Alaskans won 81 pieces of state land, from $255,000 in Big Lake to a $7,500 cabin site

Seventy-one Alaskans won 81 pieces of state land in this year's resident-only auction. The top bid was $255,000 for 40 acres in Big Lake. The lowest was $7,500 for a remote cabin site on the Chitanana River, reachable by boat or snowmachine, with no utilities.

The parcels cover 869 acres, and the winning bids total $3,280,531, the state Department of Natural Resources said Monday. Half the parcels went for about $33,000 or less.

Bidding opened in June and closed Sept. 30, and the state opened the sealed bids Oct. 21. Only people who had lived in Alaska for at least a year could bid, and no one could win more than two parcels. Each parcel had a minimum bid based on its appraised value.

The two highest bids were for 40-acre parcels in the Hawk's Landing subdivision, 11 miles west of Wasilla. The $255,000 parcel is on paved W Hawk Lane, with electricity and natural gas next to it. Its minimum bid was $228,000. The other, reached by a gravel road and about 1,100 feet from power, sold for $175,000, against a $168,000 minimum.

Some bids ran well past the minimum. Almost 60 acres about 9 miles east of Fairbanks, north of Chena Hot Springs Road, sold for $100,000, about 40% more than its $71,500 minimum. A 19-acre parcel at Kupreanof Shores, about 35 miles northwest of Kodiak and reachable by boat or floatplane, went for $91,000, against a $69,200 minimum.

The Mukluk subdivision in Tok sold more parcels than anywhere else: 15, for $21,420 to $62,399 each.

The auction drew fewer bids than the last two: 197, compared with 350 in 2025 and 452 in 2024. It also sold fewer parcels than either year, 81 compared with 99 and 121. But this year's parcels covered more land. The 2025 sales totaled 707 acres, and the 2024 sales 729.

About 152 parcels were offered. Those that drew no bids may go on sale Nov. 18 at 10 am through the state's Over-the-Counter program, where anyone can buy, including nonresidents and businesses, first come, first served. Prices start at 30% above appraised value, drop to 15% above on Dec. 2 and fall to appraised value Dec. 16. The auction page has the full results.

The state finances its own sales, with 5% down and interest at 3% plus the prime rate. Buyers get up to 20 years to pay on purchases of $20,000 or more, under DNR's financing terms. Land is sold as is, and the state keeps the mineral rights. Buyers can't start developing a parcel until the state issues the sale contract, or the patent for those who pay in full.