Wasilla, Palmer, and Mat-Su Real Estate Market…4/9/2007

The market is continuing its upward trend in sales and inventory.  This looks like a normal spring trend in sales.  There are more new listings and more pendings than we have seen all spring except for last week.  One week does not make a trend, but two weeks at least starts one.

     Average Price  DOM
 New 53 $274,953   
 Total Active 716 $302,336  104
 Pending  34 $208,116 84
 Closed  21 $222,171  90

I notice that the average price for new listings is still lower than the average price of all the houses on the market.  Notice that the average price of houses for sale is almost $100,000 higher than the average price of pending sales. 

Houses priced at or under $200,000 are receiving the bulk of the interest primarily because that is where most buyers qualify.  Even then, houses have to be priced competitively in order to sell.  This past week I showed a buyer 10 houses in Palmer priced between $130,000–$160,000.  It was obvious which ones would sell and which were doomed to sit until the price comes down