I thought I would take a look at the health of our market so far this year. We are almost 3/4ths through the year so this should give us some idea of where we are.
Below are the numbers for the year so far from Jan 1–Sep 26. This is compared with the very same dates for the previous four years.
|
Year |
Total Sales | Average Price | Median Price | DOM |
| 2004 | 1104 | $177,106 | $169,000 | 37 |
| 2005 | 1183 | $200,128 | $190,000 | 38 |
| 2006 | 1249 | $217,334 | $206,025 | 43 |
| 2007 | 1,148 | $222,788 | $210,363 | 51 |
| 2008 | 896 | $223,674 | $206,000 | 56 |
Note the median price…it has remained essentially the same for the last three years. If you bought your house in 2006 it should be worth about the same now. One thing that we should look at is the actual dollar per square foot over the same time period. I think I’ll save that for tomorrow.
The total sales are down this year by 22% so far. Last year only had a 9% reduction from the previous year. If the volume of sales remains low, there will be downward pressure on prices. But so far…prices are holding up.
Notice Days On Market, (DOM). It has increase every year but still seems rather low. The median DOM is for homes that have sold. That is entirely different than the 94 DOM for 893 houses currently for sale.
While there are 893 homes currently for sale in the Matanuska-Susitna Borough, there are only 1,114 in Anchorage, a city with about 5 times our population. Many people have to settle for one of the 500 or so condos on the Anchorage market.
