Wasilla Real Estate News, Valley Market Real Estate

Wasilla Real Estate, Price per square foot year over year September 26th, 2008

Categories: Market Trends

Yesterday I took a look at the average and median price for Matanuska-Valley homes over the last few years.  I updated that post so take a look at it again.  These are statistics from Jan1–Sep 26 for the years shown.

It basically showed that while the total volume of homes sold has dropped this year, the average price has not dropped significantly.

I wondered if we were missing some information.  I thought that while the average price of the homes actually sold had remain constant, perhaps people were getting more house for the same amount of money.

So today I took a look at the median price per square foot. I was surprised that it tracks right along with median house prices.  In other words. the median sales price is remaining essentially constant as is the price per square foot over the last three years.

Here it is, the price per square foot is the last column.

You can see the fairly rapid increase in prices from 2004–2006 when appreciation essentially stopped.  If we were to go back further, we would see a steady increase in prices all the way back to 1991.  The increase was generally about 3 percent or so per year, but in the early 2000s appreciation was more rapid. 

Written by Marty Van Diest 1 Comment »

Wasilla Real Estate Statistics Year To Date….How are we doing? September 25th, 2008

Categories: Market Trends

I thought I would take a look at the health of our market so far this year.  We are almost 3/4ths through the year so this should give us some idea of where we are.

Below are the numbers for the year so far from Jan 1–Sep 26.  This is compared with the very same dates for the previous four years.

Note the median price…it has remained essentially the same for the last three years.  If you bought your house in 2006 it should be worth about the same now.  One thing that we should look at is the actual dollar per square foot over the same time period.  I think I’ll save that for tomorrow.

The total sales are down this year by 22% so far.  Last year only had a 9% reduction from the previous year.  If the volume of sales remains low, there will be downward pressure on prices.  But so far…prices are holding up.

Notice Days On Market, (DOM).  It has increase every year but still seems rather low.  The median DOM is for homes that have sold.  That is entirely different than the 94 DOM for 893 houses currently for sale.

While there are 893 homes currently for sale in the Matanuska-Susitna Borough, there are only 1,114 in Anchorage, a city with about 5 times our population.  Many people have to settle for one of the 500 or so condos on the Anchorage market.

Written by Marty Van Diest 2 Comments »

Palmer Alaska, 10567 N Wolverine Road September 23rd, 2008

Categories: Sold Listings

This property is sold.

The nicest lakefront property in the Matanuska Valley?  I’m not certain but its surely one of the the very best.  Wolverine Lake is full of wild rainbow trout and frequented by all kinds of wildlife.

It sits at the end of Wolverine Lake just outside of Palmer.  Even though it’s only a 20 minute drive to Palmer, this 4.5 acre lot is at the edge of the civilization.  Just across the lake are the Chugach Mountains which are pure wilderness. 

This property has a maintained year around road, electricity and phone.  There is a small one room cabin on the overlooking the lake and a log sauna.  All for only $175,000. Click on photos to enlarge.

Give me a call if you would like to know more about it.  My cell is 907 232–7900.

Take a look at this google map…you can see that Wolverine Lake is long enough for a float plane.

And here is the Mat-Su Borough map showing the shape of the parcel. Click on it to enlarge.

Written by Marty Van Diest 3 Comments »

Wasilla Real Estate Monday Market Memo 9-15 through9-22-2008 September 22nd, 2008

Categories: Monday Market Memo

Here are the real estate statistics for residential sales in Wasilla, Palmer, and the rest of the Matanuska-Susitna Borough.

We have gone below 900 in total inventory on our way down for the winter.  It is a common perception that winter is a poor time to sell.  While it is true that there are fewer buyers, the buyers are serious. They want to get out of the snow and cold.  And there is less competition.  A lot of the homes on the market are hold overs from the warmer season so a new listing in winter generally gets a lot of attention.

Notice the low median price for pending sales this week.  There were several cabins and mobile homes included in these numbers.  There were also several foreclosures in very poor condition that pended.

On the other hand, this past weekend was pretty busy for us and several other realtors that I talked to.  There are a lot of offers coming in on houses that have been on the market awhile.

Written by Marty Van Diest Please leave a comment.

Wasilla Alaska, Monday Market Memo 9-8 through 9-15-2008 September 15th, 2008

Categories: Wasilla Real Estate News

This report includes Wasilla, Palmer, Talkeetna, Trapper Creek, Willow, Houston, Big Lake, Meadow Lakes,Knik, Skwentna, Sutton, Chickaloon, and all points in between.  Did I miss any communities?

Wow…the total closed sales for the week was only 18.  Those are mid-winter numbers.  Pending sales are about the same as last week.  The total inventory dropped a little and will probably continue to drop through December and maybe into January.

I’m not sure what effect the fall out of the big bank problems will have on the real estate industry.  It may make it more difficult to get a loan.  But one thing is different.  Rates are below 6%.  If you were going to lock in a loan…go ahead and do it now.

The Alaska market is still puttering along better than most places in the country.  Prices are NOT going up so don’t count on getting more for your house than you purchased it for in 2005.  They are holding about steady so far.

I have been receiving more inquiries about moving to Alaska that seem to be tied to Governor Sarah Palin.  Alaska is in the news.

Written by Marty Van Diest Please leave a comment.