Monday Morning Market Memo for Dec 16-22, 2008

Wasilla Real Estate News Memo for Dec 16–22, 2008.  These are the statistics for single family residential homes in the whole Mat-Su Borough for the week.

This week was a lot better than last week which saw some of the lowest numbers for the last 3 years.  Even though this is the slowest time of the year, we may see a resurgence in demand because of the very low interest rates.

 

Average Price Median Price DOM
New 19 $259,071 $239,000 .
Total Active 712 $282,820 $229,450 158
Pending 12 $209,942 $182,500 132
Closed 24 $240,240 $207,450 57

A couple of $400K homes pended this last week which is a good thing.  Demand has been slower on those homes and buyers have a lot of choices. 

Demand is still pretty good for homes under $250,000.  The market is competitive for sellers at all levels however.  Buyers will tend to walk away from offers fairly quickly.  So if you are a seller, market your home with a good sales price and don’t turn up your nose at buyers.  The next one may not come along for awhile.