Eagle River is seeing a shift from a strong sellers market we have been experiencing due to lack of inventory. Our inventory has increased significantly over the last 2 years, which gives buyers more to choose from. There are currently 256 homes on the market in Eagle River , Chugiak and Birchwood of those approximately 40 will sell in April. . That is approximately 15% of the homes on the market will sell this month. This means that sellers are no longer pricing at the high end of the market if they want to be competitive and need to be a bit more flexible, with price, terms and condition of their homes than they have the past few years. The average sale price in Anchorage is $316,000 so far for 2008. We have experienced a 3.24% decrease in the average sale price in 2007. This is down from the more rapid appreciation of 11%-12% that we had seen during the 2004-2005 period. The average market time for new listings is 57 days, although if the home is priced right and in good condition still can see multiple offers within the first day or two. It is now more critical than ever to price your home at market price, there is just too much competition out there. It is also important for buyers to remember there are other buyers out there looking at the same inventory and when you see a home priced right jump on it before some one else does. The average sales price for a home is now $328.000 according to the Anchorage MLS, although it is difficult to find a newly constructed home in this price range. Homeowners have seen a steady increase in values. During the last 5 years home values have increased from 5.5% -11% per year. Anchorage has seen a steady appreciation over the last 18 years which has now leveled off or even slightly decreasing. The cost of new construction is dramatically increasing, due to the rising cost of land, materials and labor. Although new construction sales are slowing a bit.
ZIP Codes: 99577, 99577, 99577, 99577, 99577, 99577, 99577, 99577, 99577, 99577, 99577 Approximate Location Boundaries: Eagle River, Chugiak and Birchwood. Serving the Anchorage Bowl, Anchorage, Eagle River Chugiak and Birchwood
Location Characteristics: Eagle River is in the Municipality of Anchorage, between Fort Richardson and Chugach State Park. About 30,000 people live in the Eagle River and Chugiak areas, on both sides of the Glenn Highway.
The 2000 census found a population of 18,000 in Eagle River and an additional 10,000 in the settlements northeast of Eagle River -- Chugiak, Birchwood, Peters Creek, Thunderbird Falls and Eklutna. Many personnel from Fort Richardson and Elmendorf Air Force Base live in Eagle River, and many of the area's civilian residents commute to Anchorage jobs.
The town sits along the Eagle River east of the Glenn Highway. The Eagle River Nature Center, sitting at an entrance to Chugach State Park, is 12 miles up Eagle River Road. A state campground is located where the Glenn crosses the river, and a state prison is nearby.
Rafting the river is a popular activity. There is no fishing to speak of in the river, but anglers do gather at Fire and Mirror lakes.
Eagle River is the shopping hub between Anchorage and Palmer-Wasilla. Chugiak High School is northeast of town.
Community events include the Highland Games and the Bear Paw Festival.
Climate
Eagle River's average temperatures in January range from 6 to 20 degrees; in summer, temperatures range from 50 to 70. Annual precipitation is 15.9 inches, with 69 inches of snowfall. ;;;;;;;;;;;
