Monday Real Estate Stats, 3/26/2007
These statistics are for real estate in all of the Matanuska Susitna Borough. This includes Wasilla and Palmer real estate. The chart below is for the week of March 19–26, 2007. The indications for this week are pretty healthy for sellers anyway. Compared to lasts weeks memo the numbers indicate more pending sales and closed sales, higher average prices and a lower total inventory.
If this keeps up, it could turn into a sellers market again. You buyers might want to step off the sidelines into the fray while interest rates are still attractive. As I said in this post, a 1% hike in interest rates will cost you quite a bit over time.
I get a weekly mortgage update from Alice Roe of US Bank in Arizona. You might want to call her to compare loan costs. Her number is (800) 839–4025 ext 5565. Tell her Marty sent you. Her update shows that interest rates rose last week by about 1/8%. Buyers already in contract may want to discuss with their lenders the option of locking their interest rates.
Notice the Alaska MLS chart to the right, (click to expand). It shows that the February inventory is a little less than February of last year. We had a spike last month but it looks like real estate in the Mat-Su remains healthy while much of the rest of the nation is hurting.
Check out some of the past market memos for comparisons.
AlaskaMLS disclaimer…“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. “