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Anchorage & Eagle River

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What Are We Seeing in the Anchorage Area Market?

Hopefully you had a great holiday season! Now that it’s 2018, it’s time for a market update.

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Welcome to 2018! I hope you and your family had a great holiday season and were able to spend some time with your loved ones. I apologize for being gone from my video blog for longer than normal; I had surgery and I’m hobbling around on crutches, so I’ve been out of the office.

Today, we’re going to talk a little bit about what our local market is doing.

Right now, we have 637 active listings, which is about 3.3 months of inventory. We have 200 pending properties at the moment, and that’s about a third of what’s out there. Pending properties mean that they’re under contract and haven’t been sold yet but are on the way to being sold.

We’ve had 160 expired properties over the last six months. There are really only three reasons why a property doesn’t sell and the listing expires: the condition, the pricing, and the location. Typically, location is the smaller percentage, with 98% of the reason being price and condition.

98% of the reason why a listing expires is price and condition.

The average sales price is a little bit higher than it was in 2016, at just under $270,000. The sellers are still getting about 99% of their last list price, as long as they’re priced appropriately.

The average days on market to be sold is 54 days, but right now in the Anchorage/Eagle River/Girdwood area, the average days on market is 123 days. Why the difference? The properties that sold in 54 days were priced appropriately and were in good condition, so buyers swept them up quickly. It’s a red flag when properties have been on the market for 123 days, usually meaning that the price and/or condition aren’t attractive to buyers. As a seller, you really control how long it takes to sell your home through those factors. 

If you are thinking of selling your home this year, now is the time to get started on it. If you’re thinking about buying, we’re going to start seeing inventory increase in February and it will be rolling pretty well by April. 

For any questions or real estate needs, feel free to give us a call. We’d love to help you.

Merry Christmas and Happy New Year

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Want to buy a home? Search all homes for sale

Merry Christmas!

We hope you and your family have a wonderful holiday.

We just wanted to take a moment to thank you for your continued support throughout the years. We wouldn’t be where we are today without your help!

It truly brings us joy to help you make your real estate dreams a reality. If you have any questions, please don’t hesitate to reach out to us. We are here to help you in any way we can.

In the meantime, have a very merry Christmas!

Don’t Be Afraid of Selling in the Winter

Don’t believe the hype; winter is a perfectly viable time to sell your home.

There are many great Anchorage area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (907) 240-2804 for a FREE home buying or selling consultation to answer any of your real estate questions.

This week we’re going to talk about selling your home in the winter.

Many people think that homes don’t sell in the winter. Surprisingly enough, you’d be amazed at the number of sales that we have in the winter.

Let’s face it—when you have to sell your home, you have to sell your home, whether it’s winter or summer. However, if you have the convenience of waiting, many people prefer to do that.

Waiting can often be a mistake. Inventories in the fall tend to drop down, and buyers have fewer choices to pick from, which can often drive the pricing up on your home that is for sale.

The other thing is that in the summertime, you typically have more showings than in the winter, but often you get a lot of what we call “looky-loos” out there shopping and half-heartedly looking around. A lot of people like to go to open houses and look at homes for remodeling purposes.

In the wintertime, you have fewer showings. However, those buyers are typically more serious. They’re not out dragging themselves through the snow because it’s fun, but because they need a home.

Do not be afraid to put your property on the market in the winter. Yes, it is slower, but property still sells.

Do not be afraid to put your property on the market in the winter.

If I can be of any help, please feel free to give me a call or send me an email. I’m happy to do a cursory walk around your property and give you some marketing tips. After all, now is the time to amp up your curb appeal to avoid having to do so with snow on the ground.

Have a great week!