Wasilla Real Estate, Monday Morning Market for the week ending 9/24/2007

Wasilla Real Estate News

Monday Market Stats

Here are the statistics for the Wasilla and Palmer Real Estate Market for this week.  These figures actually show the numbers for the whole borough from Mat-Su Borough. 

Our pending sales have been in the low twenties now for the last two weeks.  We normally see a small bump in real estate after the Permanent Fund Dividend checks come out.  That will happen in October.  It will be interesting to see what happens.

Average Price DOM
New 36 $270.442
Total Active 975
Pending 21 $207,894 72
Closed 26 $244,937 64

I notice that the pending sales this week averaged just over $200K.  The closed sales are still quite a bit higher.  With the new retail stores going in we will have more jobs in the area.  I would assume that these jobs will not raise the average household income in our area by much if any.  They affordable home for the average household remains about $200,000. Click here for an explanation of affordability in the Mat-Su Borough.


Mortgage Rates This Week

Last week the Federal Reserve dropped their interest rate…what happened?  Mortgage rates went higher!  I was quoted 5.875% on a 30 year fixed on September 14, that same loan had risen to 6.375% on Sept 21.

For a good explanation of why this happened click here.