Home prices in Alaska jumped to record levels last year, according to a report from the Alaska Department of Labor and Workforce Development.
The average price of a home in Alaska was $388,648 last year, according to the department’s June newsletter. That’s almost 8.9% higher than the year before.
However, prices rose the least in Kodiak, according to state data. The going rate for a single family home on the island is now $375,316, according to the report – that’s about 3% more than the median price of a home back in 2020.
Juneau, Ketchikan, Anchorage and Bethel saw the biggest increases in median home prices in the state – in Ketchikan, the average price of a home in 2021 was almost $60,000 higher than the year before.
The Department of Labor and Workforce Development’s report cited low interest rates and tight inventory for driving up home prices across the state. The report also noted that many houses are now selling at or above their listing price, according to MLS data.