Monday Market Memo for April 7-13, 2009

Wasilla Real Estate News statistics for the week of April 7-13, 2009. These statistics include the entire Matanuska-Susitna Borough including Wasilla, Palmer, Houston, Big Lake, Talkeetna, Willow, Sutton and regions beyond.

It appears that real estate activity has picked up a notch from the February and even the March slump. It also looks like it will continue through out the spring.

 

Average Price Median Price DOM
New 21 $252,923 $216,450 .
Total Active 774 $277,660 $237,700 146
Pending 25 $256,274 $225,950 92
Closed 13 $239,611 $235,000 80

We are not doing nearly the amount of business that we were doing a couple years ago but there is still a pretty healthy real estate market in Alaska. Prices are not rising currently and anyone that purchased their home between 2005-2007 needs to be prepared for no profit or even a possibility of negative equity if they need to sell now.

I did a comparison today of 3 bedroom, 2 bath, 2 car garage ranch style homes that sold from 4/13/2004-4/13/2005 compared to the past year to date. These were newer homes all built since 2003. The median sales price of these homes in 2004/2005 was $229,000 and the median price for this past year was $219,000. This is an important statistic and worth keeping in mind for anyone selling their home today.

If you are interested in a realistic evaluation of your home’s value, give me a call at 232-7900.

What the future holds is anyone’s guess. So far, Alaska is faring better than most states. Take a look at the March Economic Report from the State of Alaska. While foreclosures are up for Alaska, they are nowhere near the catastrophe of the late 1980’s. In fact we are doing better than all but 2 states in the country. The only other 2 states with better foreclosure statistics are Wyoming and North Dakota.

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.