Monday Market Memo, Nov 25-Dec 1, 2008

Wasilla Real Estate Monday Memo for Nov 25–Dec 1, 2008.  These statistics are for the whole Mat-Su Borough and include all single-family residential sales.  This means that vacant lots, multi-family, and commercial sales are not included.

This is the first week in the last two years that closed sales have been in the single digits.  This was thanksgiving week so you would expect less activity, especially since the title companies were closed for two days.

Last year thanksgiving week had 23 closed sales so that shows a significant slowdown.

 

Average Price Median Price DOM
New 22 $229,359 $222,000 .
Total Active 736 $284,333 $235,000 152
Pending 17 $206,643 $169,100 88
Closed 9 $212,944 $214,000 71

We have more than 100 fewer homes on the market this year than we did at the same time last year.  That helps keep things at an equilibrium. 

The 22 new listings this week include quite a few that really need to sell.  About 4 of them are foreclosures and there are other good deals. 

This week, Jay and I pended two homes for clients at what I consider to be exceptionally good prices.  Both buyers were very pleased with the price they were able to negotiate.  If you would like some help looking for good homes…just give a call to 907 373–0999.  We would be happy to help you.

This is the time of year that sellers are willing to look at offers.  I had a realtor tell me about a house yesterday that needs to sell…she said, “bring an offer”, the seller will consider any offer that will allow him to move before Christmas.