Monday Morning Market Memo, 2/12/07

Wasilla real estate inventoryMonday Mornings Market Memo for the week of 2/05/07–2/12/07. 

The graph to the left 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. Note the sharp increase in inventory.

 “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 graph below is for all the residential realestate on the Multiple Listing Service for the Matanuska Susitna Borough for just this past week.

     Average Price  DOM
 New 44 $237,670   
 Total Active  721 $289,754  115
 Pending  23 $224,700 49
 Closed  16 $182,858  118

There are currently 721 houses on the market, considerably more than last week.   We would expect the total amount of listings to grow and the pending sales to grow as well. There are 44 new listings compared to 41 last week. 

There were only 16 closed residential sales in the whole Mat-Su Valley.  This does not count lot sales.  Let’s think about that a little bit.  There are more than 400 real estate licensees in the Valley and more than 2000 in Anchorage.  Three of those closings were with Anchorage licensees so that only leaves 13 to split among the valley Realtors.  If all of the 13 were cooperative transactions, (and you can assume that isn’t true), then only 26 licensees had paydays last week  The reality is that only about 20 Realtors were paid last week  Wanna get your real estate license?

It appears that the days on the market (DOM) is growing in every category except closings.  Closed homes have shorter days on the market for two reasons  A few of those are pre sold homes so they were already sold before they were built, they closed as soon as they were finished.  They are the ones that were priced right and sold quickly. 

We pended 23 homes and closed 15. We actually pended a few less than the week before  However I have received offers on two of our listings last week and have good activity on two more, I expect them both to pend this week  So I still feel that the market is picking up, or perhaps it’s just picking up for us.

With absolutely no data to back me up, it seems that the market is accelerating into our normal spring rush.  See my Thursday post about the sun rising on real estate.

Check out the other articles in the “Monday Morning Market Memo” category to the right for comparisons.