50 AM #8
Rainmaker
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Jeremy Blanton
Myrtle Beach Homes Blog - Myrtle Beach, SC
Myrtle Beach REALTOR®- myrtlebeachhomesblog.com

Jesse those are some strong stats for your market!  Glad to see things are still moving up there!

Jun 25, 2008 02:09 AM #9
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Susan Mangigian
RE/MAX Preferred, West Chester, PA, RS152252A - West Chester, PA
Chester & Delaware County Homes, Delaware and Ches

Jesse, this is very well done.  I'm very glad to hear the market is good for you up in Alaska.  Nice work.

Jun 25, 2008 05:03 AM #10
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Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ

Jesse,

Business is not booming like 2002 & 2003, but it really is picking up and we've been busy right along!!! Thanks,   Fran

Jun 25, 2008 07:10 AM #11
Rainmaker
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Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Hey, when I clicked on the comments, the music stopped. Drats!!

But your stats look good.

elizabeth weintraub sacramento real estate agent

Jun 25, 2008 07:56 AM #12
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
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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".

Good luck

Jun 25, 2008 04:16 PM #13
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