Brokers — List your Company Here
Featured local agent — South Lakes, AK
Sarah Mitchell
Compass Real Estate · South Lakes, AK
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
This spot is open. Be the only brokerage featured on this page — one slot, no auction.
Claim this spot* Example only — dummy agent for illustration. Your logo, name, tagline, link, and lead routing replace this content.
South Lakes, AK Housing Market
The last median sale price Redfin published was $475,000, +1.1% year over year (through May 2026). With 4.0 months of supply and homes going under contract in about 11 days, South Lakes is a seller's market. At today's 7.03% 30-year fixed rate, 20% down on a $475,000 home is about $2,536/mo in principal and interest.
Key numbers for South Lakes, AK
Median sale price
$475,000
+1.1% year over year
Redfin, through May 2026
Days on market
11
Fast-moving
Redfin, through May 2026
Active listings
12
4.0 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$89,632
Home costs 5.3x income
U.S. Census ACS, 2023
Sale-to-list ratio
102.5%
Selling above asking
Redfin, through May 2026
Zillow figures refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is South Lakes a buyer's or seller's market?
South Lakes, AK is a seller's market, based on 4.0 months of supply and homes selling in about 11 days. 4 to 5 months of supply is the neutral band: neither side holds a structural advantage, and outcomes turn on the individual property.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the South Lakes housing market data show?
Every row below is Redfin's final published month for South Lakes, AK. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $475,000 |
| Median list price | $647,999 |
| Year-over-year price change | +1.1% |
| Median price per sq ft | $272/sq ft |
| Median days on market | 11 days |
| Active inventory | 12 listings |
| Months of supply | 4.0 months |
| Sale-to-list price ratio | 102.5% |
| Homes sold (that month) | 3 |
| New listings (that month) | 9 |
| Listings with a price cut | 25.0% |
| Market condition | Seller's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for South Lakes is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in South Lakes is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have South Lakes home prices moved?
Over the last three years the median sale price in South Lakes, AK rose 33.8%, from $355,000 to $475,000. 25.0% of South Lakes listings cut their asking price in the final Redfin month — a modest share, which is what a market looks like when sellers are pricing close to where homes actually clear. For prices to fall meaningfully from here, supply would have to keep building past 4.0 months while the sale-to-list ratio slips below its current 102.5%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
Get South Lakes market alerts
Weekly updates on prices, inventory, and trends. Free forever.
What does it cost to buy a home in South Lakes?
Priced off the median sale price of $475,000 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $95,000 | $380,000 | $2,536/mo |
| 5% | $23,750 | $451,250 | $3,011/mo |
Redfin, through May 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $2,536, that implies roughly $108,678 a year before you add taxes and insurance. The median household in South Lakes earns $89,632, about $19,046 short of that threshold — the typical local household needs a larger down payment, a co-borrower, or a home below the median sale price to fit the 28% rule. That puts the price-to-income ratio at 5.3x — well above the 3x that was historically considered affordable, which is why down payment size drives who can buy here.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in South Lakes in the next 12 months?
Tell us your timeline. We send the South Lakes market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in South Lakes?
Zillow does not publish a rent index (ZORI) for South Lakes, AK, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in South Lakes?
Active listings in South Lakes, AK went from 14 in May 2025 to 12 in May 2026, a -14.3% change. Falling inventory tightens competition. When supply drops while demand holds, sale-to-list ratios rise before the median sale price does.
| Month | Active listings | New listings |
|---|---|---|
| June 2025 | 12 | 8 |
| July 2025 | 19 | 12 |
| August 2025 | 19 | 8 |
| September 2025 | 20 | 8 |
| October 2025 | 11 | 2 |
| November 2025 | 8 | 1 |
| December 2025 | 5 | 4 |
| January 2026 | 7 | 4 |
| February 2026 | 4 | 2 |
| March 2026 | 5 | 6 |
| April 2026 | 7 | 4 |
| May 2026 | 12 | 9 |
Redfin, through May 2026
How does South Lakes compare to Alaska and the U.S.?
South Lakes homes sell for $475,000 — 11% above the Alaska median of $427,100. Against the national median of $410,700, South Lakes runs 16% higher. Year-over-year, South Lakes moved +1.1% against Alaska's +4.2% — a smaller swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| South Lakes, AK | $475,000 | +1.1% | 11 days |
| Alaska statewide | $427,100 | +4.2% | 22 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in South Lakes
What buyers should watch
- Months of supply, currently 4.0. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 25.0%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $475 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $475,000 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median South Lakes listing goes under contract in 11 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 102.5% of asking. Price at the number you want and let competition do the rest.
- In the last published month South Lakes added 9 new listings against 3 sales — more competition arriving than clearing, so early timing matters.
- Comparable ZIP-level pricing inside South Lakes varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in South Lakes
There are currently 12 homes listed for sale in South Lakes, Alaska. The median listing price is $648K.
Active listings
12
Homes on market
Median list price
$648K
Avg. days on market
11
Days until sale
New this week
9
Newly listed
How much do homes cost in South Lakes by property type?
How the South Lakes, AK market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $475,000 | $272/sq ft | 3 | 11 days |
| Condo / co-op | $310,000 | $207/sq ft | 1 | 9 days |
Who lives in South Lakes?
American Community Survey estimates for South Lakes. U.S. Census ACS, 2023
Population
6,132
Households
2,191
Median income
$89,632/yr
Median age
33 years
Owner-occupied
65.2%
Median home value
$367,700
Median gross rent
$1,191/mo
Mean commute
29.6 min
65.2% of occupied homes in South Lakes are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market.
Which cities are near South Lakes, AK?
Ordered by distance from South Lakes, not by size. Compare South Lakes side by side with any of them.
South Lakes housing market FAQ
Is South Lakes a buyer's or seller's market?
South Lakes, AK is currently a seller's market. That read comes from 4.0 months of supply, homes going under contract in about 11 days, and sellers getting 102.5% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in South Lakes?
The median sale price in the last month Redfin published was $475,000, about $272 per square foot.
Is South Lakes cheaper than the rest of Alaska?
South Lakes's median sale price of $475,000 is 11% higher than the Alaska statewide median of $427,100, and 16% above the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in South Lakes?
Homes in South Lakes, AK spent a median of 11 days on market before going under contract, versus 22 days statewide. Under three weeks means well-priced listings move before most buyers can schedule a second showing. (Redfin, through May 2026.)
What income do you need to buy a home in South Lakes?
At the current 30-year fixed rate of 7.03%, 20% down on a $475,000 home is about $2,536 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $108,678 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $89,632.
Are home prices rising in South Lakes?
Redfin's last published year-over-year change for South Lakes, AK was +1.1%, measured through May 2026. That series is frozen; treat it as a historical reading rather than a current trend.
What are the cheapest ZIP codes in South Lakes?
South Lakes ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in South Lakes?
That depends on your timeline, not on a headline. What the data says today: South Lakes, AK is a seller's market with 4.0 months of supply, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
Be the brokerage on this page
1 slot per pageGet featured on South Lakes, AK
Your logo, brokerage name, and direct link to your site — featured at the top of this page in front of every visitor researching this whole city. One brokerage, no rotation, no bidding war.
- Goes live in 24 hours
- Cancel anytime
- Do-follow backlink to your site
Keep researching South Lakes
Nearby markets
Get the South Lakes market brief
Get the South Lakes, AK market brief
One email: what homes are actually clearing at around $475,000, how long they sit, which ZIPs run cheaper, and what to fix on your credit before you apply.