Monday Morning Market Memo…Week of 8/22/2008-9/21/2008

Wasilla Real Estate News statistics for Palmer, Wasilla, and the whole Mat-Su Borough. 

I added a Median Price Column for the real statisticians out there.  This number is actually more useful than the average price because it is not easily skewed by one extremely high end or low end sale.

The median price is the middle price of a group of sales.  If you were to line up a bunch of numbers in numerical order…it would be the number in the center.

 

Average PriceMedian PriceDOM
New60$279,032$235,450.
Total Active923$285,185$239,000130
Pending34$212,176$199,45067
Closed38$209,458$202,50086

The market continues to be comparatively healthy.  The total inventory dropped a little since last week while the pendings and closed numbers are higher than average.  

Sixty new listings is still a high number of listings but they appear to have been absorbed this week. At the end of any month, there are a lot of listings that expire, that is why  the total inventory dropped even though there were more new listings than pendings.

To the right is the Alaska MLS Chart for the last two years through August.  Aug mls chartClick on it to expand.  I haven’t run it in awhile because the data is about 30 days behind, but it is interesting to note the long term movement in sold listings.  That is the blue line.  You can see that there has not been a drastic shift in our market.  It is humming along at about the same level but a little slower than a couple years ago.

It remains to be seen if Sarah Palin’s candidacy for vice president will have any effect on our real estate market.  I really don’t think it will, but it will probably help the hotels and b&bs with the out of town reporters.

I thought it was interesting today to receive four calls in a row asking about land on Lazy Mountain.  Jay lives there and I have scoured that area for years and know it well.  Perhaps it is going to be the valley’s version of the hillside.

If you would like some help with real estate give me a call at 907 232–7900 or email [email protected]