Current inventory here in South Central Alaska is at the lowest point I've seen in my ten years of real estate.  In any given price point the select is very slim for buyer.  I remember when I moved back to Alaska in 1999, I encountered a similar market.  I was only able to look at a dozen homes that fit my criteria and budget.  I looked from South Anchorage to Chugiak to finally find a home.

This creates certain market dynamics that would lead a seller to believe they can get whatever they want for their home.  This is somewhat true, but they should be cautious.  Buyers can only afford so much, and interest rates are rising; a full point over last year.  This takes $30,000 out of a buyers buying power at the $300,000 range.

So is the market going to go up in value, but down in the number of homes sold? Yes, that is what is going to happen for some home owners selling.  Many will try to raise their asking price too high. The smart seller will price their home approximately $10,000 below their immediate competition.  This makes their home look very attractive to prospective buyers, and usually results in a quicker sale.  the seller that does not do this, has their home sit on the market as new smart home owners come on the market just below them.  These home usually attract the buyers currently in the market, and sell rather quickly as well.

My advice is not to get greedy.  It's better to sell quickly at a lower price then hold out for that buyer that will pay your price.  If you can find them.