Real Estate Stays Hot in Alaska Through End of 2021

By Jim McCall, Alaska Housing’s Senior Housing Office

What’s HOT in Alaska During Winter?

Just How HOT is the Single-Family Homes Market? 

• In Southeast Alaska, the average sales price of a single-family home increased more than $80,000 compared to one year earlier and ended at $483,705 for 2021.
• The Mat-Su region jumped more than $46,000 with a year-ending average of $347,930.
• The Kenai Peninsula Borough took the third spot with an increase of over $35,000 from a year earlier. Average sales prices in 2021 were slightly over $310,000.
• Anchorage saw a $27,000 increase with an average sales prices of $424,000. 
• Prices for single-family homes in Fairbanks went up $25,000 for an average price of $307,000.

What About Condominiums?

• The winter chill of interior Alaska was nothing for Fairbanks condominiums at the end of 2021! The average price there increased more than $37,000 when compared to the previous year and finished 2021 with an average sale price of $173,000.
• On the Kenai Peninsula, condo prices jumped more than $25,000 at the end of 2021 and ended the year at an average of $173,000.
• Southeast Alaska saw the next highest increase at over $22,000 for an average sales price of $221,000.
• Anchorage and the Mat-Su region rounded out the list at nearly a $14,000 jump each. A condo in Anchorage now sells for close to $231,000 while in Mat-Su the number is closer to $190,000.

How is Housing Inventory?

Across the state, inventory evaporated nearly as quickly as it entered the market according to year-end data.

The number of ‘days on market’ dropped from just a year earlier for both single-family homes and condominiums in every market. The largest decrease occurred in Fairbanks with single-family homes at 78% fewer days on the market. Condominiums in Southeast Alaska had the smallest decrease in days on the market, but there was still a 22% reduction when compared to the Fourth Quarter of 2020.  

Condominiums in Mat-Su had the highest percentage jump of actual units sold at over 84%. Fairbanks had the fewest new listings at the end of 2021 at -20% for single-family homes and -67% for condominiums.  

What Will the First Quarter of 2022 Show?

It is impossible to predict the market, but a quick glance of inventory in Southcentral Alaska currently shows record lows.  

For example, throughout the previous 30 days as of March 1:  

• Anchorage saw only 75 single-family homes for sale across all price ranges and a mere 39 condominiums for sale in the Anchorage Bowl.
• Eagle River/Chugiak has averaged 30 homes and five condos for sale.
• Girdwood has had no single-family listings and only two condos for sale.
• Inventory in Mat-Su is slightly better, yet tight, with roughly 120 units of single family and only one condominium for sale. 

Spring is Coming

Spring is on its way and with it even warmer weather for Alaska – and likely even hotter real estate market activity across all regions. Winter snow may melt faster than you think!

Jim McCall leads Alaska Housing’s Senior Housing Office. Contact Jim if you are looking for resources related to affordable and accessible homes and supportive services for Alaska's seniors. 

Senior Housing Office
907-330-8436 or
800-478-2432 (toll-free outside Anchorage, but within Alaska)

_{Data Courtesy:  Alaska MLS, Fairbanks & Southeast Board of Realtors - December 2021 and Feb-Mar 2022}