I can’t tell you how many conversations I have had in the past few weeks about Kenai River Homes. Kenai River real estate be it homes or vacant land have been strongly influenced by national economic cycles. The strong price appreciation in early to mid 2000’s was driven by discretionary income and investments, often out of state 1031 exchange money. This money pushed river pricing to a point of refusal for many buyers. As a result Kenai River property values and the volume of sales have dropped during the market correction.
This article was written to review the 2012 market activity. For current information please visit the Kenai River Real Estate main page. The market activity and prices have increased with a strong recovery in 2013 and 2014.
The Good News: We are seeing signs of a recovery as the national real estate market slowly improves and a return in qualified buyers to the Kenai River.
The Numbers: a nonscientific sample
Sold Lots: In the last 12 months 13 Kenai River lots have sold with widely varying pricing. The sales ranged from 82.49 acres for $1,050,000 to .42 acres for $80,000.
Active Lots: On the market currently are 25 Kenai River Lots ranging from 14.35 acres for $2,290,000 to .07 acres for $29,900.
Sold Homes: In the last 12 months 12 homes have sold, one was a lodge for $750,000. Kenai River homes sales range from $575,000 to $200,000.
Active Homes: There are currently 29 Kenai River real estate and homes for sale. The listing range from $1,800,000 to $125,000 for a cabin .16 acre.
We cautiously expect to see a positive improvement in the number of sales and a gain in sales prices. If you would like to learn more about purchasing or selling Kenai River real estate please contact us or call 907 252 2743.
By Glenda Feeken Broker and Owner of RE/MAX of the Peninsula and lead for TEAM FEEKEN
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