Monday Market Memo for 4/7/08
Wasilla Real Estate Statistics
for the week of 3–31–2008 through 4–7–2008.
Stats for Wasilla, Palmer, Houston, Big Lake, Sutton, Chickaloon, Willow, Talkeetna, Trapper Creek and all the rest of the Matanuska-Susitna Borough.
This past week has been humming along at about the same rate as the month of March. The market activity is better than the winter months have been, but it is significantly less than this time last year. We seem to have a lot of people looking at homes, but not as many actually buying.
As you can deduce by looking at the chart above, the houses that are selling are the ones in the lower price ranges. The average house on the market is price a lot higher than the houses that are selling.
That means that the competition in the higher price ranges is fierce. In fact for year so far, houses over $300,000 have been only 8% of the total sales while they consist of 30% of the total inventory. The only houses over $300,000 that are selling are the ones priced very competitively and that are presented very effectively.
Click on the chart to the right to see the MLS stats for the last 2 years. Notice especially the bottom line. this is the line showing total sales for every month. We are still waiting for a significant bump in sales for this spring. I believe it will come…but it’s not here yet.
Kristan Cole has some good stats over on her site here. She shows that the total sales are down almost 30% from last year. Total volume is also down, as is the average sales price. The only thing that I might disagree on is her number of a -3% appreciation. I don’t have enough information to say that yet.
Even though the average sales price per home is down, that doesn’t say that the average value of each home sold is down. It just shows that we are selling more homes in the lower price ranges and fewer in the higher price ranges. We still don’t have enough real data to tell if values are going up or down. But my opinion is that the lower price homes are appreciating slightly and the higher priced homes are doing the opposite.
If you would like help buying or selling…give a call. My cell number is 907 232–7900.