Monday Market Memo for March 24-30, 2009

Graph of supply

These are the statistics for Wasilla, Palmer, Talkeetna, Big Lake, Sutton and all the rest of the Mat-Su Borough for this past week. These statistics are only for single family residential homes. That is the heart of our market here in the valley and the Palmer/Wasilla core area is where 90% of the action takes place.

It looks like spring has finally come to real estate with 31 pendings this week. That is a very healthy amount. More closings will inevitibly follow. I wouldn’t expect to see 31 pendings every week but this is a lot more than we have had lately.

The excellent interest rates, (many people are locking in rates as low as 4.5% for 30 year fixed loans), certainly help. The lenders are all real busy refinancing people out of high rates into lower interest rate loans right now.

In addition, the Alaska Housing Energy rebate of $7,500 helps to spur the market. People enjoy not only buying a very efficient house that will save them a lot of money on their utility bills but also cashing the $7,500 check after closing.

 

Average Price Median Price DOM
New 40 $281,483 $250,000 .
Total Active 764 $280.154 $239,000 147
Pending 31 $227,324 $214,900 125
Closed 11 $180,945 $209,900 128

There are some pretty amazing deals out there right now. Check out our Deals Of The Week, and our Motivated Seller Lists to find out about these deals.

If you are really into statistics you might enjoy the new supply/demand study from AkMLS.

One important thing to note from this study is the ratio of sales price to list price 98.76%. That means that sellers only came down an average of 2.24% off of their asking price. This is important for both buyers and sellers to keep in mind.

This representation is based in whole or in part on data supplied by, and to, the subscribers of Alaska Multiple Listing Service, Inc. (AK MLS, Inc.). AK MLS, Inc. does not guarantee nor is it in any way responsible for its accuracy. Data maintained by AK MLS, Inc. is for its own use and may not reflect all real estate activity in the market.