Wasilla Real Estate…Then And Now

These statistics are for the Palmer and Wasilla core areas.  This includes all the area between Palmer and Wasilla and also Meadow Lakes and  the Knik-Fairview neighborhoods.

I thought it would be educational to see the last 6 years worth of statistics so that we have a more broad view of where we have come from.  The sales are for single family residential houses, they do not include vacant land, multi-family units or commercial sales.

 Year

Total Sales

Median Price

Median DOM
2002271$142,00044
2003342$158,00033
2004399$165,08939
2005428$182,53536
2006437$210,00040
2007433$216,00057
2008338$208,50067

Notice the change in median price over the years.  The median price has increased 46% in the last 6 years.  That doesn’t mean that each house has increased that much but values have certainly gone up.  Note that the 2008 median price is down slightly from last year but is still significantly higher than it was in 2005. 

The DOM, (days on market) is up significantly.  In fact the DOM for all the houses on the market, including the many that are not sold is over 130.  Since this chart only counts sold properties, the days on market is lower than it is overall…but still at the highest level in 6 years.

Another very important fact is that rents are only about 10% higher now than they were in 2002.  Many properties are still renting for the same amount over the past six years.  People are willing to pay more to purchase a home than they will to rent a home but the gap is usually not as large as it is currently.

Give me a call at 907–232–7900, ( my cell phone), if you would like to discuss the ramifications of the above facts.