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Fairbanks Alaska Real Estate - Home Sales Moving forward

Jesse and Kathy Clifton Spouses Selling Houses

Fairbanks Real Estate Outlook
Jesse Clifton, Broker-Associate

Are you falling for the hype? Much is still being made in the national news about the slowdown in the housing market. It seems as though you can't turn on the news without hearing about rising foreclosures, default rates and slow housing starts.

But is it really that bad here in Fairbanks? Not hardly.

The Fairbanks real estate market might not be moving at a breakneck pace but it's far from standing still. In fact there are some segments of the Fairbanks market that are still attracting multiple offers.

Homes in good condition that are priced correctly are selling. We've heard from several buyers recently who were shocked to find out their offer wasn't accepted because the offered price was too low or because another buyer wrote a better offer.

Fairbanks real estate is still moving forward.

In looking at a snapshot of the market more than 62% of the homes sold in the past month sold in less than 60 days.

39% of the sales occurred in less than 30 days.

Of the 140 homes currently in escrow in both Fairbanks and North Pole, 55% were sold in under 60 days. 71% of the current pending sales occurred after spending less than 90 days on the market. That's not what I would call a market in crisis.

Bottom line.... Don't fall for hype - Get the facts! If you're in the market to buy, soft prices and a full inventory could mean this is a great time to get off the fence and into a new home. Contact us online or call 907-699-6024 to find your piece of the last frontier.

Jesse and Kathy Clifton Fairbanks Real Estate Professionals

Thinking about buying or selling real estate in Fairbanks or Interior Alaska? We know Fairbanks real estate – Think of us as your local experts.

Search Fairbanks homes for sale, sign up for free new listing notifications, view Fairbanks market statistics or browse our virtual relocation package.

Have questions? Contact us online or call us at (907) 699-6024. We would love to hear from you.

Posted by Fairbanks Real Estate Broker Jesse Clifton on 06/25/2008 04:01 AM

Comments (13)

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13 Comments on Fairbanks Alaska Real Estate - Home Sales Moving forward

Jesse, Congrats on the gold star yesterday... Getting to be quite a celeb... Enjoy your posts, keep 'em coming...

06/25/2008 04:39 AM

by Michael Thornton - Nashville, TN area Home Inspector (Complete Home Inspections, Inc.)

Hey Jesse, It just goes to show ya' The media takes localized problems and makes them national. We do have a problem in many areas but it is not all gloom and doom. It sounds like Fairbanks is doing quite well in fact. Have a good one.

06/25/2008 04:49 AM

by Paddy Pizappi PineBush & Hudson Valley NY Real Estate (RJ Smith Realty Real Estate Solutions)

Jesse,

It looks like your market is pickin up, good on you sir.

BTW, I bet that you hav been asked this question at least once so I will ask it again,is your market seasonal there?

Don R.

06/25/2008 07:12 AM

by Don Rogers CRS, GRI, Broker/Sales Associate (RE/MAX Discover)

These are numbers I should look at, too, Jesse. It does look more positive that the surface numbers!

06/25/2008 07:28 AM

by Margaret Woda, Maryland REALTOR (RE/MAX VISION)

Interesting stuff Jesse. Not only is your market moving, the price point is a positive. From what I've seen in your other posts, $200 - $300,000 buys you a very nice property in Fairbanks.

06/25/2008 07:45 AM

by Debbie DiFonzo, United Country VIP Realty, SW Missouri

Jesse - those are some really great stats! I think if we continue to publish true and accurate stats from our respective areas the public might actually see the media hype for what it really is! My market is great, too - we had a blip but that was about it.

BTW - Totally off topic and a silly aside - I just have to giggle everytime I see "North Pole" as a real place!

06/25/2008 07:57 AM

by Leesa L. Finley, REALTOR® (Circa Properties)

Hi Jesse, I like that the Fairbanks market is steady for you. The pie charts and the video made the facts clear and well delivered to the audience. Being a big piano player I was probably the only one who loved the Moonlight Sonata Beethoven background music. I had never heard that with houses before.

06/25/2008 08:27 AM

by Gary Woltal - REALTOR® Dallas Ft. Worth (Keller Williams Realty)

Wow, Jesse, what a nice video presentation! My six year old made me play it three times in a row. He liked the pictures and the music. So did I. Enjoy your day. Regards, C.

06/25/2008 08:50 AM

by C Tann-Starr (TannStarr.com TannStarr.ws REMAX People Realty)

Jesse those are some strong stats for your market! Glad to see things are still moving up there!

06/25/2008 09:09 AM

by Jeremy Blanton- Myrtle Beach Real Estate ,Coldwell Banker Chicora (Coldwell Banker Chicora Real Estate)

Jesse, this is very well done. I'm very glad to hear the market is good for you up in Alaska. Nice work.

06/25/2008 12:03 PM

by Susan Mangigian, West Chester PA Realtor RE/MAX Preferred, ABR (RE/MAX Preferred, West Chester, PA, RS152252A)

Jesse,

Business is not booming like 2002 & 2003, but it really is picking up and we've been busy right along!!! Thanks, Fran

06/25/2008 02:10 PM

by Fran 'The Title Man' Gaspari Title Insurance-PA & NJ (Patriot Land Transfer, Inc.)

Hey, when I clicked on the comments, the music stopped. Drats!!

But your stats look good.

06/25/2008 02:56 PM

by Elizabeth Weintraub, Sacramento Real Estate Broker (Lyon Real Estate)

Life is kicking in Alaska. Good for you. Has climate anything to do with it? (LOL). I remember people were asking me why it took me so long to try to get out of the USSR, and used to say that in the Arctic I was frozen, and it took longer to "ripen".

Good luck

06/25/2008 11:16 PM

by Jon Zolsky (FunCoast Realty LLC)

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