Alaska
Housing Market
The landscape of the Alaska real estate market evolves with ever-changing home prices and demands. Houzeo’s housing market report tracks these constant fluctuations in supply and demand in Alaska. We aim to offer real-time insights to help you make informed decisions.
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MigrationAlaska Housing Market Overview
Housing in Alaska is getting expensive. As of January 2025, the median home sale price in the state has increased by a staggering 12.9% YoY. This increase in home prices indicates the strength of the housing market. Currently, the median home price in Alaska is $388,800. Additionally, the number of homes sold has increased by 7.4% YoY.
The median days on the market further indicates the market competitiveness. Houses for sale in Alaska now go under contract in 38 days. This points to the pace and affordability of the housing market in Alaska. Right now, the market is extremely seller-oriented.
What does it mean for home buyers and sellers?
The median days on the market further indicates the market competitiveness. Houses for sale in Alaska now go under contract in 38 days. This points to the pace and affordability of the housing market in Alaska. Right now, the market is extremely seller-oriented.
What does it mean for home buyers and sellers?
- If You’re a Buyer: Chances of negotiation are few with a median of 38 days on the market. Moreover, the mortgage rates of 6.86% can limit your buying power. So, whether you’re looking for a condo in Anchorage or a single-family home in Wasilla, move when the competition is low and home prices drop.
- If You’re a Seller: The growing prices and high demand means good news for you. The current 12.9% increase in prices is your sign to sell your home now and earn a great profit.
Median Sale Price
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Alaska
Alaska Housing Supply
Alaska’s inventory is increasing at a rapid pace as new construction expands this year. The number of Alaska houses for sale has increased by 6.1% YoY in January 2025. Currently, there are 1,623 properties for sale in Alaska. The market strongly leans towards sellers, with 3 months of supply. Fewer months indicate a seller’s market and more months indicate a buyer’s market.
What does it mean for home buyers and sellers?
What does it mean for home buyers and sellers?
- If You’re a Buyer: The 3-month supply period tilts the market in sellers’ favor, suggesting a quick sales pace. Low supply means that it could be difficult to buy property in Alaska due to increased competition. However, inventory and new listings are up from this time last year, which may present opportunities for you.
- If You’re a Seller: You need to act fast and sell your home before more supply hits the Alaska housing market and reduces home prices. Rising inventory could lower demand and lead to fewer offers from buyers. To attract buyers, focus on staging and marketing your home.
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Alaska
Alaska Housing Demand
The percentage of homes selling above the list price is a key indicator of housing demand. When more homes sell for more than the list price, it shows strong buyer competition and high demand. A decline suggests more supply. Tracking this trend helps you gauge market competitiveness.
In January 2025, 18.9% of houses in Alaska sold above the list price. Nevertheless, this number has decreased by 1.9 points YoY, indicating an increased supply. This suggests that the market may be shifting towards a balanced state. On the other hand, the 98.1% sale-to-list price ratio indicates that the market chiefly favors sellers at present.
What does it mean for home buyers and sellers?
In January 2025, 18.9% of houses in Alaska sold above the list price. Nevertheless, this number has decreased by 1.9 points YoY, indicating an increased supply. This suggests that the market may be shifting towards a balanced state. On the other hand, the 98.1% sale-to-list price ratio indicates that the market chiefly favors sellers at present.
What does it mean for home buyers and sellers?
- If You’re a Buyer: Even though 18.9% of homes are selling above the list price, this number is decreasing YoY. It means that the market could shift in your favor in the near future.
- If You’re a Seller: You'll make a tidy profit if you sell now. With a 98.1% sale-to-list price ratio and limited supply, you have the power to negotiate. However, home prices in Alaska can decrease if the home inventory increases. But unless that happens, you’ll enjoy high demand and bidding wars for your home.
Homes Sold Above List Price
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Seller’s Market
Seller: Housing demand exceeds supply and drives the prices up. Homes sell fast and get multiple offers from buyers.
Is It a Buyer’s or Seller’s Market in Alaska?
As of January 2025, home sellers in Alaska have an advantage because of increased prices and limited supply. Buying a home in Alaska is currently more difficult; buyers have limited leverage due to a 38-day market median with no YoY change.
The current mortgage rate of 6.86% further reduces buying power. However, the 9.1% rise in new home listings signals some hope for home buyers in Alaska. These trends vary significantly across Alaska’s diverse real estate markets.
Alaska Housing Market Insights
The Alaska housing market is highly competitive. House prices in Alaska are rising at a rapid rate. The median home price in Alaska ($388,800) is lower than the national median price of $418,478. However, limited supply keeps home prices relatively high. Currently, there are only 1,623 homes available for sale in the Last Frontier State.
Housing markets like Anchorage are heating up, with homes spending only 27 days on the market. Moreover, the Alaska housing market forecast for 2025 suggests inventory growth in some regions. The housing market in Alaska could soon lean towards neutrality. As of now, sellers can take advantage of the situation, while buyers can buy property in Alaska when the situation changes.
Housing markets like Anchorage are heating up, with homes spending only 27 days on the market. Moreover, the Alaska housing market forecast for 2025 suggests inventory growth in some regions. The housing market in Alaska could soon lean towards neutrality. As of now, sellers can take advantage of the situation, while buyers can buy property in Alaska when the situation changes.
Nationwide Migration Trends
The July 2023 to July 2024 census report lists Alaska as the state with the 9th-highest inbound domestic migration (0.51%). Anchorage, Juneau and Fairbanks are the cities to which most citizens migrate. This migration pattern reflects the broader differences in the national cost of living index. Currently, the cost of living index in Alaska is 124.4 which is notably higher than the national index.
One major reason for this migration was that residents don’t need to pay income tax and sales tax in Alaska. Furthermore, the state provides great job opportunities and high wages. The state’s small-town charm is another reason why people migrate to Alaska.
One major reason for this migration was that residents don’t need to pay income tax and sales tax in Alaska. Furthermore, the state provides great job opportunities and high wages. The state’s small-town charm is another reason why people migrate to Alaska.
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Frequently Asked Questions
How have the prices of houses in Alaska for sale changed over the past years?
Housing costs in Alaska have consistently increased year over year. High demand and relatively low inventory are two main reasons for this trend. The median home price in Alaska witnessed a massive 12.9% YoY growth in January 2025. To calculate the Fair Market Value, of your home in Alaska, use Houzeo’s free home worth estimator.
Are house prices in Alaska dropping?
No, house prices in Alaska are rising. Although they show varied local trends, the prices of Alaska homes for sale have risen statewide. January 2025 revealed a 12.9% YoY growth. Markets like Anchorage saw significant gains.
What’s the average cost of a house in Alaska?
The average house price in Alaska differs as per the location and size of your house, as well as market conditions. It typically ranges from $245,500 for condos to $394,800 for single-family homes
What is the Alaska housing market forecast for 2025?
The housing market in Alaska is expected to witness a steady price growth. In general, the mortgage rates in Alaska are expected to stay high throughout 2025. Nevertheless, there is some hope for a decrease in this rate. Demand for AK homes will remain high.
Is now the best time to buy or sell a home in Alaska?
Now is a good time to sell a house in Alaska. The current home prices in Alaska and the available inventory can be beneficial to sellers. On the other hand, the best time to buy a house in Alaska will be when mortgage rates become stable and the months of supply increases.
Which are the best places to buy a house in Alaska?
Anchorage, Wasilla and Fairbanks are three of the best places to buy a house in Alaska. Good amenities, great job opportunities and profitable investment options make these the best places to live in Alaska.
What are the steps to buy a house in AK?
Start out with a clear budget and get a mortgage pre-approval. Next, carefully browse houses for sale in Alaska. Once you secure your loan, make a competitive offer and complete the closing process.
How can I list my Alaska house for sale?
You can list your home for sale with a Flat Fee MLS Alaska listing service. High-tech MLS listing sites like Houzeo automatically assign the right MLS paperwork based on your location. 🚀
What is the average mortgage rate for buyers in Alaska?
The average mortgage rate for buyers in the AK housing market fluctuates between 6.86% to 7.01%. It depends on the market and your credit score. Always check current rates with lenders before you apply for a loan.
What is the average cost of living in Alaska?
A typical single-family home in Alaska costs $394,800, with significant regional price variations. The average cost of living in Alaska exceeds the national average by 24.4%, with AK rents reaching $1,800 monthly. You can check your area’s cost of living using a free Alaska cost of living calculator.
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