Palmer and Wasilla Alaska, Monday Market Memo. March 2-9, 2015
The market is still strong. There were still a lot of pendings, more than 2x the amount of closings which means the market is speeding up. The median days on market is low. If a house is priced right at the sales price it will move very quickly. Some people are pricing their houses higher and taking longer on the market but often getting those higher prices.
That is an important thing to think about in this type of market. Consider your price carefully, you may be leaving $10,000 or more on the table to sell it in a week as opposed to a month.
I reviewed this week the sales prices of a group of houses compared to the days on the market. Many on the market sold for $10,000-$20,000 less than they could have had the seller been more patient, and more resistant to the Realtor’s pitch for a low price. But they did sell for less than a week, and if that is your goal, more power to you.
Priding a little high is always a gamble however, because our Alaskan economy is so fickle. Our economy could turn on you and leave you holding the bag if you hold out for too high of a price.
But this is starting to develop into a sellers market. If you are a buyer and interested in getting into a house, don’t wait. Give us a call or email and we can help you out.
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There is a shortage of new listings right now. If you are a seller, I would put your place on the market sooner rather than later. If it’s priced right, it will sell. Want an instant valuation? Click here
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.