ANCHORAGE

alaska

High Prices and Tight Inventory

Inventory is tight overall in Anchorage, Alaska, a city of nearly 300,000, with just 150 homes total listed for sale in April 2026, says Bethany Weiser, Managing Partner of The Agency Anchorage. “A decade ago, our luxury homes were priced at $750,000, but now they start at $1 million and go up to $3 million,” Weiser says. “A family that wants a four-bedroom, 2.5-bathroom single-family home with a three-car garage with a yard or a nice view has to pay at least $800,000 to $900,000,” says Emma Shibe, Broker and Managing Partner of The Agency Anchorage. “If they want both a yard and a view, it costs $1.1 million to $1.5 million.”

Many new construction homes cost $2 million to $3 million, she says. “We’ve run out of room in Anchorage to build new homes, so some people will commute 30 minutes or longer each way to get a house for $1 million that might cost $1.5 million in the city,” Shibe says.

The main economic driver in Anchorage is the oil and gas industry, Weiser says. “We have a lot of people moving here from Texas, Calgary, Norway, and the Middle East for that industry, plus doctors, business owners, attorneys, and cargo industry executives who want luxury homes,” she says.

The high cost of living in Anchorage is offset by zero state, city, and estate taxes, high salaries, and an oil dividend of $4,000 for a family of four, Weiser says. “Our inventory is tight because we have a lot of demand, but also because so many homeowners have a low mortgage rate,” Shibe says. “They don’t want to sell unless they’re busting at the seams of their house.”

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In Aspen, prices hold strong despite a winter with little snow, with summer likely to get a boost

When some people think of Aspen, Colorado, ski resorts come to mind—even after a winter with less powder than usual. However, summer is actually the area’s most popular season, according to Chris Flynn, Managing Partner of The Agency Aspen. “Our summers are always busy,” he explains. “This one could potentially be busier to make up for some people that didn’t come over the winter and want to get their Aspen fix. They’re going to make it happen this summer.”

The region—which also includes Snowmass Village and other communities throughout Colorado’s Roaring Fork Valley—saw record-low snowfall in the first quarter of 2026. Still, its real estate market remains one of the world’s most exclusive and prices “are holding strong,” Flynn says. “In some cases, we’re just bigger and bigger numbers,” he notes. “We recently had a sale that, when you pencil it out, sold for $10,000 a square foot.”

Flynn has seen a “huge uptick” in buyers from Florida, California, and the East Coast looking to escape the summer heat—much like many of his Texas clients have always done. “They come to get out of the heat, so they come out in the summer,” he says. Others come just for the winter months, while some come for both. “It’s a blend.”

Younger families are also more likely to put down roots in the area, despite having business ties to New York, Los Angeles, or Chicago. The area’s natural beauty, mountains, and great schools attract families looking for a healthy lifestyle, as do Aspen’s world-class restaurants, entertainment, and shopping. “I have some clients that are in their mid-30s to mid-40s that are buying,” Flynn says. “It used to be mostly the 50-plus range.”

Inventory is an issue, and the region has strict regulations about development. In addition, construction prices are up, which hasn’t helped supply levels, Flynn adds. The lack of snow throughout the West resulted in a slower winter season, resulting in a dip in sales.

However, the long-term strength of Aspen’s market and pent-up demand are set to make summer—and the rest of 2026—stand out, according to the agent. “The city continues to grow, although we are limited with where and how and what you can develop,” Flynn says. “That’s what really keeps our prices super strong and has created a great investment for owners.”