3rd Quarter 2020 – Single Family Home Sales

swilliams Education , Real Estate

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%

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