Before covering the Mat-Su Valley, Alaska, real estate market, I want to discuss a project. This week, I took some time for a personal experiment. Keep your eyes peeled if you’re driving along Palmer Fishhook and the Glenn Highway. You might spot a banner I recently put up. It is in a location that might not be ideal for signage. The corner is notorious for being one of the windiest spots in the valley. If you see it flapping in the wind, do me a favor and let me know.
Despite the windy hurdles, I remain optimistic about the banner’s potential impact. It highlights a unique property – 58 acres of land at a prime corner. Feel free to reach out if you or anyone you know is interested in this property. It could be a fantastic opportunity!
The Latest on the Mat-Su Valley Alaska Real Estate Market
Weekly Market Snapshot
Last week was surprisingly busy for this time of year. There were 34 new listings with an average price of $439,000. Meanwhile, 27 homes went under contract (pending) with an average price of $381,000. However, it’s still a challenging time for buyers, especially those searching for affordable starter homes. The $350,000 range is now the norm, and finding homes under $200,000 has become nearly impossible.
On the sales side, closings were strong, with 38 homes sold at average prices exceeding $400,000. There are 432 homes on the market—an increase from the 300 available last year. Still, it’s a far cry from the 800+ homes listed during 2007-2008. Active listings now have an average price topping $500,000.
Regarding market pace, the total days on the market for homes are rising, sitting at 108,000. To put that into perspective, the inventory was much larger in 2007. During that time, the total days on the market reached around 150,000. This comparison helps provide some insight into where the market stands today.
Looking Ahead
As Thanksgiving approaches, the real estate market may slow down in the coming week. However, opportunities are still available for those who are looking. And for something to look forward to, the days will start getting longer again in less than a month. It is a sure sign that the new year is approaching.
If you have questions about the current market, the 58-acre property, or anything else, do not hesitate to reach out. From everyone here at the office, have a wonderful Thanksgiving, and we will see you soon!
We Love Alaska!
Are you considering buying or selling a home in the Wasilla/Parker area? We’d love to help you! Contact The Valley Market now, and we’ll reach out to you promptly.
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