by Denise Marie Anton

Created on: April 26, 2009   Last Updated: May 14, 2009

Nestled between breathtaking mountains and picturesque bays, Anchorage is known for its spectacular natural beauty and mild climate. Founded in 1915 as a railroad construction camp, Anchorage today is the largest city in Alaska. Many of its 280,000 residents work in the oil industry or the U.S. military.

Elsewhere in the West, widespread foreclosures have driven home sales prices down. Not so in Anchorage, one of the few U.S. cities where home prices are actually rising. According to The Associated Press-Re/Max Monthly Housing Report released in April, the median home sales price in Anchorage in March 2009 was $242,500, up nearly 8 percent from the previous year. But that figure was still lower than the median sales price for homes in the West as a whole, which despite steep declines was at $252,400 in March 2009, according to the National Association of Realtors.

If you're considering buying a house for sale or foreclosure in Anchorage, you'll want to look beyond the numbers and get to know the city's neighborhoods. Some of the more popular neighborhoods in Anchorage are Sand Lake, Turnagain, Bayshore-Klatt, Northeast, and Scenic Foothills.

Sand Lake

Built around the shores of 78-acre Sand Lake, this neighborhood features single-family homes, most dating from 1960 to 1980. Nature-loving Sand Lake residents can enjoy fishing and kayaking in the trout- and salmon-stocked lake, or visit 1400-acre Kincaid Park, which boasts the largest moose population in Anchorage.

Turnagain

Just north of Sand Lake along Cook Inlet, Turnagain is a neighborhood of more moderately priced homes near the busy Anchorage International Airport. It is home to Earthquake Park, built on the site of the "Good Friday" earthquake that hit Anchorage in 1964 and a constant reminder that in Alaska, nature still has the upper hand.

Bayshore-Klatt

The spacious newer homes of upscale Bayshore-Klatt, about a third of them built within the last 10 years, tend to attract attention from architects, engineers, and other professionals with an eye for design. Listing prices of homes for sale in Bayshore-Klatt tend to be among the highest Anchorage, but the occasional bargain can still be found, particularly among the foreclosures.

Northeast

If you're looking for affordable housing in Anchorage, the Northeast neighborhood may just fill the bill. Housing prices in Northeast are below the average for Anchorage, and the neighborhood's proximity to Fort Richardson and Elmendorf Air Force Base makes it an attractive option for military personnel and their families.

Scenic Foothills

Just south of Northeast, Scenic Foothills is a small neighborhood of moderately priced homes. About a quarter of the housing in Scenic Foothills consists of condos, making it a popular neighborhood for retirees and young couples without children. Most of the housing in this area was built in the 1970s and 1980s.

Whether you're looking for a single-family home or a condo, with access to outdoor recreation or urban amenities, Anchorage offers a broad selection of houses for sale and foreclosures to fit your lifestyle and budget.

Learn more about this author, Denise Marie Anton.
Click here to send this author comments or questions.