Oceanview 2012 Year-End Real Estate Sales Synopsis

For the purposes of this blog and in order to effectively research the MLS database, I have defined Oceanview Homes as having a legal description beginning either with “Oceanview” or “Flying Crown”.  This totals 556 homes.  A total of 19 Oceanview homes listed in the MLS (and meeting the above Oceanview subdivision legal descriptions) were sold in 2012.  This is exactly the same number that sold in 2011.  In 2012, those 19 homes sold in an average of 65 days from their listing date to pending date, at an average sales price of $356,858.  In 2011, those 19 homes sold in an average of 79 days from their original listing date, at an average sales price of $306,269.  Although that’s a 16.5% average sales price increase, it’s not an accurate reflection of appreciation since all of the homes sold in 2011 were smaller than 2,700sf and sold for less than $400,000, while five of the homes in 2012 were larger than 2,700sf and three sold for more than $400,000.  A more accurate appreciation estimate of 5% is detailed in my 2012 Year-End Anchorage Area Real Estate Activity Report.  Higher priced homes finally did sell in 2012 and sold on average two weeks faster than in 2011.  This is another indicator of the comeback real estate year we had in 2012.  Similarities between the 19 sales in 2011 & 2012 included an average sales price reduction of $17,937 in 2012 from the original list price vs. $17,586 in 2011.  Sellers in 12 of the 19 sales in 2012 also paid a portion of the buyer’s closing costs, averaging $6,097 per sale in which it took place vs. 8 of the 19 sales in 2011 which averaged $7,096 per sale in which it took place.  In addition, five additional Oceanview listings were cancelled or expired in 2012 without a sale, after being on the market an average of 111 days vs. three listings in 2011 on the market an average of 102 days.

Because of the following: a. Alaska is a “non-disclosure state”, b. the MLS is a private database, and c. this is a public website…..I cannot provide additional private, Oceanview sale specific information unless I am using it to conduct a comparative market analysis on your home.  With that said, the MLS does have a public website with listing reports, photos, etc., of all MLS listed homes currently for sale, along with limited sales statistics and numerous informational links.  Click on http://www.alaskarealestate.com/ to go this site.  The data used in this publication is copyrighted by AK MLS, Inc.  No portion may be reproduced, redistributed or retransmitted without the express permission of AK MLS, Inc.  Further, AK MLS, Inc. does not warrant the accuracy of the information or data contained herein.

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