Absorption Rate in Wasilla and Palmer May 9th, 2009
Almost exactly a month ago I took a look at the absorption rate for Palmer and Wasilla. Last months post for comparison . It’s good to take a look at these numbers once in a while to try to see trends.
Spring has definitely sprung for Mat-Su Valley Real Estate. At least it is looking up for sellers. It is not really a buyers market for anything except for houses over $400,000. That is….if you use the accepted definition of a greater than 6 month absorption rate.
| Price Range | Residential Properties On The Market | Pending Sales Last Month | Absorption Rate # Of Months It Will Take To Sell |
|---|---|---|---|
| $200,000 and below | 143 | 38 | 3.8 Months |
| $200,001 to $300,000 | 289 | 46 | 6.3 Months |
| $300,001 to $400,000 | 80 | 17 | 4.7 Months |
| $400,001 to $2,000,000 | 78 | 2 | 39 Months |
| Totals | 590 | 103 | 5.7 Months |
These days, if a house is priced right it will sell.
Still, there are a lot of houses on the market that aren’t even getting showings. Those sellers need to change their price, it’s as simple as that.
I recently took my own advice on selling my house. I believe that I could have gotten more for my house and that the appraisal will likely be higher than the sales price. But my goal was to sell my house and not just use it for a sign post. It sold in 17 days. It will close by the end of May. The money I left on the table is worth the price of getting the job done.
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Marty Van Diest, Tele 907.232.7900 / marty[at]valleymarket[dot]com
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[...] can look good or bad depending on how you use them. In the Absorption Rate studies I have been doing, I have only been looking at the last months sales compared to the current [...]