My Favorite Real Estate Market Update
Fairbanks, AK
Single-Family Homes
Office 907-746-HOME | https://www.MyFavoriteRealtyAK.com
Fairbanks, AK
Thu Sep 24 2020
This week the median list price for Fairbanks, AK is $217,400 with the market action index hovering around 42. This is an increase over last month's market action index of 38. Inventory has held steady at or around 40.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.
Real-Time Market Profile
| Median List Price | $217,400 | |
| Per Square Foot | $119 | |
| Days on Market | 74 | |
| Price Decreased | 43% | |
| Price Increased | 0% | |
| Relisted | 8% | |
| Inventory | 40 | |
| Median Rent | ||
| Most Expensive | $899,900 | |
| Least Expensive | $25,000 | |
| Market Action | 42 | |
| Slight Seller's Advantage | ||
Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. 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 |
|---|---|---|---|---|---|---|---|---|
| $361,700 | 2,961 | 1 - 2.5 acres | 4 | 3 | 36 | 1 | 1 | 75 |
| $247,400 | 2,268 | 8,000 - 10,000 sqft | 4 | 2 | 50 | 1 | 1 | 57 |
| $184,450 | 1,606 | 0.25 - 0.5 acre | 3 | 1 | 45 | 2 | 1 | 63 |
| $97,500 | 890 | 5 - 10 acres | 2 | 1 | 23 | 0 | 0 | 101 |