I thought I’d take a look at residential real estate statistics for Palmer and Wasilla. I wanted to just look at the winter sales since we just finished it…I hope.
All the statistics are for Palmer and Wasilla residential real estate from the months of October through March 2005-2011.
You can see from the chart below that sales volume has changed dramatically over that time.
In the winter of 2005-2006 we sold a high of 613 homes but it fell to a low of 367 in the winter of 2008-2009. Sales are not much higher this winter. We are still at a fairly low volume of sales compared to the heyday of 2005.
It’s interesting to note that the median price of homes hit a low for this time period last winter of $204,600 and a high this winter of $219,900. It’s hard to argue that prices have fallen over this time. I’d like some comments from other local Realtors if they have actual statistics that differ with this. Are prices going up this year?
New construction remains about 25% of the market this winter. It came down from a high of 47% of the market in 2005 and dropped quickly to 24% in 2007 and has remained at that level since. The fact that new construction is still 25% of the market shows that although prices are not where sellers might want them to be, they haven’t crashed because builders can still make a profit.
Click here for more info on the house at the top of this page. It will sell soon, believe me.