It’s time for another quick market update for the Anchorage area.
It’s time for another market update for the Anchorage area.
Right now we have about 1,000 properties on the market, 35% of which are already under contract. About 360 properties have buyers who have written contracts on them.
We have close to 2.9 months of inventory on hand; if no other properties went on the market today, we’d have enough housing available for roughly three months. This is a very healthy level, and is considered more of a seller’s market, though that’s not what we’re seeing in the economy today. It’s been very give-and-take: the buyer gives a little, the seller gives a little, and everyone walks away happy.
The average sales price for the area is around $360,000. Sellers are getting about 99% of the last list price.
The average days on market of what homes sold is about 43 days, and the average days on market of what’s currently active is about 84 days.
The discrepancy between the two figures is due to the fact that the properties that are on the market right now usually have had longer marketing times because we have many homes out there that are overpriced, or the condition of the home doesn’t warrant the price. The active days will typically always be longer than the days sold. If the property is in good condition, it’s going to sell quickly.
If you have any other questions, or you’d like to talk with me, please feel free to give me a call or send me an email. Have a great week!