Wasilla and Palmer Market Trends For The Year To Date

Yesterday I looked at the market trends for the Knik-Goose Bay Road area.  You can see that here.

Today I have the numbers for Palmer and Wasilla.  The first chart is Wasilla and the second chart is for Palmer. These are based on the specific map areas of Palmer and Wasilla

You will notice that the Wasilla area has more sales than Palmer.  The reason becomes obvious when you look at the maps, there just are more developments in the Wasilla map area.  The total sales volume is down about 18% from last year and down about 25% from the high in 2006.   However the median sales price is only down about 2% from the high in 2005.

Year Total Sold Average Price Median Price
2003 468 180,862 165,063
2004 477 193,244 175,000
2005 492 220,412 208,500
2006 559 241,604 225,000
2007 520 241,885 224,975
2008 422 238,343 219,950

 The chart below is for Palmer.  Palmer’s sales volume is done about 27% from the high in 2005.  In 2005 and 2006 Hall Quality Homes was building a lot of homes in several developments.  That building is still going on but at a slower pace.

Prices are also hanging in there in Palmer with the median price almost unchanged from the high of 2006.  That is an interesting statistic that will bear watching as we go through this winter.

Year Total Sold Average Price Median Price
2003 195 155,802 158,600
2004 238 190,567 177,076
2005 257 209,520 197,900
2006 242 221,035 213,500
2007 219 230,208 212,000
2008 186 233,459 213,200

The study of sales and prices show that the Matanuska Valley is weathering the real estate market quite well.  There is a lower volume of sales but they haven’t died.  The values are certainly holding their own better than the stock market has been doing lately.