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Valley and Anchorage Multifamily Real Estate Market Update

We have almost made it to 2022 and we shall see what the new year brings our way. One thing for sure I am very tired of the vicious cold spell we have had to start the Winter! No one I have asked remembers it being this cold, for this long, this early and we really don’t see an end in sight! Oh well it’s  Alaska and perhaps we will have an early Spring!

I took a look at the multi-family real estate marketplace in both the Valley and Anchorage. Owning an investment property remains the best way to build long term wealth in my opinion and there are always opportunities. I know one ex landlord that sold several properties in 2019 and is really kicking himself now watching how rents have increased dramatically and vacancy rates dropping especially in the Mat-Su Valley. Rents have increased 10-20% in 2021 and no problem having a choice of tenants. Finding a good deal on a rental property is a challenge with low inventory but you just need to be ready for when the right property shows up (or we have to find it!). Also a great time to sell with prices appreciating and low competition. Reach out to Travis or I if you want to discuss opportunities! Here is a link to all the multi-family active listings from Anchorage to the Valley. View Listings
Looking at supply (active) and demand (pending sales) we see how things are upside down compared to 2019 especially. The ratio between pending and active sits at 200% in December compared to just 36% in 2019. Average sales price increased from about $439,000 to start the year to about $476,000 in 2021, about 9%. Interestingly that is about the same increase from 2019 which is very different from the increase in single family prices (close to 30% increase from 2019). New construction remains a big factor especially in the valley.

Below is the 3 year comparison of supply & demand. Check out the 90 active listings in 2019 versus just 30 now! 

Anchorage multifamily shows quite a decrease in active listings since June. The ratio between active & pending is quite a bit less than the valley at 125% but way higher than 2019 at just 36%.
Average sales prices did show a pretty big jump in 2021 rising from about $431,000 to $514,000, about a 19% increase. December 2019 showed an average sales price of about $423,000.

The 3 year comparisons show about half the supply from 2019 and about double the amount of pending sales. So there is more opportunity in Anchorage to find a property but my understanding is rental rates have not increased as much and vacancy rates are a bit higher.

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If you or anyone you know has ANY thoughts of buying or selling real estate in 2021, lets connect to talk about the opportunities available in our market and how to reach your goals.
Call or text Dave now at 907-863-7289
Call or text Travis now at 907-575-6779
http://www.DavesAlaskaHomes. com

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