My Favorite Real Estate Market Update
Fairbanks, AK
Single-Family Homes
Office 907-746-HOME | https://www.MyFavoriteRealty.com
Fairbanks, AK
Fri Apr 19 2024
This week the median list price for Fairbanks, AK is $307,000 with the market action index hovering around 32. This is less than last month's market action index of 33. Inventory has held steady at or around 28.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.
Real-Time Market Profile
| Median List Price | $307,000 | |
| Median Price of New Listings | $479,950 | |
| Per Square Foot | $164 | |
| Average Days on Market | 118 | |
| Median Days on Market | 116 | |
| Price Decreased | 46% | |
| Price Increased | 0% | |
| Relisted | 86% | |
| Inventory | 28 | |
| Median Rent | ||
| Market Action | 32 | |
| Slight Seller's Advantage | ||
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $510,000 | 2,505 | 1 - 2.5 acres | 4 | 3 | 41 | 3 | 1 | 42 |
| $369,000 | 2,028 | 0.25 - 0.5 acre | 4 | 2 | 45 | 1 | 0 | 147 |
| $145,000 | 1,200 | 1 - 2.5 acres | 2 | 1 | 63 | 0 | 0 | 175 |
| $95,000 | 1,060 | 1 - 2.5 acres | 1 | 1 | 46 | 0 | 0 | 98 |