Average home prices in Alaska were up nearly 9% in 2021

ANCHORAGE, Alaska (KTUU) – Alaska housing costs proceed to climb as the typical sale worth for a house rose 8.9% in 2021, in accordance with state knowledge.

The Alaska Division of Labor and Workforce Improvement together with the Alaska Housing Finance Company teamed as much as produce an financial traits journal, which acknowledged that the typical worth for a house in Alaska in 2021 was $388,648.

“Demand has been robust with the low rates of interest,” AHFC Deputy Govt Director Mark Romick stated. “With rising rates of interest, folks that wish to benefit from a decrease charge which may not occur sooner or later. That makes them wish to exit and purchase a home now and that creates further demand.”

The report additionally discovered that Juneau had the best common worth for a house in 2021 at $475,780, whereas the typical dwelling worth in Ketchikan jumped nearly $60,000 from 2020 to 2021. Anchorage dwelling costs have been above the statewide common in 2021 at $436,577 and the Mat-Su was at $369,283.

“We’ve been traditionally low days on market. Homes have turned over in a short time with a number of affords,” Romick stated. “It might be that rising rates of interest sluggish that down somewhat bit, nearer to historic norms, nonetheless wholesome, however not promoting your own home in 10 seconds like folks have gotten used to over the past couple of years.”

The Alaska Housing Finance Company has a first-time dwelling consumers class accessible on-line.

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