How is the Real Estate Market Doing in Anchorage Alaska?
by Dan Wolf
on Friday, December 20th, 2013 at 5:46am.
Following is a graph provoded by Alaska Multiple Listing Service that gives a pretty good feel for how the market in Anchorage Alaska is fairing. Generally speaking, you'll see the market was pretty flat, or not much increase in the average sale price between 2007 and 2011. Then prices rose modestly in 2012 and again the average sale price was higher in 2013.
For prices to rise, the inventory of homes on the market needs to declining. It's Supply and Demand, right? There there are lots of homes on the market, the prices won't rise because of the comitition between similar homes. There needs to be good demand for prices to increase. Buyers want to buy and they want to get as much as they can in a house for their money.
The average sale price in Anchorage is $345,000 in 2013, up from $337,000 in 2012.
So what do you get for $345,000 in a home in Anchorage? Generally speaking, you get about 1,700 square feet, a two car garage, three bedrooms and two baths. You can get more in some area's of town and less in other areas, but this gives you a general feel of the market.
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