Prices in the Palmer Alaska real estate market are holding steady, while home values continue to climb. From 2012 to 2013, sale prices in the Palmer market have been steady, dropping only slightly from an average price of $231,988 to $231,451, or a difference of 0.23 percent. During the same time period, home values have risen steadily in Palmer, increasing 9.8 percent to an average home value of $272,300 in July, 2013.
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In 2013, homes for sale in Palmer AK spend an average of 79 days on the market before they sell; that's the same length of time as 2012, but represents a welcome decrease from previous years. The Palmer Alaska real estate market also reflects an upward trend in total sales volume over the past few years; from 2012 to 2013, the total volume of homes sold increased by 25.55 percent.
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Just over 5,900 people call Palmer home. The median household income in Palmer is $61,568, slightly lower than the state average. At 8.6 percent, Palmer's unemployment rate is on par with the national average. However, Palmer has experienced job growth in recent years and is projected to experience significantly greater growth -- more than 33 percent -- in the future. The Palmer real estate market reflects these trends with its pattern of slow, steady growth. Homes for sale in Palmer AK currently have an average listing price of $290,787, a 2.5 percent increase over last year, and a median sales price of $182,750, an increase of 5.7 percent.
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The town is conveniently located 42 miles northeast of Anchorage, Alaska's largest city. Many Palmer residents commute to Anchorage for work but choose to live in Palmer for the town's scenic setting in the Matanuska Valley, which is also the state's agriculture center. Palmer residents enjoy easy access to both the great outdoors and the amenities offered in town, from restaurants and bars to museums to malls. The Palmer Alaska real estate market is projected to continue its gradual, yet steady, upward trend.
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Listing information last updated on August 14th, 2020 at 2:49pm AKDT.
