Indicator of the Week: Juneau Housing Prices at an All-time High

Market Remains Sluggish

The 2011 average sales price for single-family homes in Juneau reached $294,818.  The 2011 price has surpassed the previous high of $293,353 in 2007.  For this analysis, a single-family home is defined to include single-family detached, single-family with apartment, single- family attached, and condominiums.

Source:  Juneau Multiple Listing Service, January 2012.
Note:  Includes single-family detached, detached with apartment, attached, and condominiums.

Nationally, home sales peaked in 2006.  Defaults of subprime mortgages increased quickly thereafter, creating the subprime mortgage crisis.  By mid 2007, home prices and sales had dropped dramatically.  Locally, the number of single family homes sold decreased in 2007 and 2008, rose again in 2009 and 2010, but dropped again in 2011.  The average number of days that a single-family home remained on the market in Juneau increased through 2009, but has dropped slightly since that time.  In 2011, the average single-family house remained on the Juneau market more than twice as long as it did in 2005.  While prices for Juneau homes are high, the market remains sluggish.

Juneau Single-Family Home Sales, 2005 to 2011

Source: Juneau Multiple Listing Service, January 2012.

Note: Includes single-family detached, detached with apartment, attached, and condominiums.