News Flash: Soldotna Home Prices Expected To Fall in 2010!
How low will they go and should I buy now?
Welcome to Soldotna Alaska Real Estate and our latest effort to allow you to promote the listings of your home, property, building lots or recreational lots for sale in the Soldotna Alaska area. It’s easy to join this site, all you need to do is set up a user name and password, submit it for review and we will approve your user account for as long as you do not abuse this site for non real estate purposes. New Listings include this beautiful home For Sale By Owners
Sell your home fast on the new Soldotna Real Estate website dedicated to putting buyers and sellers together over the internet. List your real estate in Soldotna or other properties like building lots or new construction with ease. As a local resident, we have all seen the values of our homes rise dramatically over the past few years. This is in part thanks to the record low interest rates and a shortage of homes for sale in the Soldotna area. This recent high demand for real estate we have been experiencing is carrying over into the summer of 2008 resulted in another jump in new housing starts to try and fill the need for single family homes in the area. Alaska on the whole is experiencing a healthy economy despite the woes seen in the lower 48. Soldotna AK Real Estate Market, Is it likely to cool off in the near future? The figures show it’s very unlikely as all the necessary pieces for a strong economic base are in place and actually looking better for the foreseeable future. Yes, the lower 48 is in a recession and homes are being foreclosed upon daily, but this is Alaska and like we all have seen over and over, we seldom follow the economic indicators of others and often reflect just the opposite. What we do see from the slump in the overall economy is some incredible interest rates like we could only have seen in our wildest dreams. Fixed rate mortgages, the only home mortgage worth obtaining for your family residence, are offering great rates for those qualified buyers looking to purchase their first home or move up into a larger home for their growing families. It really is a great time for buying a home in Soldotna.
The Soldotna area residential real estate market is red hot and showed no signs of cooling in 2008. There are more buyers then sellers, not enough newly built or existing homes to fill demand, and new construction is not able to keep up with another year of high sales.
Home prices have jumped sharply in recent years and we are seeing them continued to rise in the spring of 2008. The average sale price for pre-owned single-family homes in Soldotna rose to $207,908 last year from the $181,417 a year earlier, a 14.6 percent gain from 2006, according to the MLS data. That jump follows a 22 percent annual appreciation rate since 2004. Add in the sales prices for new homes and the average sales price for a home in Soldotna was $299,000 in 2007. The average new construction home sold for $374,246 in 2007 but realizing that many were built on riverfront property, these prices are not out of line. Soldotna Riverfront Property is scarce and expensive thus adding to the final sales price of the home. The entire Kenai Peninsula hosts a very strong real estate market and is not likely to experience a downturn in the projected future. The residential foreclosure rate is one of the nations lowest and reflects the strong economy we are experiencing here in Alaska.
We sincerely hope you decide to be a part of this great Alaska community of Soldotna as it’s a great place to own a home, raise a family, relax and enjoy life to its fullest.