Monday Market Memo, May 26-June 2, 2009

Wasilla and Palmer real estate statistics for May 26-June 1, 2009. These statistics show the average and median sales prices for single family homes in the Matanuska-Susitna Borough. This inludes Palmer and Wasilla and all the way to Talkeetna and Trapper Creek. The vast majority of the real estate activity takes place in the core Wasilla/Palmer areas.

This has been an active week with closings, pendings and new listings all on the high side for the year. At the current rate of new listings we will go over 900 homes in the inventory by the end of summer.

 

Average PriceMedian PriceDOM
New64$279,244$217,500.
Total Active871$289,949$241,500134
Pending35$218,341$195,00063
Closed27$237,984$239,50076

The interest rates jumped up this week. They are now in the mid to high 5 percentage point ranges. This is still a great rate historically but not at the extremely low rates seen recently in the high 4s. It’s hard to say if they will go back down anytime soon. If you had read my memo exactly a week ago, Interest Rates Going Up?, you might have locked in then. Hopefully you did.

I should be getting the deals of the week out tonight. Let me know if you want to be on the list. We just lowered the price of one house by $10,000 that I thought was already a deal…it will be included.

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.