Eagle River Real Estate Market Report Analysis

Alaska offers a unique blend of the big city and the open wilderness and has therefore been a highly sought after destination in recent years. Anchorage and its surrounding areas in Alaska boast the highest standard of living in the state. In fact, Anchorage has often been voted as one of the best cities to live in the entire United States. It has all the big city charms with skyscrapers, upscale shopping, and dining. However, it is quite close to nature as well offering a unique and irresistible blend.

The areas surrounding Anchorage, Alaska include places like, Fort Richardson, Palmer, Chugiak, Eagle River and Elmendorf. Out of these places Eagle River has been very popular with house hunters in recent years. Eagle River’s charm lies in the fact that while retaining a small town feel, it is extremely close to Anchorage.

Houses for sale in Eagle River come at many different price points. However, most of the activity on the market occurs between $250,000 and $350,000. What this shows is a healthy picture of real estate in Eagle River. In fact, the whole of the Alaska Real Estate market has suffered a lot less from the recession than other places in the country. As per the latest reports, the average listing price for houses for sale in Eagle River was an encouraging $325,000. According to the same report, the final sale price generally hovered between 95-100% of the listing price. The most encouraging thing however, is that the average listing price in the region has increased by 5% as compared to last year. This is perhaps the only region in the entire country where the listing prices haven’t declined drastically. Moreover, the amount of inventory in the area is not very large, indicating that homes for sale in Eagle River are almost always in demand.

Newly built properties have been the best sellers in Eagle River real estate. In addition, first time buyers have been the most active in the Eagle River market. This could well be due to the low interest rates in the area as well as the $8000 tax credit announced by the U.S. government.