Can a snapshot tell us anything about 2007?
It’s not much of a photo, but after lots of tries I actually caught one burst of the modest fireworks displays I observed last night. It’s a new year…welcomed in today with more snow. I was up on Lazy Mountain where it looks like they got about twice as much snow as my area near Trunk Road.
In addition to the above snapshot, I thought I’d take a snapshot of the real estate market to see if it can tell us anything. I took a look at November of 2006 compared to November of 2005 See Market News for more about real estate trends. This is a comprehensive search of the Valley MLS system which includes data not only in Wasilla and Palmer but from Talkeetna and Trapper Creek to Sheep Mountain.
November of 2005 showed 265 closed residential sales at a median price of $208,000 which were on the market for 51 days. November 2006 showed 188 sales at a median price of $216,833 that spent 66 days on the market.
What does this mean to you? While we could use a lot more info to get the whole picture, it does seem to show that our red hot market has cooled a little. Prices are still up but sales are slightly down at the end of the year. However, when we look at the market news for all of 2006 we don’t see much of a drop in sales.