The year is almost over so I thought it would be interesting to see how this year has gone compared to past years.
This chart is using statistics only from the Wasilla area. Still, this is a fairly large area which has the bulk of the real estate sales in the Mat-Su Valley. It includes the area in the map above. I will post another article later focusing on Palmer.
The raw numbers are below.
|Year||Total Sales||Average Price||Median Price||DOM|
The days on the market here are for sales, if you go back and look at the total days on the market for everything you will see that it is more than 150 days. Here are last weeks stats showing the total inventory DOM. The houses that sell are not on the market as long as the total inventory. That is a lesson for all sellers, price it right and it will sell. Otherwise you join the crowded shelves of worn out listings that have been sitting there for six months or so.
Here is a hard fact for sellers. Most of the homes that have been on the market for a long time are the higher priced homes of $350,000 and up. If your house payment is $2000 per month and you have been on the market for 6 months, that’s $12,000 that you have paid in mostly interest. And now that six months are up, you obviously are over priced and have to make a drastic price reduction. So now you are going to sell it for less than the $325,000 suggested list price you were given six months ago…and you have paid $12,000 in house payments to boot.
If you are serious about selling, price your house very aggressively. You will likely not be leaving very much money on the table because of the above facts of life.
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Based on information from AK MLS, Inc. but not compiled or published by AK MLS, Inc. Data maintained by AK MLS, Inc. may not reflect all real estate activity in the market.