Here’s what’s happening nowadays in our Anchorage real estate market.
Many people are curious right now about what’s going on in the real estate market, so today I’m sharing our autumn market update.
You’ve likely heard that inventory in the Anchorage municipality is currently exceedingly low; it’s the lowest I’ve seen in my 20+ year career. As of the recording of this video, we have around 243 active listings, but it changes day to day; that’s about a month’s worth of inventory. Roughly 200 homes sell per week in our area, on average. Usually, we have about three to five months of inventory, depending on the price point; the higher the price point, the higher the monthly average.
Approximately 700 homes are under contract at present, which is interesting since we have such low inventory. What’s happening is that as soon as a house hits the market, multiple offers come in for it. The homes I list these days typically sell over list price, within 72 hours, and with five to 15 offers.
If you’re a buyer out there, it might be a bit treacherous to navigate through the market these days, but if you have a great buyer’s agent, it can be done. However, buyers sometimes have to write four to six offers before they get a house under contract. Don’t get too discouraged; interest rates are still wonderful, so it’s a good time to buy—you’ll just have to work a little harder.
Today’s average sales price is $406,000 and was about $385,000 last December. Our average days on market is 20 days at the moment, but condition and location play into that number. Since, again, **most houses that are in decent condition are gone within 72 hours. **
Whether you’re a buyer or seller, we can help you. If you’re considering selling, now is the time to contact us since we’re so short on inventory. Call or email us if you have questions or are thinking about buying or selling. We’d love to speak with you.