Wasilla Real Estate News, Monday Market Memo for April 14,2008

Wasilla Real Estate statistics, including Palmer and the whole Mat-Su borough for the past week.

The market appears to be holding steady. There are more new listings, as expected in the spring.  The new pending and closed sales have been almost the same for the last 2 months. The following chart shows the stats for this week.

 

Average Price DOM
New 58 $270,641 .
Total Active 775 281,549 140
Pending 31 $210,896 76
Closed 20 228,368 49

A very interesting phenomenon this week the stark difference between Days on Market, (DOM), for the pending and closed sales compared to the total active listings. I also notice that a lot of homes on my motivated sellers list turned up in the pending list this week…obviously they were good picks. I’m still updating the next one…it should be done soon.

Once more it is obvious that there are two markets out there.  There are 775 homes on the market with only 30 buyers a week willing to write offers on them.  Obviously, they only shop the houses that are priced and presented right, the other houses keep racking up DOM.

To get into the pending or closed category requires both price and presentation.  There are only so many homes that a buyer can see.  I showed 13 homes yesterday priced from $280,000–$380,000.  We started at 1 PM and didn’t finish until 8:30PM.   I don’t usually work on Sunday, but these people had come from outside and had a limited time schedule.  We found a couple interesting homes, but one was obviously priced better than the rest.  Guess which one interests them.