Alaska Airlines Fall Award Sale: Starting at 5,000 Miles Each Way
In addition to the current 40% buy miles bonus, Alaska Airlines is offering a fall award sale with flights starting at just 5,000 miles each way.
The fare sale is for flights between select cities booked by 11:59 pm Pacific Time on September 13, 2015, for travel between September 9 – December 16, 2015. Some blackout dates apply from November 20 – December 1. Fares are non-refundable and are only available on Alaska Airlines flights, so unfortunately, partner flights don't count.

You can go to the sale page to see specific redemption requirements for cities you're interested in, but I pulled up a few examples.
Instead of 12,500 miles each way, Seattle-Oakland is just 5,000 miles:

Award availability on that route is pretty spectacular:

Instead of 12,500 miles each way, Los Angeles to Portland is just 7,500 miles:

Instead of 17,500 miles each way, Los Angeles to Cabo is just 12,500 miles:

Perhaps the most impressive savings is that instead of 20,000 miles each way, flights from San Jose to Kona, Hawaii, are just 12,500 miles:

There are some great deals here that can save you up to 7,500 miles each way, but you need to act quickly. Although there is currently plenty of award availability, there are limited numbers of award seats and the availability is likely to dry up as folks start booking. If you already know your travel plans for the fall and have the Alaska miles to book them, do so sooner rather than later!
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