Fairbanks real estate activity picked up a bit this week; sales are up 62% over last week. We've also seen an increase in the total dollar amount of sales, up 74.9% from last week. The good news continues when we look at the average sales price which rose 7.6 % to $239,030.
Now the less than stellar news. The average days on the market is still climbing. This week the average days on the market reached a high of 174. This is significant in that the current days on the market represent a 200% increase in marketing time in just one month.
The absorption rate for Fairbanks real estate is also climbing. At 11.04 months we've seen a 130% increase since mid-November.
North Pole
0-150 = 20 Months
150-250 = 7.5 Months
250-350 = 13.2 Months
350+ = N/A
Total Sales Volume Click To Enlarge
Average Sales Price Click To Enlarge
# of Homes Sold Click To Enlarge
Days on Market Click To Enlarge
Absorption Rate Click To Enlarge
January Interest Rates Click To Enlarge
Fairbanks Home Buyers - With interest rates as low as 5.5% and an abundance of homes for sale, this could be a great time to jump into the market. Home Prices are still appreciating, albeit not at the rate of the past few years, the average Fairbanks home had held its value. Bear in mind that although the market has slowed, not all sellers are desperate. Some homes you will look at are in fact priced at market value. Contact us and we will provide you with a market analysis to help evaluate a property you're interested in.
Fairbanks Home Sellers - There are buyers active in the market. They will be looking at your home and the numerous other homes for sale in your price range. If you want to sell your home, pricing is critical. You'll hear me say this often. It is that important. If you're preparing to place your home on the market, call us. We can help position your home to sell, not simply languish on the market. Request a free market analysis to find out your homes current market value.
Jesse & Kathy Clifton, better known as 'The Spouses' are full time Realtors serving Fairbanks Alaska buyers and sellers. They specialize in residential real estate; new and existing construction as well as undeveloped land in Fairbanks,
North Pole, Ft. Wainwright, Eielson Air Force Base and Interior Alaska. Visit their website to review the fee market
reports designed to keep you updated on the local Fairbanks Alaska real estate market. Have specific questions? Feel free to contact them anytime. They would love to hear from you.
Fairbanks and Interior Alaska real estate news and information. Keep up with the latest happenings in the Fairbanks community and around the state; local real estate market trends, Fairbanks new construction, existing home sales, land acquisition and development as well as mortgage and interest rate updates.
Fairbanks Ak Real Estate Broker Jesse Clifton
;)
;)
Jesse & Kathy,
...now if only the temperature will rise as well... LOL
Mike in Tucson