In the Anchorage AK real estate market, residential real estate prices are trending upward as inventory remains low, especially in the mid-price range. In fact, the average price of Anchorage AK homes for sale increased by 4.8 percent in 2012, the largest jump since 2006.
Prices have continued to rise throughout 2013. The Anchorage AK real estate market is currently experiencing continued gradual but steady growth, with a 0.32 percent increase in price -- bringing the residential average asking price to $354,871 and the average sales price to $344,273 as of July 2013. The most significant price growth has been in the $250,000 to $300,000 price range, where prices have increased by 20 percent from 2012 prices.
In the Anchorage AK real estate market, homes at the $300,000 price point are considered "starter homes"; the inventory for homes in this price range has remained low through 2013. Anchorage AK homes for sale priced at $400,000 or less are generally experiencing multiple offers and generally selling within two weeks to 30 days.
Anchorage is Alaska's largest city; more than 298,000 people call Anchorage home. Of the city's more-than 105,000 households, about 64 percent of residents own their own homes and the median household income as of 2011 was $75,485. The 2011 U.S. Census estimates that the median value of residential units in the Anchorage AK real estate market was $276,200.
In a 2012 overview of Anchorage AK real estate trends, the municipality noted that it expects increasing demand for homes in the mid-point price range to continue as the population grows. The city's popularity isn't hard to understand; its beautiful setting between Cook Inlet and the Chugach Mountains means that year-round recreation, such as fishing, skiing and hiking, is just a short drive away. After a day spent enjoying the outdoors, Anchorage's metropolitan downtown offers big-city amenities, from shopping and eateries to cultural events and nightlife.
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Listing information last updated on March 31st, 2023 at 4:49am AKDT.