Fairbanks Alaska Real Estate Review - 6/22/2008 - 6/28/2008

Real Estate Broker/Owner with Jesse Clifton & Associates, REALTORS® AREC License #15292
Fairbanks Real Estate - Week in Review - 6/22/2008 - 6/28/2008
Jesse Clifton, Broker Associate

Fairbanks Alaska Real Estate For Sale Do you remember the story about the little engine that could? Just like that little engine the Fairbanks real estate market is surviving the housing slump that has derailed many real estate markets around the country.

For the week of June 22-28, 18 homes closed escrow. The majority of those (67%) continue to be sales in North Pole, although interestingly, they aren't new construction homes. New construction represented less than 1% of homes sales this week.

Days on the market dropped somewhat this week from 131 to 102 days. In a recent post I delved a little deeper into the Fairbanks days-on-market stats and found some interesting stats. This week 33% of Fairbanks homeowners saw their home sell in under 30 days.

Keep that in mind if you're shopping for a home. Homes priced correctly and in good condition are selling... and in some cases they're selling quickly.

The average sales price came in this week at $220,251. That's a whopping 19.2% increase over this time last year. We've even beat the year-to-date average for 2008 of $211,692.

The Fairbanks real estate market may not be setting any world records, but we are moving forward. If you're in the market to purchase a home, this could be a great time.

Ready to find your piece of The Last Frontier? Contact us online or call 907.699.6024. We are your local Fairbanks real estate experts.

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 – Jesse and Kathy are your local Fairbanks real estate 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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Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Hi Jesse, I very much like your encouraging reports on housing in your area and that things are steady for you. Those of us outside your far north Alaska climes always love that there really is a town called North Pole. DOM coming down and some houses selling so quickly is great. I wish you continued healthy economic success.

Jun 30, 2008 07:19 PM #1
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

Good morning Jesse, Good to hear that your market is doing well. As I said in a post not too long ago, real estate is a local thing...

Jun 30, 2008 07:51 PM #2
Don Rogers
Keller Williams Realty Chesterfield - O'Fallon, MO
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes


I am glad to see that things are improving there in Fairbanks.  These reports are sure to help everybody see that there are good markets all over and more on the way.

Thank you sir for the update.

Don R.

Jun 30, 2008 09:50 PM #3
Adam Waldman
Westcott Group Real Estate Company - Hauppauge, NY
Realtor - Long Island

JESSE - Hopefully, Fairbanks homebuyers that have been sitting on the fence will read this and realize that, while the national trend may be down, Fairbanks is not waiting around for the rest of the nation to start rising.  BTW, the house in the photo is beautiful.

Jun 30, 2008 10:23 PM #4
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Is that a mailbox in the front yard? What is that thing? I'm so used to getting mail dropped right into my entry way closet -- if I had to walk to the street to get it, it would probably sit in my box for a while. If it is a mailbox, isn't it supposed to have a flag?

elizabeth weintraub sacramento real estate agent

Jul 01, 2008 03:03 AM #5
Mesa, Arizona Real Estate Mesa Arizona Realtor
Homes Arizona Real Estate LLC - Mesa, AZ

Jesse, sounds like your market is doing well. North Pole? Is that a community or a city? Love the look of your property though.......;-)


Jul 01, 2008 12:43 PM #6
Colleen Fischesser Northwest Property Shop
RE/MAX Advantage | Managing Broker - Chelan, WA
A Tradition of Trust in the Pacific NW since 1990!

Now why is it so funny to me that you're closing sales at the North Pole? I will respectfully refrain from making Elf & Santa jokes here. (But it's really hard!)

Jul 01, 2008 02:55 PM #7
Jesse & Kathy Clifton
Jesse Clifton & Associates, REALTORS® - Fairbanks, AK

Gary - Thanks... as you know, you can find a silver lining in just about any news.  We're not screaming forward, but still moving forward is what really counts.

Michael - Morning buddy.  Real estate is very local although I'm hearing from more and more that things are picking up.  I would love for that to be a major trend in the making.

Don - There are definitely good markets around the country.  Even in some of the hardest hit areas... Elizabeth Weintraub in Sacramento has been telling folks how crazy busy the market is there.  Let's move this forward trend national...

Adam - We're not moving at the pace we were in '05/'06 but at least it's forward.  Buyers would do well to jump off the fence. 

Elizabeth - It's a lamppost/mailbox.  No foot delivery here so in the box it goes.  It should have a flag. Wonder if the inspector will catch that? :)

Teri - North Pole is a city roughly 12 miles southeast of Fairbanks.  It's a bedroom community if you will for Fairbanks.

Colleen - Well, at least you didn't say I could play the part of Santa the Realtor.  All I need is a couple more white hairs and I'm ready...

Jul 01, 2008 08:08 PM #8
Jim Johnson CRS

Great Blog!  I have been selling real estate in Bend Oregon since 1981 and find it refreshing to find a helpful blog like yours!  Keep up the good work!


Jul 05, 2008 03:17 AM #9
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