Wasilla-Palmer Market Memo August 1-8, 2022

We finally broke the 500 mark for total inventory. So our inventory continues to climb…but very slowly. We now have about 2.5 months worth of inventory on the market. House prices are not climbing as quickly anymore. But they are not falling either.

The average price of 3 bedrooms homes sold in Palmer and Wasilla in the last two months the last two months is $438K. The same period last year saw a price of $395K. That’s a 10% increase year over year. Buyers cannot expect that for next year but I don’t expect expect to see prices fall by much if they fall at all. There is still a pent-up demand. And still a shortage…which I guess is saying the same thing isn’t it?

Sellers have become accustomed to shooting for the stars and hoping to at least hit the moon. They have been pricing homes way higher than what they expected to get and were still selling them in the last year. That has ended. Houses now need to be priced competitively to sell.

Tune into our Tuesday Real Estate Round Table at noon. Every Tuesday at noon on our Facebook page. https://www.facebook.com/valleyhomes

Call us if you want to sell or buy a house. Just go to our contact page here: Contacts

See All our listings here: https://valleymarket.com/valley-market-real-estate-listings/

Our Youtube channel href=”https://www.youtube.com/channel/UCO2Ifk8C2g1NviQv3HozkTQ”>Valley Market You Tube Channel

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.