Monday Market Memo, 4/2/2007

Spring has sprung, at least for Wasilla Real Estate and the whole Mat-Su Valley.  Even though the air was still chilly this morning, the market is heating up.    Just take a look at these two charts below.  The first is for this week and the second is for the previous week.  That’s quite a difference in just one week.   

   Average Price DOM
 New58$261,691  
 Total Active700$300,634 104
 Pending 49$222.26172
 Closed 30$236,052 84

 

   Average Price DOM
 New48$290,665  
 Total Active 762$299,805 108
 Pending 21$234,04880
 Closed 22$201,864 78

 

April2mlschart

In addition this chart from Alaska MLS shows a lower inventory, which if it keeps up will mean higher house prices in the coming months. Click on the chart to expand. The thing that could cool things down would be sharply higher interest rates.  But so far, interest are only moving upward slowly. 

So sellers are beginning to put their houses on the market, and they are selling.  They still have to be priced competitively, but when they are, the buyers are waiting.

More reading.

Previous market memos

Ted Jones on Valley real estate

Niel Fried on the valley economy

“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. “