Jesse Clifton, Broker Associate
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.
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.
Have questions? Contact us online or call us at (907) 699-6024. We would love to hear from you.