Only 15 new listings last week and 29 pending. That means we put almost 2x as many homes under contract than came on the market. So the inventory continues to fall to 334. It was 241 at this same time last year. In fact, here is a comparison of the last 4 years of new listings, sales, and pending for this week in December.
Year New Pending Total
2022 15 29 334
2021 19 38 241
2020 17 35 269
2019 34 21 607
So it appears that we are in a “post-pandemic” despite the high interest rates. Who knows when or if we will get back to the pre-pandemic market of 2019. The interest rates have put a lid on price increases and may start to push prices down. But I have not been able to verify downward movement of prices yet.
Here is a link from this week in 2019. Memo Dec 9, 2019
Tune into our Tuesday Real Estate Round Table at noon. Every Tuesday at noon on our Facebook page. Valley Market Facebook
Call us if you want to sell or buy a house. Just go to our contact page here: Contact Us
See All our listings here: Valley Market Listings
PS I mentioned a link to sign up for the market memo…if you are reading this you already have it, but you can forward to a friend and they can sign up here: Market Memo Subscribe
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.