Housing in Eagle River, Alaska

Eagle River is known as a community within the Municipality of Anchorage, located on the Eagle River. The city is a famous hub for shopping, with some eminent brands like Wal-Mart, Carr’s Safeway and Fred Meyer.

In terms of education and academics, Anchorage School District is considered as the center of education. The city supports a number of sports activities for instance soccer, football, cross country running and so on. The popular and most sought after annual events here would be the Highland Games, at the end of June and the beginning of July.

Real Estate

According to a recent survey of the market trends in January 2010, the real estate changes have undergone some alterations. The records denote that there is an increase in the average price of the land per square foot. The figure estimated now is $152, which is an increase of 19.7% as that of last year. Similarly the median selling price for residences for the month of November 09 to January 10 is $182,088 based on the selling of one home. A comparative study of last year would indicate that the median sales price for homes have fallen by 10.7%, whereas the quantity of home sales had fallen down to 66.7%.

At present Eagle River occupies about 284 new and resale homes, as well as a quantity of 19 homes falling under auction, bank-owned and pre-foreclosure stages to carried on to the foreclosure proceeds. Keeping in mind the present conditions, average price for houses on sale is $372,086.

Eagle River is situated in the centre, a small distance from Anchorage. Hence, activities such as outdoor activities and the performing arts are prevalent. Therefore, the real estate that this area provides has a scope for future expansion and at present hold numerous commercial plots. The construction of the new homes is now brought to a standstill owing to the recent economic down turn.

With the market changes and alterations in Eagle River, the real estate options that would now be presented to the consumer would be inclusive of a bouquet of condominiums, estate holdings, single family residences and townhouses. Condominiums and townhouses are available at a cost of $235,000 whereas the price for a single family home is $325,000. A keen review would thereby specify that the average for the Anchorage is almost the same as the townhouses and condominiums. In case of the single family homes the average is arrived at an approximate amount of $295,000, thereby ranging from $150,000 to about $3,000,000.

Studies estimate, that in the forthcoming years the scope of the homes in Eagle River would increase manifold. With its given state of achievements and endeavors, the city’s real estate is marked to be as one of the superlative investment options in the State.

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