Wasilla Real Estate, Monday Morning Market Memo 5-7-2007

Better get this out while it’s still Monday Morning.  The jury is still out on Wasilla Real Estate, but otherwise this first week of May has been fantastic.  Leaves are out, it’s been sunny and warm.  Well it’s a little wet right now, but lets not let a little rain ruin the spring.

The statistics below are from the Mat-Su MLS system for the past week.  We have broken a record for the year with the amount of new listings.  If we keep adding listings at this rate we will surely drive up the inventory.  As it is, the inventory has taken a sharp upturn recently.  Look at the past Market Memos for comparisons.

     Average Price  DOM
 New 70 $269,080   
 Total Active 768 $306,268  102
 Pending  45 $243,667 90
 Closed  27 $261,965  86

I did notice that about 10 of those new listings are “to be builts” by a couple of different builders.  A “to be built” listing is a phantom house.  It really isn’t there at all, and may never be built.  It is just a builder advertising that they can build a house like the one listed on that particular lot for that price.  If you want a different house on the lot, or the same house on a different lot, you can do that as well.  The builder and his/her Realtor is just hoping that you call.

Take a look at the chart to the right.  This is showing that the average sales prices for the Wasilla area have been essentially flat and perhaps a little down for the year.  Wasilla Average Sales Prices At the same time the Mat-Su Borough tax assessments have risen dramatically.  I would say that overall right now, the borough assessments are about at market level.  I have several houses listed for less than the borough assessed value. 

Give me a call if you would like a market analysis of your home.  232–7900