My Favorite Real Estate Market Update
Fairbanks, AK
Single-Family Homes
Office 907-746-HOME | https://www.MyFavoriteRealtyAK.com
Fairbanks, AK
Tue May 26 2020
This week the median list price for Fairbanks, AK is $264,900 with the market action index hovering around 33. This is less than last month's market action index of 34. Inventory has held steady at or around 51.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Real-Time Market Profile
| Median List Price | $264,900 | |
| Per Square Foot | $153 | |
| Days on Market | 90 | |
| Price Decreased | 27% | |
| Price Increased | 0% | |
| Relisted | 2% | |
| Inventory | 51 | |
| Median Rent | ||
| Most Expensive | $699,900 | |
| Least Expensive | $35,000 | |
| Market Action | 33 | |
| Slight Seller's Advantage | ||
The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.
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 |
|---|---|---|---|---|---|---|---|---|
| $445,217 | 2,690 | 1 - 2.5 acres | 3 | 3 | 6 | 1 | 2 | 85 |
| $333,000 | 1,800 | 1 - 2.5 acres | 3 | 2 | 14 | 1 | 1 | 89 |
| $225,000 | 1,750 | 0.25 - 0.5 acre | 3 | 2 | 43 | 4 | 4 | 44 |
| $124,900 | 960 | 1 - 2.5 acres | 2 | 1 | 35 | 0 | 2 | 140 |