1. What is the Freeman-Reed Index?
The Freeman-Reed Index is a detailed monthly statistical analysis of the Alaska real estate market. The complete Index is a comprehensive analysis of local and regional data and includes data by narrow price ranges, property types, specific communities, and detailed data tables including current and historical information, market trends and more in much greater detail.
2. How often is the index produced?
Alaska MLS professional staff compiles the data and produce the reports during the second week of each month. This allows for all of the information on properties that closed or changed status at or near months end to be recorded and reported in the proper month.
3. Why is the report over a month old?
Alaska MLS does not make the most current month available to the public to allow our members time to analyze and interpret the data first.
4. Where can I obtain a copy of the Freeman-Reed Index?
The complete report is only made available to real estate professionals who are members of Alaska Multiple Listing Service, Inc., but a summary report including a few key market indicators will be made available on a monthly basis through www.AlaskaRealEstate.com and through local media outlets.
5. Is For Sale By Owner information included in the report?
Although true "For Sale By Owner" listings are not marketed through Alaska MLS we do record the sales information if a real estate professional was involved in the transaction to capture the data.
6. What is a MLS (Multiple Listing Service)?
A "multiple listing service" is the means of providing data and data exchange services to real estate professionals who are engaged in the business of listing and selling real estate every day. The information they submit to and obtain from Alaska Multiple Listing Service is the most current and accurate information available and makes Alaska MLS the true source of complete real estate data for the communities we serve.
As an information aggregator and data exchange company serving our members, data integrity is crucial. The professional staff of Alaska Multiple Listing Service goes to great efforts to structure, manage and maintain the most complete and accurate information at all times and to be sure it is always available to the real estate professionals in their respective communities.
In addition to warehousing, managing and facilitating the exchange of information between local real estate professionals, Alaska MLS also produces and disseminates volumes of comprehensive reports and detailed analytics directly to our participating members. Alaska MLS does not make these detailed reports available outside our membership, but is now posting a summary report (the Freeman-Reed Index) on www.AlaskaRealEstate.com which is the Alaska MLS public facing website. The Freeman-Reed Index Summary Report will provide consumers with insight to the overall current state of the market and year-to-year trending.
Alaska Multiple Listing Service has been serving the local real estate industry for over 53 years and is the most comprehensive and complete data base of current and previous market activity available in the State of Alaska.
7. Why is the full version of the Freeman-Reed Index not made available to the public?
The summary report that is now being made available for public view is a greatly scaled back offering to provide a broad overview of the overall market.
Alaska Multiple Listing Service will be making available a summary version of the Freeman-Reed Index on a monthly basis through local media outlets as well as on www.AlaskaRealEstate.com. This summary index report will provide a few key market indicators for the Anchorage and Mat-Su regions. Our goal in making this information available is to provide the local source data to better inform the public and provide context to information derived from outside of Alaska.
The statistical information offered in this summary report should not be used to assess any particular property, but rather is intended to reflect on the general health of real estate market as a whole.
Only real estate professionals have access to the source data and full version of the Freeman-Reed Index and are able to accurately interpret the specific market variations that affect a particular property and neighborhood.
If you are interested in understanding the real estate market, you should contact a local real estate professional to assist you in making the most informed decision for purchase or sale.
8. Is Alaska MLS a Real Estate Company?
No. We are a data base and technology company that serves the real estate industry. The staff of Alaska MLS is primarily IT professionals and technical support staff. We do not list, sell or lease property and are not open to the public for any services.
9. Where does the data come from?
Alaska Multiple Listing Service, Inc. is the working data base for the real estate professionals, and as such the data is input and maintained by approximately 400 member offices statewide, with over 1700 real estate professionals, contributing information to the system in near real time basis. Every new listing is then reviewed by Alaska MLS professional staff through our quality control process to ensure accuracy.
The member offices enter data on new listings, as well as on properties that have gone off the market as a result of a pending sale, closed sale, or properties that are withdrawn from the market or listings that are cancelled. Nearly every active property, as well as all off market data is housed in the Alaska MLS data base exclusively.
10. What areas does the report cover?
The summary reports that Alaska MLS is making available directly to the public are for two core areas; Anchorage and the Wasilla/Palmer core areas. The report for Anchorage is inclusive of all market activity within the Anchorage Borough. The Wasilla/Palmer report is derived from the core areas of Wasilla and Palmer including Meadow Lakes and other similar neighborhoods. We have chosen to omit data from the wider Mat-Su Borough in this report to give a better picture of core area.
We have detailed statistical information for most all communities in Alaska and that information can be obtained through your local real estate professional.