Monday Morning Market Memo, Jan 21-28, 2008

Real Estate Statistics for Wasilla, Palmer, and the Matanuska-Susitna Borough.  These are residential single family home statistics are for the week of Jan 21–28, 2008.  These do include all single family homes including remote cabins in the borough. 

The vast majority of all sales are in the core area of Wasilla, Palmer.

Average Price DOM
New 27 $251,154 .
Total Active 689 284,646 162
Pending 27 $214,594 131
Closed 16 $210,918 126

The total active listings only increased by one this week.  I still expect it to increase substantially but the inventory has not risen much at all in January.  It will increase as spring rolls along and people plan to sell their homes to move in early summer.

We had exactly the same amount of new listings as we had pending so stayed pretty much even for the week.  This is the second week in a row of low closings.  This will increase as well as we go into spring.

The average time on the market has risen slowly over the last few months.  I actually expect that to drop this spring, at least for closed sales.  That is because there will be new listings hit the market that will be priced to really sell.  I have had several people tell me that they tried to sell their homes last year but weren’t able to.  They are going to do whatever it takes to get them sold this year.