Average home prices in Alaska were up nearly 9% in 2021
ANCHORAGE, Alaska (KTUU) - Alaska housing prices continue to climb as the average sale price for a home rose 8.9% in 2021, according to state data.
The Alaska Department of Labor and Workforce Development along with the Alaska Housing Finance Corporation teamed up to produce an economic trends magazine, which stated that the average price for a home in Alaska in 2021 was $388,648.
“Demand has been strong with the low interest rates,” AHFC Deputy Executive Director Mark Romick said. “With rising interest rates, people that want to take advantage of a lower rate that might not happen in the future. That makes them want to go out and buy a house now and that creates additional demand.”
The report also found that Juneau had the highest average price for a home in 2021 at $475,780, while the average home price in Ketchikan jumped almost $60,000 from 2020 to 2021. Anchorage home prices were above the statewide average in 2021 at $436,577 and the Mat-Su was at $369,283.
“We’ve been historically low days on market. Houses have turned over very quickly with multiple offers,” Romick said. “It may be that rising interest rates slow that down a little bit, closer to historic norms, still healthy, but not selling your house in 10 seconds like people have gotten used to over the last couple of years.”
The Alaska Housing Finance Corporation has a first-time home buyers class available online.
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