Monday Market Memo Nov 3-9, 2009

These are the statistics for the week for the whole Mat-Su Borough. The vast majority of this action takes place in Wasilla and Palmer but some of it happens out in the far-flung reaches that are only accessible by snowmachine and boat…or airplane.

The new listings shrunk again, go here to see why this phenomenon may lead to an opportunity for you.  We will see the amount of new listings likely go into single digits as we approach the end of the year.  There were more closings than new listings and as houses come off the market either because the sellers want to wait out the winter or because they are sold, the inventory shrinks for new buyers.

  Average Price Median Price DOM
New 12 $177,808 $172,450 .
Total Active 768 $277,760 $235,000 158
Pending 13 $254,108 $219,000 99
Closed 22 $209,925 $196,000 71

The Federal Government has both extended the stimulusfor first time home buyers and added another stimulus for repeat buers.  These are people who are not first time home buyers but are buying another house as their personal residence.  This will likely move people into the market during these winter months.

There are some pretty good deals out there…you may want to get on my Deals Of the Week list to find out about them as they hit the market.

Based on information from AK MLS, Inc. for the period Nov 3-9, 2009 but not compiled or published by AK MLS, Inc. Data maintained by AK MLS, Inc. may not reflect all real estate activity in the market.