Archive for the 'Monday Market Memo' Category
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.
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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.
Wasilla Real Estate…Monday Market Memo, Sept 29-Oct 6, 2008 October 6th, 2008
These are the Wasilla and Palmer real estate statistics for the week of September 29 through October 6. These numbers include all the real estate transactions on the MLS from Talkeetna and Trapper Creek in the North to Sutton and Glacier View in the East.
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Average Price | Median Price | DOM | |
| New | 24 | $263,929 | $219,950 | . |
| Total Active | 841 | $294,484 | $242,900 | 135 |
| Pending | 28 | $219,574 | $204,650 | 129 |
| Closed | 41 | $216,210 | $219,000 | 53 |
While the new listings low for the second straight week, the closed sales are high for the second straight week. At the end of the month it is common for many people to get their deal closed.
As we go into winter time we are will see the inventory shrink. Many of the homes on the market have been there for a long time and have become stale. This is a good time to put a well priced home on the market. It stands out as a new listing and a good price.
As usual, the strongest market is in the low 200K range. Good houses in this price range find a lot of interested buyers. If you are looking for a house in this range, give me a call. 907 232–7900 or drop me a line at [email protected]
Monday Market Memo 9-22 through 9-29 2008 October 1st, 2008
Wasilla and Palmer real estate statistics. These statistics are for single family residential homes in the whole Mat-Su Borough. The vast majority of real estate transactions take place in the core area of Palmer and Wasilla.
The inventory is dropping drastically as we head into winter. I expect the total inventory to be under 800 by November and it might get into the 600s by January.
Although the inventory dropped, the pendings and closed sales were healthy this week. I personally have been very busy this week with residential sales. I would say that other people have been busy as well based on this weeks numbers.
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Average Price | Median Price | DOM | |
| New | 48 | $308,434 | $224,500 | . |
| Total Active | 856 | $295,434 | $244,950 | 135 |
| Pending | 33 | $239,000 | $239,000 | 71 |
| Closed | 42 | $202,310 | $205,000 | 96 |
Notice the huge discrepancy between average price and median price for new listings…that’s because of this one listing for almost $3,000,000. It has 766 acres of pure wilderness.
The charts below are the latest from the Alaska MLS. Click on them to expand.
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.
Wasilla Real Estate Monday Market Memo 9-15 through9-22-2008 September 22nd, 2008
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.
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Average Price | Median Price | DOM | |
| New | 34 | $250,854 | $251,950 | . |
| Total Active | 898 | $290,052 | $239,900 | 132 |
| Pending | 30 | $186,589 | $187,200 | 70 |
| Closed | 26 | $217,854 | $230,640 | 72 |
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.
Wasilla Real Estate, Monday Morning Market Memo for 9/1-9/8/2008 September 8th, 2008
Wasilla Real Estate News statistics for the whole Matanuska-Susitna Borough. These statistics cover everything from Talkeetna-Lake Louise. But at least 80% of all real estate activity takes place within a 30 mile radius of the Parks/Glenn Highway intersection.
The numbers are all going in a downward trend. It looks like we may be heading into winter mode. The numbers in every category are lower.
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Average Price | Median Price | DOM | |
| New | 37 | $338,590 | $259,000 | . |
| Total Active | 907 | $287,455 | $239,500 | 128 |
| Pending | 29 | $194,452 | $179,900 | 91 |
| Closed | 24 | $226,906 | $237,675 | 106 |
Notice the big difference between average price and median price for New Listings. There were two houses this week that hit the market for more than $1.5 million. Those two houses skewed the average price by almost $80,000.
I wondered a couple weeks ago whether Sarah Palin’s Vice Presidential candidacy would do anything to the our local real estate market. So far it is helping the hotels and B&Bs as reporters and lawyers come to town.
The only thing that has happened to me personally is a call from a man in Beverly Hills. I believe he was hitting the sauce, but basically he said that he has been watching Palin on TV and if that’s the kind of women we have up here…he’s moving up!
Marty Van Diest, Tele 907.232.7900 / marty[at]valleymarket[dot]com
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