Monday Market Memo, Feb 4-11, 2008

Wasilla Real Estate market statistics for Wasilla, Palmer and the whole Mat-Su Borough.  These are the numbers for the week of Feb 4–11.

The new listings more than 3 times the amount of pending and sold listing for this week.  I expect to see many new listings come on the market, but at this rate unless the pendings and solds catch up we will be well into buyers market territory in a month or less. 

Average Price DOM
New 51 $239,426 .
Total Active 698 280,090 154
Pending 15 $215,447 142
Closed 13 $203,198 120

The total inventory increased by 28 homes this week.  Buyers are definitely out there shopping.  I received a lot of calls on listings this week so I expect to see the pendings pick up in a week or two.

I think 13 closed listings is the lowest weekly count since I started this weekly update in January 2007.  It also appears that the days on the market are increasing as well.

All the above basically says that sellers need to be priced competitively if they want to sell their home during this spring/summer market cycle.  Price it right and it will sell.  Strive for top dollar and it will sit, it’s as simple as that.

With interest rates at historic lows, it is also a good time for buyers to shop.  There is plenty of inventory so should be easy for a buyer to find the house that meets their needs. 

If you would like more info on selling or buying in the Mat-Su Borough, give me a call.  232–7900.