Wasilla Real Estate, Monday Morning Market Memo, 7-23-07

Not sure if we are seeing something here but the inventory has dropped for the second week in a row.  It hasn’t dropped by much, but any drop is news. 

In addition, the pendings, and closed sales are up.  I would say that we may be seeing a trend.  But we need a few more weeks to be sure.

     Average Price  DOM
 New 51 $251,863  
 Total Active 851 $305,987  103
 Pending  50 $220,365 87
 Closed  32 $193,006  63

Notice that the average price for this week in closed sales is below $200K.  That is because 23 of the 32 houses that closed this week were less than $200,000.  Compare that with the fact that about 75% of the homes on the market are over $200,000 and you can see why the higher price homes take longer to sell.  You have 75% of the sellers competing for 33% of the buyers.   Boy…that is a rotten paragraph…you need to be a bean counter to even understand it.

We have personally been VERY busy.  Many of our listings have pended in the last couple weeks, some that have been on the market for a year.  Now we are ready for some new listings.

If you have a house that you need to sell give us a call.  We can help you, and we will give you a choice in how to pay us as well as how much to pay.

Our office number is 907 373–0999 and you will get either Jay or I.  If you want to fax us anything, our fax is 907 745–5486