Valley Market Real Estate
Wow…some weeks can eat you up. This one did eat me up. It’s Friday and I did this video on Monday. Thanks to Sage Patrick for helping me edit it enough to be watchable.
The property featured is a great opportunity for someone. Owner-financed on approval of credit. Here is the listing: 44694 S Hilary St https://valleymarket.com/homes-for-sale-details/44694-S-HILARY-STREET-WILLOW-AK-99688/23-6038/187/
The advantage of looking at the same statistics over a long time, ( I’ve been doing this since 2009 or so), is that you notice trends a little. I took a look at this week over the last 5 years. I just wanted to look at the total inventory and total days on the market for that inventory.
It’s important to note that the total days on the market is for all the houses currently on the market. Some houses are listed for years and never sell so that tends to bring the average up. But overall, it’s still a useful number.
Here is the last 5 years followed by a couple of takeaways from me…I hope some of you can give feedback on this. Please comment by email, or Facebook, or YouTube.
Year Total Inventory ADOM
2023 328 81
2022 380 60
2021 291 75
2020 551 113
2019 728 109
–2019 was the last “normal” year. I guess we are in the “new normal”.
–2020 we were still in shock. Wondering what was going to happen.
–2021 interest rates were low, Houses were selling like hotcakes.
–2022 interest rates hit a low of 2.5%. Houses were selling faster than ice cream at https://ilovebigdipper.com/
–2023 interest rates are almost 3X higher and we are still selling 50% of the inventory in a month.
We need more low priced houses. Most of the houses below $300K get multiple offers. Even 1 bedroom houses. At our office we are brainstorming ways to get more affordable housing without using government subsidies.
If you have any good ideas let us know. Call us here are Valley Market Real Estate!
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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.
