SINGLE FAMILY HOME SALES:
July to September 2020
Despite what you might expect in the middle of the Covid-19 Pandemic with the decline in hiring and spending, the Juneau real estate market has actually surged in the past three months when compared to this quarter last year. Seventy-three homes were sold in Q3 2020 versus 49 sold in Q3 2019.
Days to market the homes decreased by 1/3, averaging 29 days compared to 92 days last year. Homes in every price category sold in less time. Along with quicker sales this quarter, single family home prices held closer to asking prices, with an average discount of .6% versus the 1.4% price reduction in the same quarter of last year.
While this quarter’s brisk home sales is somewhat counterintuitive to the slowdown/recession we are experiencing in Alaska, there are anecdotes of increased activity in other home-related businesses such as home improvements, landscaping, and short term apartment rentals.
As of October 8, 2020, there are 27 homes listed for sale.
| SALES DATA: July to September 2020 | |||||||||||
|
Number of Sales |
Days on Market |
||||||||||
| Price Range |
2020 |
2019 |
2020 |
2019 |
|||||||
| $200,000 – 349,999 |
7 |
9 |
5 |
30 |
|||||||
| $350,000 – 449,999 |
26 |
20 |
29 |
87 |
|||||||
| $450,000 – 649,999 |
30 |
19 |
35 |
122 |
|||||||
| $650,000 + |
10 |
1 |
25 |
151 |
|||||||
| Total Sales / Average DOM |
73 |
49 |
29 |
92 |
|||||||
|
Average Sales Price |
Average List Price |
Sold vs List % |
|||||
|
Price Range |
2020 |
2019 |
2020 |
2019 |
2020 |
2019 |
|
| $250,000-349,999 | 331,857 | 306,250 | 336,100 | 305,333 |
-1.3% |
-0.3% |
|
| $350,000-449,999 | 391,492 | 394,520 | 394,507 | 403,720 |
-0.8% |
-2.3% |
|
| $450,000-649,999 | 500,463 | 513,736 | 501,700 | 519,294 |
-0.2% |
-1.1% |
|
| $650,000 + | 760,300 | 762,000 | 768,130 | 780,000 |
-1.0% |
-2.4% |
|
| Average | $481,078 | $432,033 | $484,139 | $438,142 | -0.6% |
-1.4% |
|
