Housing and Real Estate

Sitka has four real estate agencies: Davis Realty, Baranof Realty, RE/MAX of Sitka, and Sitka Realty. All four agencies participate in the Sitka Multiple Listing Service (MLS). In Alaska, state law regulating the sale of homes is considered strict and all those brokering homes must test satisfactorily and be licensed. Sitka is currently undergoing a housing shortage and therefore an investment opportunity for a developer of rental properties and homes in the $75,000 to $200,000 range. Recent zoning changes now allow for some high density development, i.e. a pocket neighborhood or cottage community.

New home construction is typically heated with fuel oil. Many existing homes are switching to electric heat with a backup source (wood stove or oil furnace). New homes are built to Alaska standards that call for a higher insulation factor among other things. Hot water is also typically fuel oil fired. Cooking is either electric or propane fueled.

HUD Data
2009 Fair Market Rent for Sitka
Efficiency $ 780
1-bedroom $ 899
2-bedroom $ 1,073
3-bedroom $1,563
4-bedroom $1,883

City & Borough Assessing Department Data (2009)
Typical residential lot size 9,000 square feet
Residential lot price $ 9 - $19/sq ft
Commercial lot price $10 - $ 32/sq ft.
Industrial lot price $ 3.50- $7/sq ft.

Multiple Listing Service Data (2009)
Homes Sold (all types) 68
Average single family home sale price $299,406

City and Borough Building Department Data (2009)
Value of Construction Permits $9,614,124
New dwelling units added 18

2000 Census Data:
Average household size
(includes non family households) 2.61
Average family size 3.15
Total housing units 3,650
Occupied housing units 3,278
Owner-occupied 1,175
Renter-occupied 1,360
Not-specified 743
Vacant housing units 372
Seasonal, recreational or occasional use 169