Monday Morning Market Memo, Jan 28-Feb 4, 2008

Wasilla Real Estate Statistics, Palmer Real Estate Statistics, and Mat-Su Real Estate Statistics.  These are the statistics for the whole Mat-Su Borough.  The vast majority of real estate sales occur in the Wasilla, Palmer and Big Lake areas so these make up most of the numbers.

Average Price DOM
New 32 $275,819 .
Total Active 671 285,158 159
Pending 15 $214,845 157
Closed 27 $199,304 112

An interesting change that I did not expect is that the total inventory actually fell for the week.  In addition, there are fewer houses on the market right now than there were last year at this time. 

The average prices are higher across the board and the amount of houses selling per week is similar.  The only thing that looks less positive is that the Days on Market, (DOM), is up significantly.  In fact, DOM is almost 40% longer than it was last year at this time.

The chart below from Alaska MLS gives a good two year overview. It shows that our market is not making any major changes.  The same seasonal fluctuations are occurring that are normal for our Alaska Market.Akmlschart Click on the chart to enlarge.

You will notice that in December there were actually more sales than there were new listings.  The bottom line is that it appears Alaska is not experiencing the real estate crashes that are seen in other parts of the country.  As long as the oil price stays high, I expect that this will continue. 

If you would like more detailed information about particular areas of the Mat-Su Borough, or certain types of homes, give me a call.  My cell phone is 907 232–7900

 

 

AlaskaMLS disclaimer…“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. “