Archive for the 'Monday Market Memo' Category
Wasilla Real Estate News, Stats From June 7-13, 2010 June 14th, 2010
Wasilla Real Estate News presents the real estate statistics for the week of June 7-13. These are the statistics for residential property in the whole Mat-Su borough.
Well, we went over 900 homes on the market this week. The numbers have been steadily climbing and probably will be continuing to climb during the summer months.
There were 63 new listings that hit the market this week. Twenty four closings looks fairly healthy until you devide that number into the number of listings and realize that even at 24 closings a week, we have more than 9 months of inventory on the market. Still, we are a lot better off than the hurting real estate markets in the lower 48 where they have two years and more of inventory in a lot of places.
Average Price
Median Price
DOM
New
63
$281,552
$259,000
.
Total Active
900
$285,460
$245,000
125
Pending
32
$214,739
$210,000
88
Closed
24
$208,515
$212,500
98
Below are the statistics from the second week in June 2009 for a comparison. Note how everything is so similar, except for the closing data. We have twice the amount of closings for this past week than we had last year. We are still living off the housing stimulus. The properties purchased with the tax rebate needed to go into contract by the end of April and close by the end of June. I have one of those closing this week myself.
|
|
Average Price | Median Price | DOM | |
| New | 63 | $273,167 | $234,900 | . |
| Total Active | 916 | $290,315 | $239,900 | 133 |
| Pending | 27 | $227,133 | $215,000 | 69 |
| Closed | 14 | $217,986 | $222,500 | 83 |
Jay and I review the inventory every morning for our current clients. If you would like to be one of our buyers just let us know. We will help you find the property you need.
Based on information from AK MLS, Inc. for the period but not compiled or published by AK MLS, Inc. Data maintained by AK MLS, Inc. may not reflect all real estate activity in the market.
Wasilla Real Estate Market Memo March 16th, 2010
Real Estate Statistics for the week of March 9-15, 2010. These are the statistics for the whole Mat-Su Borough. But, that’s a little misleading because its onlly looking at the active market. If you look at the closed market you see that we are a little weaker this year than last. 2009 Closed sales year-to-date show 159 sales at a median price of $201,900. 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.
The market appears to be about where I would expect it to be, not real strong, but not real weak either. Compare it to last years memo from the same week here. You will notice that we have a lower inventory by just a little and we have almost the same median asking price. We are actually looking better on the total pending and closed for the week.
Average Price
Median Price
DOM
New
41
$297,708
$267,000
.
Total Active
744
$275,745
$239,650
145
Pending
24
$216,875
$217,450
65
Closed
12
$299,325
$186,950
111
2010 Closed sales year-to-date show 144 sales at a median price of $195,000.
So, even with the stimulus, things are a little weaker. It’s hard to tell how much effect the tax rebate stimulus package has had, but we will likely know by May. The deadline for taking advantage of the stimulus is April 30. You need to be in contract by that date, and you need to close by June 30. We will see what happens when that day passes.
Monday Market Memo Nov 3-9, 2009 November 9th, 2009
These are the statistics for the week for the whole Mat-Su Borough. The vast majority of this action takes place in Wasilla and Palmer but some of it happens out in the far-flung reaches that are only accessible by snowmachine and boat…or airplane.
The new listings shrunk again, go here to see why this phenomenon may lead to an opportunity for you. We will see the amount of new listings likely go into single digits as we approach the end of the year. There were more closings than new listings and as houses come off the market either because the sellers want to wait out the winter or because they are sold, the inventory shrinks for new buyers.
| Average Price | Median Price | DOM | ||
| New | 12 | $177,808 | $172,450 | . |
| Total Active | 768 | $277,760 | $235,000 | 158 |
| Pending | 13 | $254,108 | $219,000 | 99 |
| Closed | 22 | $209,925 | $196,000 | 71 |
The Federal Government has both extended the stimulusfor first time home buyers and added another stimulus for repeat buers. These are people who are not first time home buyers but are buying another house as their personal residence. This will likely move people into the market during these winter months.
There are some pretty good deals out there…you may want to get on my Deals Of the Week list to find out about them as they hit the market.
Based on information from AK MLS, Inc. for the period Nov 3-9, 2009 but not compiled or published by AK MLS, Inc. Data maintained by AK MLS, Inc. may not reflect all real estate activity in the market.
Wasilla Real Estate News for Oct 27-Nov 2, 2009 November 4th, 2009
These are the real estate statistics for Palmer, Wasilla, and the rest of the Matanuska-Susitna Borough for the week of Oct 27-Nov2, 2009.
This week included the end of the month which is always a high point for closings. This month was no different in that more than 30 closings took place. But the beginning on winter is showing in all other categories. New listings fell off a cliff with only 16 coming on the market for the week. Pendings were down a little and the total inventory dropped below 800 for the first time since May.
Over 1/2, (57%), of the 120 closings last month were under $200,000. That should be a wake-up call for the 527 homes on the market over that $200K mark. The higher the price of the home, the more agressive you need to be in your pricing compared to your competition. I had a client last week slash his price by 7 1/2 percent in one move…he got two offers in one week after only getting a showing a week for more than two months.
| Average Price | Median Price | DOM | ||
| New | 16 | $198,444 | $205,000 | . |
| Total Active | 772 | $278,716 | $235,500 | 154 |
| Pending | 24 | $229,303 | $206,000 | 112 |
| Closed | 38 | $210,238 | $184,000 | 85</strong |
So we have officially entered the winter season where activity begins to slow down. But I actually enjoy this season of real estate because we are dealing with serious sellers and buyers during this time of year. Buyers are generally not just shopping, they need a home for the winter. Sellers that are on the market in the winter are not competing against the half-hearted sellers who take their homes off the market for the Thanksgiving and Christmas seasons.
If you are looking to sell or buy, give me a call. I have been working in the Mat-Su Valley for almost 20 years helping people with their real estate needs. My phone number is 232-7900 and my email is [email protected] .
Based on information from AK MLS, Inc. for the period (date) through (date) but not compiled or published by AK MLS, Inc. Data maintained by AK MLS, Inc. may not reflect all real estate activity in the market.
Monday Market Memo for Oct 13-19, 2009 October 19th, 2009
These are the real estate statistics for the whole Mat-Su Borough for the week. The vast majority of the real estate activity takes place in the core are of Wasilla and Palmer but I include the whole borough in my numbers.
The inventory is shrinking but the rest of the real estate activity remains pretty normal. We are staring winter in the face while we bask in this warm fall. Winter will see a decrease in real estate activity, but it will not die completely. During the winter, there are serious buyers and serious sellers still keeping us Realtors busy.
| Average Price | Median Price | DOM | ||
| New | 26 | $243,442 | $237,500 | . |
| Total Active | 834 | $284,285 | $238,000 | 157 |
| Pending | 26 | $223,649 | $202,885 | 97 |
| Closed | 22 | $203,672 | $201,250 | 55 |
November 30 is the last day to collect the $8,000 tax credit for first time home buyers. If you haven’t closed your house by then, you don’t get it. It may be extended, but I kind of doubt that the government will be willing to pay the huge cost to continue to stimulate first time home buyers.
The Alaska Housing rebate for energy efficient homes continues. Five Star Plus energy rated homes qualify for a $7,500 rebate…you get a check from the state of Alaska after closing. If you are looking for a house that qualifies, I have a list of them, let me know.
Based on information from AK MLS, Inc. for the period but not compiled or published by AK MLS, Inc. Data maintained by AK MLS, Inc. may not reflect all real estate activity in the market.
Marty Van Diest, Tele 907.232.7900 / marty[at]valleymarket[dot]com
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