Anchorage, AK Housing Market Report

The Anchorage housing market as of December 2025 presents a unique landscape characterized by steady price appreciation and a notable slowdown in transaction velocity. With a median home value of $400,298, the market has seen a 3.39% increase over the past year. Despite this growth, the most striking metric is the significant rise in days on market, which has climbed to 67 days—an increase of 24 days compared to the previous year. This suggests that while values remain firm, the frenetic pace of previous years has cooled, shifting the leverage slightly away from sellers toward a more balanced environment.

Price trends over the last six months show a consistent upward trajectory, with values rising every month from $391,958 in July to over $400,000 by year-end. This steady climb is supported by a tight inventory level of just 746 active listings, which is down slightly by 0.4% year-over-year. The sale-to-list ratio remains at a perfect 1, indicating that while buyers are taking longer to make decisions, they are still ultimately paying the asking price. The rental market is also seeing upward pressure, with median rents rising 4.6% to $1,652, which may continue to push long-term renters toward homeownership.

Looking ahead, the Anchorage market appears resilient but cautious. Sellers should be prepared for longer wait times and must ensure their properties are priced accurately from the start, as the increase in days on market suggests buyers are being more selective. For buyers, the current conditions offer a rare window of opportunity to negotiate without the extreme pressure of immediate bidding wars, even as prices continue their modest climb. The combination of low inventory and steady demand suggests that home values in the Anchorage metro area will likely remain stable or continue their slow growth through the first half of 2026.