Wasilla Real Estate, Price per square foot year over year

MartyMarket Trends

Yesterday I took a look at the average and median price for Matanuska-Valley homes over the last few years.  I updated that post so take a look at it again.  These are statistics from Jan1–Sep 26 for the years shown.

It basically showed that while the total volume of homes sold has dropped this year, the average price has not dropped significantly.

I wondered if we were missing some information.  I thought that while the average price of the homes actually sold had remain constant, perhaps people were getting more house for the same amount of money.

So today I took a look at the median price per square foot. I was surprised that it tracks right along with median house prices.  In other words. the median sales price is remaining essentially constant as is the price per square foot over the last three years.

Here it is, the price per square foot is the last column.

Year

 Total Sales Average Price Median Price DOM Median Pr/Sq/Ft
2004 1104 $177,106 $169,000 37 108
2005 1183 $200,128 $190,000 38 122
2006 1249 $217,334 $206,025 43 130
2007 1,148 $222,788 $210,363 51 132
2008    896 $223,674 $206,000 56 130

You can see the fairly rapid increase in prices from 2004–2006 when appreciation essentially stopped.  If we were to go back further, we would see a steady increase in prices all the way back to 1991.  The increase was generally about 3 percent or so per year, but in the early 2000s appreciation was more rapid.