Monday Market Memo, June 23-30, 2008

Wasilla Real Estate News residential sales statistics for the Mat-Su Borough.  This report includes the sales in Palmer, Wasilla, Talkeetna, Willow, Big Lake, Houston, Sutton and all the other communities in the Borough. 

Over 80% of the real estate activity is in the Wasilla and Palmer areas with the outlying areas occupying only a small fraction of the business.

Sales activity was definitely up this week.  I think the pending sales are the highest so far this year.  Closed sales hit 32 so that is healthy as well. 

 

Average PriceDOM
New51$350,000.
Total Active913285,671128
Pending44$222,88489
Closed32$243,83366

I believe that many buyers that were waiting in the wings have seen the higher interest rates on the horizon and decided to step in now rather than wait. 

It is not uncommon to see a slight drop in sales activity during the mid-summer months was people entertain out of town guests, fish and generally enjoy the short Alaska summer.  But it seems that serious buyers are definitely still out there.

Buyers that want to be in a house before school starts really need to make their choices now.  School starts in just over 6 weeks and that gives just enough time to complete a normal transaction.