Wasilla Real Estate News, Monday Morning Market Memo

8/20/2007–8/27/2007

Here are the statistics for the week for Mat-Su Real Estate.  The market seems to be steadily moving along at pretty much the same pace we have seen all summer.  There is a large inventory but still an active buyers market.  Then inventory grew again.  I would expect it to begin to drop sometime this fall.

The following data box is for Residential Single Family Homes in the Matanuska-Susitna Borough.

Average Price DOM
New 49 $249,135
Total Active 1011
Pending 30 $246,358 85
Closed 31 $235,895 67

I am using data from the AK MLS since last week so we don’t have a straight line from the data I used previously.  As mentioned in a previous post the data currently available is spotty.  I will be working this week to sort through it and come up with some accurate numbers. 

These statistics do give us a good idea of the trends, however.  And they seem fairly steady.

I have added another data set below for Vacant Land.  I will to continue this data in future memos to track what is happening in that market.  This gives us some idea of future new construction.

This info is for vacant land in the Wasilla area only.  Notice the large inventory in relation to the amount of pending and closed sales.  In both the pending and closed sales boxes the average price was influenced by one high priced parcel.  Otherwise the average would have been about $10,000 lower for both closed and pending.

This data box is for Vacant Land in Wasilla

Average Price DOM
New 6 $55,000
Total Active 745
Pending 4 $35,072 101
Closed 5 $65,600 113