Monday Morning Market Memo 12-3-07

Wasilla, Palmer

and all Mat-Su Borough Statistics for the week of 11/26–12/3/07

After the short week last week, this week made up for the delay.  There were 45 closings and 27 pendings this week.  Those are very healthy numbers for this time of year. 

I don’t expect the high number of closings to hold up between now and Christmas,(that is just because of closings that were delayed due to Thanksgiving), but I do think that the market is pretty healthy for the winter.  Now that we are past Thanksgiving, we have definitely hit the traditionally slow time of the year.  But the market isn’t slow!  It’s surprisingly active.

Average Price DOM
New 14 $292,721 .
Total Active 801 . .
Pending 27 $236,232 99
Closed 45 $216,462 74

New listings have certainly dropped and that is to be expected, people don’t usually put their houses on the market just before Christmas.  But that means the houses currently on the market are getting more activity because buyers are still out there.  If this continues, we will be back to a sellers market by spring.

Look at the chart to the right.  Click on it to expand.  This is from the AKMLS system and shows the averages for the last two years.  Notice that the the new listings drop sharply every winter but the pending activity remains comparatively steady.  That is the reason I now recommend that a seller consider hitting the market before the spring rush.  You will have less competition.

Compare to previous Monday Market Memos, click here.

“This representation is based in whole or in part on data supplied by, and to, the subscribers of Alaska Multiple Listing Service, Inc. (AK MLS, Inc.). AK MLS, Inc. does not guarantee nor is it in any way responsible for its accuracy. Data maintained by AK MLS, Inc. is for its own use and may not reflect all real estate activity in the market. “