YEAR OVER YEAR COMPARISON
This Year: 1/1/2012 to 10/10/2012
Last Year 1/1/2011 to 10/10/2011
| Number Sold - Last Year | Number Sold - This Year | PCT % | Average Sale Price - Last year | Average Sale Price - This Year | PCT% | |
|---|---|---|---|---|---|---|
| 300 - North Kenai | 26 | 37 | 42 | 138,013 | 202,392 | |
| 305 - Kenai | 48 | 59 | 22 | 197,374 | 208,871 | |
| 310 - Kalifornsky Beach | 51 | 66 | 29 | 222,788 | 211,273 | |
| 315 - S of Soldotna | 12 | 8 | -33 | 203,042 | 203,625 | |
| 320 - Kasilof | 19 | 15 | -21 | 146,774 | 100,327 | |
| 330 - Soldotna | 41 | 35 | -14 | 217,010 | 241,950 | |
| 335 - Ridgeway | 29 | 24 | -17 | 244,271 | 292,496 | |
| 340 - Sterling | 39 | 38 | -2 | 237,759 | 235,995 | |
| 345 - Funny River | 8 | 14 | 75 | 184,188 | 243,357 | |
| Residential Totals: | 273 | 296 | 8 | 206,509 | 218,759 | |
| Grand Totals: | 273 | 296 | 8 | 206,509 | 218,759 | |
The first ten months of 2012 have been more active than the same period in 2011 with an 8% increase in the number of properties sold and a 6% increase in the average sales price. The bulk of the increase in properties sold have been centered in North Kenai, Kenai and K-Beach, while other areas experienced a drop in the number of sales from the prior year. Most local markets have benefited from an increase in average sales price. North Kenai was the big winner for sellers with a 46% increase in average sales price.
Oil and gas exploration and production continues to be a positive economic force with a positive outlook for the next year. We are seeing increased interest in exploration in the inlet and other areas by independents producers. Several new gas wells are being drilled in Kenai. The gas storage facility has been completed and is ready to address peak winter demand. Interestingly we are seeing a surge in new commercial construction from North Kenai to Soldotna. We are very lucky to have oil and gas, along with tourism and commercial fishing to support our local economy.
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