Monday Market Memo, 4/2/2007 April 2nd, 2007
Spring has sprung, at least for Wasilla Real Estate and the whole Mat-Su Valley. Even though the air was still chilly this morning, the market is heating up. Just take a look at these two charts below. The first is for this week and the second is for the previous week. That’s quite a difference in just one week.
| Average Price | DOM | ||
| New | 58 | $261,691 | |
| Total Active | 700 | $300,634 | 104 |
| Pending | 49 | $222.261 | 72 |
| Closed | 30 | $236,052 | 84 |
| Average Price | DOM | ||
| New | 48 | $290,665 | |
| Total Active | 762 | $299,805 | 108 |
| Pending | 21 | $234,048 | 80 |
| Closed | 22 | $201,864 | 78 |
In addition this chart from Alaska MLS shows a lower inventory, which if it keeps up will mean higher house prices in the coming months. Click on the chart to expand. The thing that could cool things down would be sharply higher interest rates. But so far, interest are only moving upward slowly.
So sellers are beginning to put their houses on the market, and they are selling. They still have to be priced competitively, but when they are, the buyers are waiting.
More reading.
Ted Jones on Valley real estate
Niel Fried on the valley economy
“This representation is based in whole or in part on data supplied by, and to, the subscribers of Alaska Multiple Listing Service, Inc. (AK MLS, Inc.). AK MLS, Inc. does not guarantee nor is it in any way responsible for its accuracy. Data maintained by AK MLS, Inc. is for its own use and may not reflect all real estate activity in the market. “
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Marty Van Diest, Tele 907.232.7900 / marty[at]valleymarket[dot]com
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[...] The market is continuing its upward trend in sales and inventory. This looks like a normal spring trend in sales. There are more new listings and more pendings than we have seen all spring except for last week. One week does not make a trend, but two weeks at least starts one. [...]