According to the latest numbers, we’re in a firm seller’s market.
If you’re thinking of selling your home in our Anchorage Valley real estate market, the numbers say now’s the time to do so.
First of all, inventory is extremely low. Specifically, it’s dropped 30% year over year, which puts us in a seller’s market. We typically don’t see a big swing from a buyer’s market to a seller’s market and usually maintain a three- to four-month supply of inventory, but now we’re down to just 1.7 months. If you’re looking for a home in the $400,000 to $425,000 price point, there are fewer than 20 left on the market.
As long as a home is priced right and in good condition, it will get multiple offers once it’s listed. We’re heading into the winter season where activity typically slows down, but demand is still there, so I highly suggest getting in touch with my team if you’re planning a move soon.
Though the number of new listings has plummeted, the number of units sold has increased by 25% to 30% year over year, which doesn’t make much sense, but alas. Homes that have been sitting on the market in the past are now selling, so if you’ve had trouble getting your home sold, you need to have a conversation with your agent because there’s likely something wrong with its price or condition.
Lastly, the average price has jumped 5% in the last six months. Year over year, it’s gone from $374,000 to $393,000.
Like I said, now is the time to list your home if you want to maximize your sale price. My team and I sell about 600 homes a year, so we’d love the opportunity to help you sell quickly and hassle-free. If you’d like to get started or have any other real estate questions, feel free to call or email me. I look forward to hearing from you.