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Fairbanks Real Estate Market is Heating Up

Fairbanks AK has remained steady in the face of the recession, although the real estate market is not what it was a few years ago we are currently watching it warm up again following the trends all over the country.

The bulk of the market consists of the mid-range homes for sale in Fairbanks, the current average listing price of homes for sale in Fairbanks AK is about $233,700, which is a 5.8% increase or $12,700 from w-o-w. A total of about 200 contracts have closed in the recent months on an average of $215,000-$230,000, which is currently the price range that holds the highest amount of sold listings. These Fairbanks AK properties are spending an average of 90 days on the market. Both average days on the market and average homes sold prices have been rising in the recent weeks.

We are also looking at an increasing number of listings on the market, as they are slowly starting to climb along with home sales. That is supported by what we are seeing in other parts of the country. Real Estate Agents are busy and homes are selling. If you are looking to purchase Fairbanks real estate we suggest getting in on the market while there are still fair home to price ratios.

The number of sales in Fairbanks is also increasing as the years go by, and real estate agents are expecting above average sales this year.

If you would like to search for your new home in the Fairbanks AK area, or are looking to sell your home feel free to contact me with any questions.