Nikiski / North Kenai Real Estate

North Kenai has traditionally had a sleepy real estate market. The area is large and sparsely populated with many lakes and private parcels. The hallmark was often that you used to be able to snow machine or moose hunt from your homes backyard. Today the coffee table conversation is about the proposed massive Liquefied Natural Gas (LNG) terminal to be located adjacent to the original experimental export LNG facility.  The plant proponents have already purchased many North Kenai homes and businesses to secure sufficient land for the development.

Nikiski / North Kenai Real Estate & Homes For Sale
34 Results
 
$674,000
Beds: 3
Baths: 3
Sq. Ft.: 3,714
Listing Office: Jack White Real Estate Kenai
 
$640,000
Beds: 1
Baths: 1 | 1
Sq. Ft.: 1,147
Listing Office: Northern Trust Real Estate
 
$474,900
Beds: 3
Baths: 3 | 1
Sq. Ft.: 2,676
Listing Office: Five Star Realty, LLC
 
$469,000
Beds: 4
Baths: 3 | 1
Sq. Ft.: 4,302
Listing Office: Century 21 Realty Solutions Freedom Realty
 
$399,900
Beds: 4
Baths: 2
Sq. Ft.: 3,436
Listing Office: Redoubt Realty
 
$359,900
Beds: 4
Baths: 2 | 1
Sq. Ft.: 3,046
Listing Office: Jack White Real Estate Soldotna
 
$355,000
Beds: 4
Baths: 4
Sq. Ft.: 4,076
Listing Office: Redoubt Realty
 
$349,000
Beds: 4
Baths: 3
Sq. Ft.: 2,551
Listing Office: Jack White Real Estate Soldotna
 
$339,000
Beds: 5
Baths: 2
Sq. Ft.: 2,003
Listing Office: Jack White Real Estate Soldotna
 
$339,000
Beds: 3
Baths: 2
Sq. Ft.: 1,764
Listing Office: Jack White Real Estate Kenai
 
© 2017 Alaska Multiple Listing Service, Inc. All rights reserved.

The listing content relating to real estate for sale on this web site comes in part from the IDX Program of Alaska Multiple Listing Service, Inc. (AK MLS). Real estate listings held by brokerage firms other than RE/MAX of the Peninsula are marked with either the listing brokerage's logo or the AK MLS logo and information about them includes the name of the listing brokerage. All information is deemed reliable but is not guaranteed and should be independently verified for accuracy. Listing content scraping by unauthorized personnel is strictly prohibited.

Alaska MLS data last updated at April 30, 2017 9:17 AM AKT

North Kenai / Nikiski Real Estate: Homes For Sale

The real estate market has seen an increase in activity during the few years resulting from the turn over of the Cook Inlet oil rig operators and the extensive reworking of existing wells and new exploration. The commercial market has been very strong with many businesses needing to build shops due to the lack of available building. Commercial activity is largely confined to the Spur Hwy corridor.

Despite the health economy and proposed mega project the residential housing market has remained stable and hasn’t sky-rocked. Prices have experienced a healthy adjustment to local norms but are not out-pacing the Kenai, K-Beach or Soldotna real estate market. Most real estate activity is still residential and related to employee transfers into and out of the area.

The North Kenai housing inventory is diverse. The age, quality of construction and style are varied. After the initial surge in the 50’s and 60’s growth has been slow and steady and the age of the homes vary accordingly. Quality of construction is generally good but you must be diligent in your inspection since there is no building code enforcement.

Nikiski / North Kenai Real Estate: Single Family Statistics

Year # Sold Avg. List Price % List Price Change Avg. Sold Price % Sold Price Change Avg. DOM
2004 52 $135,769 NA $129,612 NA 127
2005 73 $138,076 1.70% $135,261 4.36% 150
2006 62 $162,167 17.45% $158,335 17.06% 130
2007 49 $181,179 11.72% $171,996 8.63% 140
2008 36 $157,541 -13.05% $149,336 -13.17% 95
2009 28 $155,475 -1.31% $148,261 -0.72% 121
2010 41 $174,039 11.94% $165,444 11.59% 186
2011 38 $142,963 -17.86% $136,796 -17.32% 129
2012 54 $187,834 31.39% $181,335 32.56% 154
2013 45 $191,028 1.70% $184,173 1.57% 175
  •  Sales Price: The average sales price has increased from a ten year average of about $157,000 to $167,0000 for the past three year.
  • Appreciation: The market has an average of 5% appreciated for the last ten years with a slight increase to 6% for the past the years.
  • # of Sales: The number of sales has average about 48 with a few years spiking above.
  • % List To Sales Price: For the past ten years the homes that do sell in North Kenai generally sell for 96% of asking price.
  • Days On Market: Days on market have increase from a ten year average of 141 days to 153 days in the last three years.

2014 Year to Date North Kenai / Nikiski Real Estate Snap Shot as of Oct, 2014

The North Kenai real estate market is having a good year with 48 sales in October, more then the total from all of 2013. The average sales price is continuing to climb and is about $207,000.  A big jump from the averages of prior years. The big change from prior years is the health of the Nikiki North Kenai real estate market’s higher priced homes.

Price 2 or less Bedroom 3 Bedroom 4 or more Bedroom Total
$29999.99 and under  1  1  2
$30000-$39999.99  1  1
$40000-$49999.99  1  1
$50000-$59999.99  0
$60000-$69999.99  0
$70000-$79999.99  0
$80000-$89999.99  0
$90000-$99999.99  0
$100000-$119999.99  0
$120000-$139999.99  4  2  6
$140000-$159999.99  3  3  1  7
$160000-$179999.99  1  2  1  4
$180000-$199999.99  4  1  5
$200000-$249999.99  3  2  1  6
$250000-$299999.99  3  4  7
$300000-$399999.99  6  2  8
$400000-$499999.99  1  1
$500000 and over  0
***Totals***  13  25  10  48
***Average*** 139,531 224,192 253,690 207,408
***Median*** 129,900 195,000 269,900 194,000

North Kenai – Nikiski Real Estate: Land Statistics

Year # Sold Avg. List Price % List Price Avg. Sold Price % Sold Price Avg. DOM
2004 58 $21,857 NA $18,252 NA 531
2005 76 $24,441 11.82% $21,735 19.08% 803
2006 96 $31,461 28.72% $28,740 32.23% 629
2007 90 $24,285 -22.81% $21,031 -26.82% 591
2008 70 $24,761 1.96% $21,755 3.44% 391
2009 37 $25,522 3.07% $21,576 -0.82% 381
2010 46 $26,415 3.50% $22,255 3.15% 374
2011 37 $18,210 -31.06% $16,793 -24.54% 517
2012 50 $22,558 23.88% $19,545 16.39% 530
2013 29 $35,324 56.59% $27,106 38.69% 511

North Kenai – Nikiski Real Estate: Multi Family Statistics

Year # Sold Avg. List Price % List Price Avg. Sold Price % Sold Price Avg. DOM
2004 1 $39,900 NA $39,900 NA 7
2005 5 $155,760 290.38% $140,240 251.48% 193
2006 2 $176,250 13.15% $178,500 27.28% 77
2007 3 $235,000 33.33% $226,833 27.08% 125
2008 1 $129,500 -44.89% $128,000 -43.57% 105
2009 1 $189,000 45.95% $191,500 49.61% 319
2010 1 $206,500 9.26% $195,000 1.83% 70
2011 1 $225,000 8.96% $210,000 7.69% 198
2012 1 $165,000 -26.67% $150,000 -28.57% 333
2013 2 $338,500 105.15% $325,000 116.67% 37