My Favorite Real Estate Market Update
Fairbanks, AK
Single-Family Homes
Office 907-746-HOME | https://www.MyFavoriteRealtyAK.com
Fairbanks, AK
Sat Jun 12 2021
This week the median list price for Fairbanks, AK is $177,450 with the market action index hovering around 55. This is an increase over last month's market action index of 52. Inventory has increased to 16.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Real-Time Market Profile
| Median List Price | $177,450 | |
| Median Price of New Listings | $299,900 | |
| Per Square Foot | $144 | |
| Average Days on Market | 117 | |
| Median Days on Market | 32 | |
| Price Decreased | 13% | |
| Price Increased | 0% | |
| Relisted | 0% | |
| Inventory | 16 | |
| Median Rent | $750 | |
| Market Action | 55 | |
| Strong Seller's Market | ||
Prices continue their climb again this week. We’re a long way from the market’s price high-point so watch the Market Action Index as an indicator of how long this trend will last.
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 |
|---|---|---|---|---|---|---|---|---|
| $454,950 | 2,233 | 0.5 - 1 acre | 4 | 3 | 15 | 1 | 1 | 31 |
| $252,450 | 1,592 | 1 - 2.5 acres | 2 | 2 | 22 | 1 | 0 | 14 |
| $128,450 | 1,170 | 1 - 2.5 acres | 2 | 1 | 35 | 0 | 0 | 126 |
| $77,400 | 502 | 2.5 - 5 acres | 2 | 1 | 39 | 1 | 0 | 112 |