Palmer Listings and Sales
Looking at the total sales in the city of Palmer since 2005 you can see a steady drop in volume of sales until this past year. (Click on the chart to expand it.) For three years in a row, (2008-2010), the total amount of residential sales in Palmer were below 70. Last year we saw a jump up to 80 sales. In fact this last year saw the highest amount of sales compared to listings since 2005. This means there was a higher absorption rate. If that were to continue, prices would begin to trend up.
You can see from the chart on the right that the median price dropped last year. I would expect it to move back up again over the next 12 months as long as the absorption rate remains high.
Palmer Median Price
Although the lots are smaller there are several advantages of buying in Palmer. 1. You can walk to stores, schools, churches etc. Palmer is one of the few places in Alaska where you really don’t need a car. 2. Palmer has a police force that actually patrols the streets. Most of the borough is under the Alaska State Troopers who are great but have are responsible for an area the size of many states. They just do not have the manpower to drive down your street if you see a suspicious character. 3. Palmer has a water and sewer system. You don’t have to worry about your well going dry or you septic system backing up. 4. Palmer has it’s own government, you actually elect your own mayor and city council. I’m sure there are many more advantages…go ahead and add some for yourself.
