Alaska Real Estate Update Feb 13-20, 2023 Our inventory is still dropping. From a low inventory to a lower inventory. There are very few houses are out there for buyers. Out of all the houses listed in the last week only 11 are available to show. One of the factors in this market is that buyers who are looking for a home are competing with investors who are looking for long-term income. The investors are buying single family homes for short-term rentals. Investors are also competing heavily in the multi family market. A foreclosure duplex came on the market last week for $480,000. This had 3 bedrooms on each side and was a pretty nice duplex. There were more than 30 showings in 3 days and at least a dozen offers. Honestly, I don’t think this place will generate a positive cash flow for a few years yet. But investors are looking for a place to park money. I do anticipate the inventory coming up by the end of March, but if you are planning to sell this spring I wouldn’t wait if I were you. Call us if you want to sell or buy a house. Just go to our contact page here: https://valleymarket.com/meet-the-valley-market-team/
. See All our listings here: https://valleymarket.com/featured-valley-market-listings/
. PS I mentioned a link to sign up for the market memo…here: https://vid.us/g13q9h
This representation is based in whole or in part on data supplied by, and to, the subscribers of Alaska Multiple Listing Service, Inc. (AK MLS, Inc.). AK MLS, Inc. does not guarantee nor is it in any way responsible for its accuracy. Data maintained by AK MLS, Inc. is for its own use and may not reflect all real estate activity in the market.