Today I wanted to give you an update on what’s going on in our Anchorage market.
This week, I wanted to bring you up to date on what the market is doing since it’s been awhile since my last update.
Currently in the Anchorage market, we have 1,064 single-family homes listed. We have 371, or about 35%, of those listed properties that are pended, and about 2.9 months of inventory on hand. What that means is that if no more homes were listed, it would take 2.9 months for all the current inventory to be sold off.
Any inventory that sits at three months or less means that we’re in more of a seller’s market. If you’re a seller, now is a great time to get your home on the market. We’ve had a lot of multiple offer situations with listed properties that have been priced right.
In the last six months, we’ve sold 1,072 homes, which is right on par with where we were last year. Our average sales price is up to about $364,000, and sellers are getting 98.6% of what they’re asking for their home in their final offer. This is great news, as sellers are well within the recommended 5% margin.
Right now the average days on market of sold properties is around 52 days, while the average days on market for active properties is 80 days. So, why the difference? The homes that are in great condition and kept clean while they’re listed are selling much quicker.
The properties that are still active on the market aren’t getting sold because they’re overpriced, their condition isn’t that great, or accessibility is making it difficult for agents to show to potential buyers.
So what does this mean for you? If you’re a seller, now is a great time to list your home, as inventory is low and buyer demand is high. If you’re a buyer, we can help you find the home of your dreams.
If you have any additional questions about this update or you’re looking to buy or sell a home, please give a call. We’d be happy to help!