Wasilla Real Estate, Monday Market Memo Oct 6-13-2008 | Wasilla Real Estate News, Valley Market Real Estate

Wasilla Real Estate, Monday Market Memo Oct 6-13-2008 October 14th, 2008

Wasilla Real Estate statistics for the week of Oct 6–13, 2006. These statistics include all residential real estate in the Matanuska Susitna Borough. That is a large area, about the size of the state of West Virginia. The vast majority of real estate activity takes place in the core area around Wasilla and Palmer.

		Average Price	Median Price	DOM
New	42	$248,922	$222,450	.
Total Active	847	$293,464	$244,900	135
Pending	23	$228,037	$214,000	149
Closed	16	$181,863	$182,450	46

As you can see, closings were down last week but there were more new listings than I expected to see. It actually increased our inventory slightly during a time of year when we expect the total inventory to slowly decline throughout the winter.

Notice the low average and median price for this weeks closed listings. I thought that the low price might be influenced by foreclosed houses. After reviewing all 16 houses I determined that only two were foreclosures. Three of the closed houses were new construction. That shows that we still have a vastly different market than many of the foreclosure influenced markets in the lower 48.

Written by Marty Van Diest Please leave a comment.

This entry was posted on Tuesday, October 14th, 2008 at 12:15 am and is filed under Monday Market Memo. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.