Monday Market Memo for July 21-28, 2008
Here are the statistics for the week of July 21–28, 2008 for Wasilla, Palmer, and the rest of the Matanuska-Susitna Valley.
This was a pretty good week for new pending sales hitting 49 in total. The overall inventory dropped and I wouldn’t be surprised if this becomes a trend as we move into late summer. The 24 closed sales is about average for the year so far.
Of the 49 pendings, 14 of them are new construction and 5 were foreclosures. This is an interesting mix that shows that our real estate market is certainly not dead. Builders are still providing a good product for the money. Buyers have a chance to look at the existing homes including the foreclosures and a healthy percentage of them are choosing to build a new home.