Monday Market Memo…Oct 13-20, 2008

Here are the statistics for Wasilla, Palmer and the rest of the Matanuska-Susitna Borough for the week of Oct 13–20, 2008.

I looked back at our inventory last year at this time, it was a total of 915.  Our total inventory is down significantly, thats a good thing, because our total sales are off by about the same amount.

 

Average Price Median Price DOM
New 34 $225,101 $220,750 .
Total Active 825 $293,127 $240,000 140
Pending 31 $191,427 $189,900 101
Closed 15 $217,995 $211,400 72

There were 31 pending sales last week, that is a healthy number for this time of year.  The closings are low but will probably spike a little in the next couple weeks.\

There are a quite a few buyers in the lower price ranges, but there are very few homes in that price range.  This is the price range between $150,000–$200,000.  Many of those buyers are opting for new construction because of the scarcity of homes that meet financing criteria. 

I am working with a buyer right now who is getting into a brand new 3 bedroom, 2 bath home of just under 1200 square feet for $172,000.  It is a five star plus home, so when it is finished he will receive a $7,500 rebate check from Alaska Housing for energy efficiency.  Not only that, over the years he will save even more because his utility bills will be significantly lower than other homes.

If you would like to find out how to do that, give Jay or I a call at 907 373–0999 or email me at marty@valleymarket.com