April 16, 2026, Seward Folly

Nicole Lawrence of Seward Properties

City Comparison: Q1 2026 Trends Across the Kenai Peninsula

Looking across the Kenai Peninsula cities in Q1 2026, the overall direction still feels consistent with what we saw develop in 2025 — a slower, more selective market — but there’s one notable shift worth calling out. After a big jump in days on market last year, we’re actually seeing homes move a bit faster in Q1 2026 compared to Q1 2025.

That doesn’t necessarily mean the market is heating back up — it feels more like a market that has found its footing. Buyers are still cautious, but they seem more comfortable making decisions within this new environment.

Kenai continues to feel relatively tight. Inventory is still limited, and that’s helping support pricing. With slightly improved days on market, it appears that well-priced homes are still finding buyers without sitting as long as they did last year.

Soldotna remains one of the more balanced areas. The shorter days on market here suggest buyers are engaging, but pricing still feels a little softer. This could point to a market that is adjusting efficiently — homes that are priced right are moving, while others may still linger. It is worthwhile to note that sold activity for Q1 is up by 34% in this area.

Homer still feels like one of the softer markets overall, but even here, the improvement in days on market suggests that buyers are stepping back in — just more selectively. Inventory may still feel a bit light, but the pace of movement is slightly better than it was a year ago, though mostly stable.

While Seward homes are still taking longer to sell compared to the peak years, the increase in percent of list price from 94% last year to 100% this year is significant. Though buyers are generally taking longer to make offers, there are still instances of multiple offers; that is standard with the limited inventory over the past two years in this area. Last year felt like a sharp slowdown; this year feels more like stabilization. Buyers are still price-sensitive, but they’re not as hesitant as they were when the market first shifted.

Overall Similarities
Across all cities, a few themes are consistent:

 Sales volume remains relatively low, keeping overall activity subdued
 Prices are holding, but are highly dependent on condition and pricing strategy
 Buyers are still cautious — but more decisive than they were a year ago

Big Picture Takeaway
Q1 2025 felt like the moment the market slowed down.
Q1 2026 feels like the time when the market is adjusting.

We’re not seeing a return to a fast-paced seller’s market — but we are seeing a more functional one. Buyers understand the landscape better, sellers are (slowly) adjusting expectations, and as a result, homes that are priced right are starting to move more efficiently again.

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Kodiak Area
Kodiak shows an increase in days on market from Q1 of last year, including a small change in the number of sales, but overall transaction volume remains relatively low. With only a limited number of properties selling, even modest changes can look more significant than they really are, so it’s still too early to draw any firm conclusions about long-term trends.

Bethel
Bethel continues to be an extremely low-volume market, with only a handful of sales in Q1, which makes the data highly variable. Metrics like average price and days on market can swing quite a bit from year to year, so while there are noticeable changes in the numbers, they’re more reflective of individual transactions than any broader market shift.