We are half way through the year and the market is very competitive. Here are some stats we pulled from the Alaska MLS to give you an idea of how things are looking compared to past months/years.
Statistically we see a dramatic increase in number of available homes for sale in June, July, August.
Active listings in June 2019 vs 2018 was down 10% versus year ago. Are you thinking about selling your home? Now would be a great time to list. Learn more about our listing process.
What does this mean for a home buyer? Home buyers are having to compete for fewer homes. We are seeing multiple offers in various price ranges. The market is very competitive for home buyers this summer.
Units Sold Report
It stands to reason if our active inventory is lower, our units sold volume is lower - in this case it is approximately 14% lower. At Calling Alaska Home, we communicate with you as the home buyer so you can get into your dream home, even in competitive markets such as these. Interested in looking at properties? Learn more about what it is like to work with us.
Supply Demand Report
This is my favorite report, it tells a great story for buyers and sellers. Select the price range you are shopping/selling in to see what the competition looks like. Current inventory (in Months) shows number of months of inventory we have in each price range.
Typically, anything lower than a 4 month supply is considered a seller's market. Less inventory means seller usually has the advantage.
Conversely anything with a 4 month or higher supply is considered a "Buyer's market." More homes to select from and sellers may have to provide concessions.
These don't always hold true if the home is priced correctly, in excellent condition and a desired area. We see multiple offers in ALL price ranges regularly no matter what the inventory reports suggest.
If you would like to discuss these reports more in depth, feel free to give me a call, 907-242-9282.