Anchorage Market Report
November 2025
Well… some interesting ideas circulating in the housing market news at the national level - which in this case (it’s not always this way) also apply to Alaska.
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What’s Making It Hard for Buyers to Pull the Trigger?
These newsletters, like my business, are mostly intended for people selling their homes - that’s who I mostly represent. I’m an optimistic guy and I can see the positive in most situations, and despite what the national news tells us about housing, things are usually looking good if you have a home to sell in Anchorage. And… I’m also going to give it to you straight when things are more difficult than you would expect. So - why aren’t the buyers stepping up? Here’s part of it:
Interest rates are finally falling, so they should be buying, right? Even the 0.75 point or so drop we’ve seen so far saves hundreds of dollars per month at the average price point in Anchorage. Rates for certain loan types have even crossed the mythical 6% threshold - where 5.85%, for example, feels WAY WAY lower than 6.02% (for the record, it’s just 0.17% lower - I can subtract). And nationally, mortgage applications are up. Nevertheless, in some headline markets where construction is fast and real estate booms and busts like an Alaskan resource industry (Florida, Texas, Arizona, Las Vegas), there is a surplus of inventory. It’s a clear buyer’s market in those places, and prices have actually dropped accordingly. I was just at EXP Realty’s national conference in Miami, and I heard all sorts of stories to that effect. Here in Anchorage we haven’t seen that, and I don’t expect that we will - price growth is lower this year than last (3% versus 7%), but that’s still a climb.
It’s price (i.e. inventory) and interest rates that get the headlines, but there are a few other factors that raise borrowers’ monthly costs and affect their ability to buy. Escrow costs, or the cost of property taxes and insurance that lenders usually collect along with the monthly mortgage payment, have been rising nationally at a rate almost identical to the massive price increases of the past 6 years: 45-57% since 2019, depending on how the data is gathered. And of course it’s not happy sellers repeating the benefit of those increases: it’s insurance companies and local taxing authorities. In some markets, escrow is often half of the monthly payment! That’s a challenge to buyers that is less visible than interest rates and price.
A longer term challenge is simply the increase in home prices, as a multiple of average income. That has been going on for decades, and is now at a factor of 5: i.e., the average home costs 5 times the average yearly household income, up from 3 a few decades ago, and 4 more recently.
But enough with reading the tea leaves - here are the real numbers for Anchorage, where it’s a great time to sell a house:
The Numbers for Last Month (October)
Source: Alaska MLS statistics for the months of October 2024 and October 2025
Median Sale Price Climbs Slightly
↑ Up 2.4%
It’s up 3% this year overall, compared to 2024 overall, and up slightly on a monthly basis as well. The short story is that the climb in sales prices is still going, but more slowly than in years past.
Median Sale Price climbed just 2.4% since October 2024, to $457,000 from $446,000. It’s looking like a year of moderate gains, slower than in years past but well within historical norms.
Median Days on Market
↑ Up 8% (still not high)
Median days on market in October was 25.5, up from 23.6 a year ago, and predictably up a bit since late summer (typical for the season). It’s a bit slower in the Valley (37.4 in Wasilla), which is also typical. The long term norm, and a sign of a balanced market, is 3 months.
Sale-to-List Price Ratio
↓ Down 0.2 pts
The current average ratio is 97.1%, down from 97.3% a year ago. It’s also a few points down since late summer, again typical. This slight dip aligns with the increase in days on market; sellers are accepting offers just under list price more often than last year. Properties priced right from day one still frequently achieve or exceed their list price.
Price per Square Foot
↑ Up 5.2%
Now $260, up from $247 a year ago. Price per square foot is rising faster than overall price, indicating stronger growth in demand for homes at a higher $/sq ft - nicer, newer, better updated, etc. We see that anecdotally with many reports of updated, attractively staged homes moving very quickly and easily, while others stay on the market. That’s why I always tell my clients, while you will be lucky to break even with an increased sales price after remodeling projects… you can 10x your money with aggressive cleaning, de-cluttering and staging. It’s the best ROI in real estate.
Multiple Offers - Every Month
Sellers with the right strategic plan, pricing, and positioning for their property and their goals still see multiple offers - I come across several each month, either on my own listings or those I investigate for buyers. With strategy, marketing, and pricing properly in place, we can attract maximum offers and get your home sold for the highest possible price in the fewest days on market. Inventory is the name of the game and the Sellers are still in control - at least in Anchorage (maybe not Dallas!).
As a Homeowner, What Does This Mean for You?
If you’re thinking about selling in the next 12 months, now is the time to start preparing for the market.
When I work with my clients, I provide step-by-step guidance throughout the entire process. I understand you have roles and responsibilities to manage, so you can leave the “heavy lifting” to me. Through my systematic process, we'll get your home prepared and listed, where I'll use targeted marketing to attract a pool of high-quality buyers.
My commitment to excellence, consistent communication, strategic negotiations, and unique positioning for luxury properties are just a few reasons why my clients have trusted me with what is (for most) their largest asset. My process works, and I make it a seamless, simple experience for you. EXP Luxury, Zillow Showcase, true feature videos by a real-live professional videographer (not cheesy real estate photographer videos edited offshore or with AI), data-driven analytics - that’s what it takes to present your property in its best light, and protect your equity.
If you are thinking about selling your home in the next 12 months, call me today for your Strategic Marketing Consultation → 907.318.8714
We will cover your goals and my unique approach to getting you the highest possible price in the fewest days on market.
Call Today → 907.318.8714
As I’ve reminded everyone in the last several newsletters, I’ve invested in some incredible new software that provides homeowners with an impressively reliable Home Value Estimate, instantly, using multiple AVMs (Automated Valuation Models) not available to the public. It’s a great place to start: FIND YOUR HOME VALUE HERE.
Sean Williams
The Prince Group
eXp Luxury
www.theprincegroup.com
[email protected]
907.318.8714
