March data on the Anchorage housing market shows growing optimism and confidence among potential Anchorage sellers. Realtor.com's March 2013 data indicates that while national housing inventory decreased 15.22 percent since last year, the number of listings increased 2.36 percent since February 2013. This month-over-month increase indicates a renewed willingness in sellers to put their homes on the market as list prices increased .05 percent both year-over-year and month-over-month to a national average list price of $190,000. The data also showed that the median age of inventory dropped to 78 days—a decrease of 20.41 percent since February.
A month-over-month inventory increase of 2.36 percent reflects a rise in new property listings since February 2013, but there are drastically fewer homes on the market compared to this time last year (15.22 percent less). While the median age of housing inventory continues to decline year-over-year by 12.35 percent, the amount of time houses are sitting on the market has decreased dramatically by 20 days since February, suggesting that a broad-based housing recovery is beginning to take hold.
A new trend in median list price has emerged in 2013. Since the beginning of the year, a growing number of the 146 markets realtor.com monitors have experienced an increase in list price year-over-year, while the number of markets that have experienced a list price decrease since last year declined. The March data shows that out of the 36 markets that registered a year-over-year decrease in median list price in the month, only six markets had a decline that was more than 5 percent, implying that these markets appear to be within easy striking distance of experiencing house price appreciation in 2013.
Anchorage Real Estate Statistics
Anchorage Housing Market
The Anchorage real estate housing market has gained about 4% from the previous year. If an estimated cost to sell a house is 9% of the sales value, holding time is a little over two years. Though there is one area near JBER base that has not seen the amount of appreciation, as other areas in Anchorage. Most of our discussions with JBER military is the time they are here in Anchorage and will appreciation cover their costs to sell their Anchorage or Eagle River home. Based on the numbers the time to sell an Anchorage home has fallen from 71 days on market to 60 days on market. The days on market really conveys how much trust an owner has with their agent establishing price and the Anchorage REALTORs experience in determining market value. Inventory versus demand is STILL the driving key to the Anchorage residential market. All price points, except over 1M, are on the Sellers side of negotiating price.
Number of Anchorage Area Home Short Sale Property - 17
Number of Anchorage Area Home Foreclosure, Bank Owned & HUD Property - 37
Anchorage Condominium Market
The Anchorage real estate condominium market has not fared as well on appreciation. Overall prices have fell 2% for 2012, although supply and demand does not show an over high number of units flooding the Anchorage real estate market. Anchorage condominium buyers really have to watch their long term plans for purchasing. Since supply is still low, interest rates are AWESOME and other indicators show an improving market 2013 should show some improvements.
Anchorage Condominium Short Sale Property - 5
Anchorage Area Condo Foreclosure, Bank Owned or HUD Property - 12
Lonnie Logan
Anchorage REMAX
(907) 903-1221
