Sitka, AK
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Sitka Neighborhoods Since 2000




Sitka, AK Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Sitka Housing Market Information

With 8,863 people, 3,472 houses or apartments, and a median cost of homes of $351,766, Sitka house prices are not only among the most expensive in Alaska, Sitka real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Sitka, accounting for 51.32% of the city's housing units. Other types of housing that are prevalent in Sitka include duplexes, homes converted to apartments or other small apartment buildings ( 22.07%), mobile homes or trailers ( 10.08%), and a few large apartment complexes or high rise apartments ( 9.59%).

People in Sitka primarily live in small (one, two or no bedroom) single-family detached homes. Sitka has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Sitka built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Sitka built between 1940-1969 ( 22.38%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.72%). There's also some housing in Sitka built before 1939 ( 4.37%).

Vacant housing appears to be an issue in Sitka. Fully 15.71% of the housing stock is classified as vacant. Left unchecked, vacant Sitka homes and apartments can be a drag on the real estate market, holding Sitka real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Sitka Home Appreciation Rates

Appreciation rates for homes in Sitka have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.07%, which ranks in the top 50% nationwide. This equates to an annual average Sitka house appreciation rate of 0.50%.

Over the last year, Sitka appreciation rates have trailed the rest of the nation. In the last twelve months, Sitka's appreciation rate has been 0.02%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Sitka were at 1.94%, which equates to an annual appreciation rate of 8.00%.

Relative to Alaska, our data show that Sitka's latest annual appreciation rate is lower than 50% of the other cities and towns in Alaska.

Average Home Values

 

Median Home Value:
$351,766

Sitka, AK HOME PRICES

Value Range
> $1,092,000 1.6
$819,001 - $1,092,000 4.4
$546,001 - $819,000 9.8
$437,001 - $546,000 13.7
$328,001 - $437,000 31.0
$218,001 - $328,000 19.5
$109,001 - $218,000 8.6
$55,001 - $109,000 4.0
$0 - $55,000 7.2

Very High for AK
Very High for Nation

Value Relative to Nation Value Relative to State
12.8051993676445 4.83870967741936

Number Of Homes And Apartments:
3,472

Sitka Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AK*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
71.48% 3.13% 5 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,531 / per month

Homeownership Rate

Homeownership
Owners 57.15
Renters 42.85
Vacant 15.71

Housing Market Details

 

Age of Homes

AGE OF Sitka HOMES
2000 or Newer 12.7
1970 - 1999 60.5
1940 - 1969 22.4
1939 or Older 4.4

Types of Homes

TYPE OF Sitka HOMES
Single-Family 51.3
Townhomes 6.4
Small Apt. Buildings 22.1
Apt. Complexes 9.6
Mobile Homes 10.1
Other 0.5

Home Size

SIZE OF Sitka HOMES
No Bedroom 6.53
1 Bedroom 12.79
2 Bedrooms 30.25
3 Bedrooms 34.47
4 Bedrooms 13.13
5 or more bedrooms 2.82

Popular Neighborhoods in Sitka

Popular Communities Near Sitka, AK

Zip Codes in Sitka, AK