This update will examine the latest trends shaping real estate in Alaska over the past couple of weeks. Recent numbers show increasing activity with inventory climbing and more pending and closed sales.
The Matanuska River provides a picturesque backdrop for this week’s update. It is flowing high with snowmelt and recent rains, and the landscape is also dynamic. Due to the powerful flow, there are visible changes in the river’s path and the surrounding banks.
Trends for Real Estate in Alaska from May 29 to June 10, 2024
Week of May 29 – June 3, 2024:
- New Listings: 52 new properties entered the market at an average price of $612,000.
- Pending Sales: 36 properties went under contract with an average price of $383,000.
- Closed Sales: 34 properties closed at an average price of $429,000.
- Total Inventory: The inventory rose to 444 listings, reflecting active market participation.
Week of June 3 – June 11, 2024:
- New Listings: There were significant increases with 92 new listings, averaging $440,000 each.
- Pending Sales: 62 properties went pending with an average price of $450,000, indicating heightened buyer interest.
- Closed Sales: 44 properties successfully closed transactions during this period.
- Total Inventory: The total inventory continued to climb, reaching 476 listings.
These numbers highlight a vibrant market where listings and pending sales have surged. It underscored sustained interest in Alaskan properties. The average listing prices and transaction volumes illustrate the market’s resilience and activity levels.
As we analyze these figures, it is crucial to monitor inventory trends closely. The increasing inventory may influence market dynamics, potentially indicating a shift in the supply and demand balance.
Watch the full video update for more detailed insights and a deeper dive into Alaska’s real estate market trends. Stay tuned for further developments as we continue to track the evolving landscape of Alaska’s real estate market.
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