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.

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

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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.

What’s Happening in the Anchorage Market?

It’s time for another quick market update for the Anchorage area.

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.

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.

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If no other properties went on the market today, we'd have enough housing available for roughly three months.

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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!

Anchorage Real Estate Market Update

Today I wanted to give you an update on what’s going on in our Anchorage market.

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) 865-6404 for a FREE home buying or selling consultation to answer any of your real estate questions.

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.

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If you’re a seller, now is a great time to get your home on the market.

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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!

What’s Been Happening in Our Market Lately?

The Feds are raising interest rates once more next week, which means if you’re a seller in our market, the time to act is now.

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) 865-6404 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today I want to share a quick market update with you. 

As you know, the Feds have announced they will raise interest rates again. They’re predicted to raise them next week, and the margin is predicted to be 0.25%. Right now, rates are at about 4.25%, which means after next week they’ll settle at 4.5% for the time being. In the middle of last December, they were at 3.88%. 

What does this mean to you if you’re thinking about selling your home? When interest rates go up, prices drop. The average sale price in the Anchorage/Eagle River/Girdwood area has dropped from $366,000 at the beginning of the year to $341,000. That’s a drop of about 6.7%, one of the largest we’ve seen in a long time.

Keep in mind that we’re also in the slow quarter, so some of this is a result of the time of year. Hopefully, that will level out as the year progresses. If you’re thinking about selling your house, don’t wait. Do it before these interest rates rise again and values go down. 

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If you’re thinking about selling your house, don’t wait any longer.

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If you have any questions or are thinking about putting your home on the market, please feel free to give me a call. I’d be happy to help you!

Anchorage Area Market Update

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) 865-6404 for a FREE home buying or selling consultation to answer any of your real estate questions.

The question of the year seems to be, “What is our market doing, how is our economy doing, and how is that affecting our housing market?” Today I’m going to talk about the Anchorage-Eagle River market stats and update you on where we are today versus last year.

This year’s total active listings compared to last year show that we’re up about 16%, which is not horrible. This just means that the buyers have about 16% more homes to look at and choose from. If you’re a seller it means that you need to be on top of your game and your house needs to look better than everybody else’s.

The good news is that our sales are not down by that much - only 6% compared to where they were this time last year. Our average sales price right now is down about 2% - it was $364,000 last year and we’re at $358,000 this year. Our average days on market figure is showing slightly less, which is great news if you’re a seller. In that respect, we went from roughly 86 days to 67 days. And finally, our list-to-sales price is about the same, as the sellers are getting somewhere between 98% and 99% of asking price.

If you have any further questions, please feel free to give me a call. My number is 907-240-2804. Or you can contact me via email at dar@darwalden.com.

Anchorage Market Snapshot

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) 865-6404 for a FREE home buying or selling consultation to answer any of your real estate questions.

Anchorage Market Snapshot

Despite having 10% less available inventory than this time last year, we have a pretty stable market here in Anchorage. Active pending home sales are also down because of this decrease in inventory. Here are some other trends we've seen this year:

• Average home sales price is around $365,000, a 4.2% increase since last year.
• The average seller is getting 97% of the original listing price. 
• Homes are sitting on the market for average of 81 days.
• Interest rates are still great. A 30-year fixed-rate is still around 4.2% and FHA and VA rates are at 3.7%.

Now is a great time to buy or sell a home in our area. We're not sure how long interest rates are going to remain this low - take advantage of them now to save down the road. For sellers, we're seeing homes sell quickly and for top value if they are priced correctly and in good condition. If you have any questions about conditions in your particular area, we would love to help you out. Give us a call or shoot us an email for the best real estate resources available.

Anchorage Real Estate Market Update for Summer 2014

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) 865-6404 for a FREE home buying or selling consultation to answer any of your real estate questions.

Anchorage Real Estate Market Update for Summer 2014

We are halfway through the year so now is a great time to give you a real estate market update about what's been going on in Anchorage.

•  The Anchorage market is a little different right now than what we have seen historically. Usually when we have low inventory, that typically signals we are in a sellers market, but that is not necessarily what we are seeing right now.
• We currently have over 700 homes on the market available to purchase, which comes out to about 3.75 months of inventory on hand. 
• What does this mean to you? Well in our heavy seasons we have had anywhere from 12-15 months of inventory, so we are definitely at a much lower inventory than we are used to.
• The average sale price of a home in Anchorage is $355,000 and the average days on the market for a home is about 67 days.
• Properties on the market that are priced correctly are selling quickly, but overpriced homes are staying stagnant on the market. Properly priced homes are also getting multiple offers.

Overall, this is a good market, but not quite as booming as it should be. Sellers are benefiting from low inventory and an increase in sale prices while buyers, although with limited options, interest rates are as good as they have been in a long time and now is a great time to lock in a rate. If you have any questions about the market or are looking to buy or sell real estate in Anchorage, please give us a call or send us an e-mail. We would love to help out!