Monday Market Memo…8-4 through 8-11-2008
Wasilla Real Estate statistics. These numbers are for the whole Matanuska Susitna Borough, including Palmer, Trapper Creek, Sutton, Eureka and all points between.
Fifty seven new houses hit the market this week. Combine that with 72 coming on the market last week and you should have a hefty increase in inventory. We did see a significant jump last week but the total inventory actually dropped by two houses this week. Between the 31 pending sales and the other sellers who dropped out of the market for some other reason, it made up for the 57 new sellers.
Twenty eight closings is a little bit on the higher side of average for this summer but we certainly aren’t setting any records. We should continue at about this pace for the next couple months before it begins to drop off for the winter.
This week should see quite a few new construction pendings because of the parade of homes. I am still surprised at how new construction homes continue to be competitive. Many of the builders are moving up to five star plus houses. Some are moving into the super-insulated homes that surpass five star plus ratings. These homes save on energy costs every month for the home owner.