Soldotna Real Estate

The Soldotna Alaska real estate market is primarily a residential market with a small mixing of vacant land, multifamily and business properties sold each year.  The Soldotna market is interesting in that it has a base of traditional homes in subdivision setting with local parks, schools and shopping close at hand.  Most communities on the Kenai Peninsula are more spread out, “rural” without a central city or small town feel.

The City of Soldotna is shaped by the Kenai River with a mix of parks, lodges, fish camps and luxury homes along it banks that can greatly effect property values and your personal salmon fishing. The rather compact nature of the city of Soldotna is counter to the neighboring City of Kenai and surrounding areas of K-Beach and Ridgeway. For a map of the city of Soldotna you can see the Soldotna zoning map here and a Soldotna point of interest map.

 

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Soldotna Real Estate: Homes For Sale

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The Soldotna real estate market for this review is defined by the Soldotna City limits and do not include the areas of Ridgeway or K-Beach.

The overall health of the real estate market is good with no significant decline in the number of sales and price are continuing to appreciate.  The predominate type of homes sold in Soldotna are single story ranchs with 2 to 3 bedrooms and a 1 to 2 car garage.  You can also find a large number of split entry homes were you enter between levels and either go up or downstairs.  Most of the homes were built after the early 70’s with a significant portion of the home being built after the mid mid 80’s.

Soldotna Real Estate: Single Family Homes For Sales Statistics

Year # Sold Avg. List Price Avg. Sold Price % Sold Price Change Avg. DOM
2004 46 $153,052 $147,082 NA 129
2005 62 $159,752 $157,030 6.76% 92
2006 54 $177,923 $174,757 11.29% 63
2007 67 $218,030 $215,403 23.26% 70
2008 43 $255,939 $242,999 12.81% 111
2009 37 $261,478 $256,099 5.39% 82
2010 37 $196,732 $183,750 -28.25% 95
2011 57 $226,508 $217,173 18.19% 107
2012 44 $261,952 $242,137 11.49% 163
2013 64 $234,795 $228,381 -5.68% 124
  • Sales Price: The ten year average sales price has been $209,000 with the most recent three year average increasing to about $229,000.
  • Appreciation: The ten year average appreciation for Soldotna single family home has been about 6% each year since 2004 but the last three years has averaged about 8%, a healthy increase.
  • # of Sales: With an average of 51 sales per year Soldotna is a small market but has experienced a slight increase in activity with an average of 55 sales per year in the last 3 years.
  • % of List to Sales Price: The ten year average list to sales price has been about 96% but in the last three years it has dropped to 95%.
  • Days On Market: The ten year average for days on market in Soldotna is 104 days but in the last three year it has taken 131 days on average.

2014 Year to Date Soldotna Market Snap Shot as of Oct 7th, 2014

The market has been active in Soldotna with an increase in the number of new listing from 79 in 2013 to 91 in 2014. The actual number of sales are down slightly year to date with 53 in 2013 and 49 in 2014. There are still a significant number of pending transaction that have not closed. The big winner is the average sales price with an increase to nearly $266,000 from a $228,000 in 2013. There is also indication that the days on market for sold properties has decrease from prior years.

Soldotna Homes For Sales by Price Range Year to date 2014

Price 1 to 2 Bed 3 Bed 4 + Bed Total
$29999.99 and under  0
$30000-$39999.99  1  1
$40000-$49999.99  0
$50000-$59999.99  0
$60000-$69999.99  0
$70000-$79999.99  0
$80000-$89999.99  0
$90000-$99999.99  0
$100000-$119999.99  1  1  2
$120000-$139999.99  1  1
$140000-$159999.99  1  1  2
$160000-$179999.99  6  2  8
$180000-$199999.99  1  1  2
$200000-$249999.99  11  6  17
$250000-$299999.99  3  4  7
$300000-$399999.99  2  2
$400000-$499999.99  1  1
$500000 and over  1  4  1  6
***Totals***  4  30  15  49
***Average*** 215,625 287,043 240,300 266,904
***Median*** 100,000 215,000 222,000 215,000

Above as of October 7th, 2014. Sourced from Alaska MLS, deemed reliable but accuracy is not guaranteed.

Soldotna Real Estate: Land Statistics

The Soldotna real estate market usually has about 80 to 90 parcels of land actively for sale with only about 14 sales per year.  On average only about 15% of the land listed each year sells. It is common for it to take many year on the market for a parcel to actually attract a buyer. The desire for land in Soldotna did pickup in 2014 with an estimated 35% increase in the number of sales. This is in part driven by a few large retail projects that are not expected to reoccur in the near future years.

Year # Sold Avg. List Price Avg. Sold Price % Sold Price Change Avg. DOM
2004 20 $72,985 $67,718 NA 385
2005 27 $43,703 $41,722 -38.39% 272
2006 23 $55,021 $51,308 22.98% 181
2007 15 $151,220 $106,300 107.18% 380
2008 13 $91,800 $81,769 -23.08% 103
2009 2 $53,750 $52,750 -35.49% 230
2010 11 $92,490 $84,209 59.64% 222
2011 11 $78,627 $71,672 -14.89% 390
2012 12 $91,300 $79,033 10.27% 358
2013 14 $86,975 $80,421 1.76% 243

Soldotna Land For Sale

Soldotna Real Estate: Multi Family Income Property Statistics

The real estate market for income property in Soldotna is small with usually only 5 multifamily properties listed for sale at any time. They can range from a duplex to large 20 unit apartment buildings.

Soldotna Multifamily Real Estate For Sale

Year # Sold Avg. List Price Avg. Sold Price % Sold Price Change Avg. DOM
2004 5 $280,000 $262,900 NA 86
2005 4 $234,625 $234,250 -10.90% 25
2006 9 $405,211 $382,500 63.29% 38
2007 2 $204,500 $200,500 -47.58% 7
2008 0 $0 $0 -100.00% 0
2009 2 $222,700 $216,000 NA 4
2010 5 $307,000 $302,400 40.00% 66
2011 0 $0 $0 -100.00% 0
2012 1 $299,000 $299,000 NA 11
2013 2 $685,250 $570,250 90.72% 130

Soldotna Rentals: Homes For Rent

Finding a home to rent in Soldotna can be tricky. There is no one central place used by agents and land lords. You can check our Soldotna Rental page for properties listed by agents in the local MLS. We recommend checking local property management companies website: FiveStar,  Les Crane & Associates, Mossy Oak and Century 21. Private Properties owners heavily use Craigslist, the Peninsula Clarion and a Few Facebook groups to look for new tenants.

When looking for a rental be very wary of scams. Do not hand over any money until you have toured the home and are fairly certain that the person you are working with owns the property or is a licensed Realtor.