Monday Morning Market Memo, 1/30/07

Jan30Monday Mornings Market Memo for the week of 1/22/07–1/30/07. 

This is looking at all the Mat-Su Borough as a whole, not just  Palmer, and Wasilla Real Estate. Using the MLS system here are the statistics for the last week.

     Average Price  DOM
 New 45 $224,750   
 Total Active  732 $249,843  118
 Pending  21 $190,008 91
 Closed  15 $210,485  71

There are currently 732 houses on the market, up from 702 from last week.  You would expect the inventory to grow as we move into spring.  We would also expect the pending sales to grow as well. There are 45 new listings compared to 62 last week. 

We pended 21 homes and closed 15

Of all the residential homes on the market, 47 are cabins which generally means a small structure with no plumbing.  There are 56 condos and 10 mobile homes.  So there are 619 residential single family homes.  The average prices are all based on the single family homes, after eliminating all the rest. 

There were six more “to be builts” added to the market this week. 

A large change compared to last year at this time is the amount of time it takes to close a deal.  Appraisers and inspectors are not as busy as they have been in the past so we have fewer delays.  In fact, it would not be real unusual to close a transaction in 2–3 weeks right now compared to 6 weeks last year.

The graph at the top is a thumbnail click on it to enlarge. It has a one month delay to allow all the data to come in before displaying.  It is from the Alaska MLS System and has this disclaimer regarding the statistics. 

“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. “