This guide will not only help you decide where in Anchorage you might want to live, but also how<\/i> you want to live, and what\u2019s really important to you in a home purchase. Buying a home in Anchorage doesn\u2019t have to be overwhelming, and along with your trusted Anchorage real estate agents, we\u2019re here to help you navigate the process.<\/p>\n Living in Anchorage means you can enjoy everything from world-class cross country ski and bike trails, to premiere entertainment that includes concerts, Broadway-caliber shows and fine dining.<\/p>\n Each year, the city hosts the annual Fur Rendezvous Festival<\/a>, a 12-day celebration that includes dog mushing, parades, and the annual Running of the Reindeer, and summer months bring outdoor markets, concerts, and Summer Solstice events.<\/p>\n Anchorage also shares space with plenty of urban wildlife, from moose wandering neighborhood streets, eagles, and even the occasional bear passing through town.<\/p>\n The wilderness-and-city combination means that Anchorage is one of the most desirable places to live in Alaska, and home prices reflect this reality.<\/p>\n The state of Alaska\u2019s Department of Labor and Workforce Development listed the average sales price of a single-family home in Anchorage at $337,063<\/a> for the second quarter of 2019, which is slightly higher than the national average.<\/p>\n That price range can dip as low as the mid-$100,000s for condominiums, or rise up past the million-dollar mark for bigger homes in sought-after neighborhoods.<\/p>\n You\u2019ll also want to keep in mind that utilities can be quite expensive during Alaska\u2019s cold winters \u2014 but Anchorage\u2019s mild summers mean that very few (if any) homes in Anchorage have air conditioning.<\/p>\n Alaska\u2019s cost of living tends to run high, with everything from groceries to gas costing more than you might expect. The good news is, Anchorage has no sales tax<\/a>, which helps offset the higher prices on consumer goods.<\/p>\n Because Anchorage started as a tent city<\/a> in a boom town, the layout can seem a bit eclectic. Overall, neighborhoods are designated to East, West, North and South quadrants. The Municipality of Anchorage also includes the towns of Eagle River and Chugiak, located approximately 15 miles from the city center.<\/p>\n Generally speaking, you\u2019ll find bigger and more expensive homes in the southern parts of town, as well as some areas of West Anchorage.<\/p>\n The more northerly neighborhoods, such as Mountain View, have a higher density and more multi-unit rental properties, and the downtown areas are a mix of older homes built in the 1950s and \u201960s, apartment complexes, and condominiums<\/a>. If you head out to Eagle River or Chugiak, you\u2019ll find bigger lots and bigger homes to go with them.<\/p>\n Most of Anchorage\u2019s homes are wood structures built on concrete foundations. Older homes, such as those in the downtown and Turnagain neighborhoods, often have fully finished basements, and you\u2019ll also find a lot of split-level<\/a> homes and raised ranches. While homes built in the 1950s may have small attics, you\u2019re more likely to see crawl spaces in homes built after 1970 or so. New construction<\/a> has slowed due to lack of usable land, but when you do see new homes here, they tend toward open floor plans and lots of windows to enjoy those mountain views.<\/p>\n The Bayshore subdivision is a 45-acre tract of single-family homes near shopping, schools, and parks. Bayshore is one of the few Anchorage neighborhoods that has an active HOA<\/a>, and while you do have to pay monthly dues, you also get amenities such as use of their community clubhouse.<\/p>\n Anchorage\u2019s Hillside neighborhood encompasses most of the homes on the southern edge of town, just before you hit the highway that takes you to the ski town of Girdwood or the coastal town of Homer.<\/p>\n This area is primarily single-family homes, with bigger houses, larger lots, and a higher overall price point. Schools are good and crime is low, but you\u2019ll find that the neighborhood is aptly named, as the winding, hilly streets can be treacherous, requiring four-wheel-drive vehicles for most of the winter months.<\/p>\n Located in Anchorage\u2019s northeast quadrant, Mountain View is an older neighborhood with single-family homes, multi-unit apartments, mobile homes, and condominiums.<\/p>\n This is a working-class area with a small shopping district, and it\u2019s close to major highways, making for an easy commute. It is a higher-crime area; however, you\u2019ll also find some real bargains in home prices, and the people who live in this neighborhood claim a strong sense of community.<\/p>\n Also located in northeast Anchorage, Airport Heights is an established neighborhood that is located near shopping, hospitals, and Anchorage\u2019s Merrill Field Airport (hence the name!) There are many older homes here, built in the 1950s and \u201860s, which can be both good and bad.\u00a0 Some homes in this area may have issues that come with age, but home prices are also lower.<\/p>\n Muldoon is the last neighborhood before you head north toward JBER military base and the towns of Eagle River and Chugiak. Like most of the city, it’s a mix of single-family homes, multi-unit apartments, condominiums, and mobile homes.<\/p>\n Muldoon sits near Tikahtnu Commons, a major shopping zone that has shops, restaurants, and a movie theater, and there are schools, churches, and grocery stores all nearby. This is a dense area, but you\u2019ll find pockets with established neighborhoods, and many of the single-family homes are on bigger lots.<\/p>\n Located about 15 miles from downtown Anchorage, Eagle River and Chugiak are their own towns, but they are still considered part of the Municipality of Anchorage. Homes in this area are often built on larger lots and are also bigger, with prices to match. Eagle River is a low-crime area, with plenty of shopping and restaurants, as well as hiking and biking trails, parks, and the river it is named for running through it.<\/p>\n Tucked away in a quiet corner of West Anchorage, Turnagain<\/a> is an older neighborhood with most homes built in the 1950s. This is considered one of Anchorage\u2019s premiere neighborhoods, and pride of ownership is evident here.<\/p>\n Anchorage\u2019s Coastal Trail is nearby, with paved bike paths that can take you all over the city, and there are parks, shopping, and restaurants within walking distance. Despite the fact that many of the homes are older, prices run a bit higher here, but residents are quick to say the quality of life in this neighborhood makes the higher price point well worth it.<\/p>\n Anchorage’s downtown district includes condominiums and apartments, as well as a small assortment of historic homes<\/a>. There is no shortage of restaurants and shopping here, and people who live downtown enjoy the walkability and convenience. Denali Park strip sits nearby, with tennis courts and wide grassy expanses. In the summer, the Park Strip has community events such as weekly yoga, PrideFest<\/a>, and food and drink expos.<\/p>\n All of Anchorage\u2019s neighborhoods have pros and cons, so you\u2019ll want to research and see what part of town works best for you.<\/p>\n If schools are important, check out the ratings<\/a> for individual neighborhood schools. Anchorage also has a wealth of charter schools that operate on a lottery system and allow waivers for students to attend outside of their immediate neighborhood. And if its outdoor activities you\u2019re seeking, there are several neighborhoods in Anchorage that are close to hiking, biking, and ski<\/a> trails.<\/p>\n Lifetime Alaskan Savanna Wiita is a top real estate agent with the high-producing Dan Wolf Team<\/a> in Anchorage. She\u2019s been part of the Anchorage housing market for upwards of 14 years, starting as an investor<\/a> and house flipper<\/a> before getting her real estate license.<\/p>\n According to Wiita, one of the biggest problems she sees with new homebuyers is that although they want to purchase a home, they aren\u2019t necessarily ready to do so. \u201cIt\u2019s important to make sure you\u2019ve saved for a down payment<\/a> and know what you can afford<\/a>,\u201d she says.<\/p>\n Wiita also notes that shopping for the right lender is crucial.<\/p>\n \u201cWhen seeking a lender, they will often discount fees to get your business if they know they\u2019re competing with another bank, so be sure to shop around.\u201d<\/p><\/blockquote>\n Anchorage is still considered a young city by most standards, and the housing market tends to reflect that.<\/p>\n Wiita says that a good portion of the homes in Anchorage were built in the 1970s and \u201980s, which coincides with the oil boom and subsequent bust that occurred during that time period. \u201cThere isn\u2019t a lot of usable land in Anchorage for new construction,\u201d she says. Buyers seeking newer developments should look in South Anchorage by Kincaid Park, Wiita suggests, and \u201cthere are also some mixed-use developments downtown, condos with businesses built beneath or next to them.\u201d<\/p>\n Popular neighborhoods include South Anchorage and the Hillside, Turnagain, which is located in West Anchorage, and downtown. \u201cHomes don\u2019t go up for sale very often in downtown Anchorage, and when one does, it tends to fly off the market pretty quickly,\u201d adds Wiita.<\/p>\n Anchorage\u2019s housing market tends to peak in spring, with most home sales happening in March and April. Late summer and early fall run a close second, and January is the slowest.<\/p>\n \u201cThe market usually starts to pick up around the beginning of February,\u201d says Wiita, who also noted that in October 2019, listings were on the market for an average of 50 days, and closings took anywhere from 17 to 35 days. \u201cWhile we\u2019ve seen a slight decrease in active listings in the last year, the market is holding steady,\u201d she adds.<\/p>\n Wiita notes that while the $200,000-to-$400,000 price ranges tend to be the \u201chottest\u201d for buyers, there are still higher-end homes being sold every day.<\/p>\n \u201cWe get a lot of first-time homebuyers, families who are outgrowing their homes, and retirees looking to downsize,\u201d she says, \u201cand while there\u2019s been a lot of talk about oil companies moving out of Alaska, we also have large oil companies moving in, so homes in the $500,000-to-$1-million price ranges are still selling.\u201d<\/p>\n There are some unique considerations when it comes to buying a home in Anchorage that you might not encounter in other parts of the country, which means one of the most important things you can do during the homebuying process is getting a home inspection<\/a>.<\/p>\n Home inspectors, hired by the buyers prior to closing, do a visual inspection of the property. A good inspector doesn\u2019t just look at the house, but also looks at things like grading levels around the property and makes use of tools such as infrared cameras and moisture meters to gauge damage or potential safety issues.<\/p>\n David Mortensen<\/a> has been an inspector in Alaska for 14 years. A resident since 1976, he started out as a contractor, doing remodels and commercial projects in Alaska for 25 years before moving into home inspections. Mortensen is also the president of the Anchorage division of the American Society of Home Inspectors.<\/p>\n He says that the biggest thing Anchorage homebuyers should be on the lookout for when house hunting is signs of water damage. \u201cWater problems are one of the biggest and costliest issues homebuyers can face,\u201d he says. \u201cWater entry of any kind, mildew, or water stains should be a red flag.\u201d<\/p>\n![\"A](\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2019\/12\/buy-a-house-in-anchorage-alaska-house-666x381.png\")
<\/a>How much do homes in Anchorage typically cost?<\/h2>\n
![\"A](\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2019\/12\/buy-a-house-in-anchorage-alaska-cabin-666x381.png\")
<\/a>Where to buy a house in Anchorage, and what to expect from the housing stock<\/h2>\n
South Anchorage neighborhoods<\/h3>\n
Bayshore<\/h4>\n
Hillside<\/h4>\n
East Anchorage neighborhoods<\/b><\/h3>\n
Mountain View<\/h4>\n
Airport Heights<\/b><\/h4>\n
North Anchorage neighborhoods<\/b><\/h3>\n
Muldoon<\/h4>\n
Eagle River\/Chugiak<\/h4>\n
West Anchorage Neighborhoods<\/h3>\n
Turnagain<\/h4>\n
Downtown<\/h4>\n
![\"Land](\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2019\/12\/buy-a-house-in-anchorage-alaska-land-666x381.png\")
<\/a>The lay of the land for homebuyers in Alaska<\/h2>\n
When is the right time to buy a home in Anchorage?<\/b><\/h2>\n
![\"A](\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2019\/12\/buy-a-house-in-anchorage-alaska-home-666x381.png\")
<\/a>Potential pitfalls when buying a home in Anchorage<\/b><\/h2>\n