Market Trends for Fairview and Knik-Goose Bay Areas

With the increase in gas prices this last year I thought I would take a look at the sales numbers for the homes in the Knik-Goose Bay area for the year so far.  This includes the Knik-Goose Bay Road area out to and including Settlers Bay.

For Realtors and others familiar with the Mat-Su Boroughs tax maps, these include OC3, OC4, and HO16.  You can see the borough maps yourself here.

This area was one of the fastest growing in the Matanuska-Susitna Boroughs which is itself the fastest growing area in Alaska.

You can see that the sales volume, (total sales), was amazingly steady from 2004–2007.  It dropped off this year to the same volume as 2003. Prices increased steadily until 2008 with a huge jump from 2005 to 2006.

Year Total Sold Average Price Median Price
2003 125 152,093 153,900
2004 184 171,750 164,583
2005 183 190,101 179,600
2006 183 211,934 205,000
2007 182 214,152 207,000
2008 128 214,048 195,500

I don’t think that this years decrease in volume can be necessarily attributed to gas prices alone.  Obviously we have seen a drop in sales volume across the board.  It is also obvious that we are not seeing a real estate crash, the volume is still as good as 2003 which we thought at the time was a very healthy sales climate.

I will take a look at the core area between Wasilla and Palmer for a comparison tomorrow.  For a comparison to the whole borough you can look at the study I did at the end of September.