New Homes Are Still A Large Percentage Of The Market
I just finished a video of a very nice new home that Pacific North Construction finished for a family. This turned out to be a beautiful home that was just what the family wanted and where they needed it.
Take a look at the video here:
Pacific North Construction and other builders that I work with have been keeping plenty busy with new construction even in this challenging market. The reason there is a good market for new construction is because these new homes are top quality, energy efficient and sometimes even less expensive than competing homes.
I took a look at how many new homes are being built compared to the total market. This shows that about 21% of the total market last year was new construction. That’s pretty good. The foreclosure market was only 12% of the market last year.
In the entire Mat-Su Borough there were 249 new homes sold at a median price of $233,500 compared to the total market of 1,193 homes sold at a median price of $206,000. Most of the real estate activity is in Wasilla and Palmer but these statistics also include everything from Talkeetna to Sutton.
Another interesting statistic is that these new homes sold at an average price of 97.7% of the asking price while the overall market sold at 94.6% of the asking price.
If you are in the market for a home you should check out new construction. You get a new furnace, a new roof, a new septic system, etc. Not only that, you get a one year warranty on your home and it is more energy effecient. All that is really worth quite a bit of money, but you often don’t have to pay anything extra for it.
Give me a call on my cell if you would like to talk about new construction…907 232-7900. Or just drop me a line at [email protected]