Wasilla Real Estate News for Oct 27-Nov 2, 2009

These are the real estate statistics for Palmer, Wasilla, and the rest of the Matanuska-Susitna Borough for the week of Oct 27-Nov2, 2009.

This week included the end of the month which is always a high point for closings. This month was no different in that more than 30 closings took place. But the beginning on winter is showing in all other categories. New listings fell off a cliff with only 16 coming on the market for the week. Pendings were down a little and the total inventory dropped below 800 for the first time since May.

Over 1/2, (57%), of the 120 closings last month were under $200,000. That should be a wake-up call for the 527 homes on the market over that $200K mark. The higher the price of the home, the more agressive you need to be in your pricing compared to your competition. I had a client last week slash his price by 7 1/2 percent in one move…he got two offers in one week after only getting a showing a week for more than two months.

  Average Price Median Price DOM
New 16 $198,444 $205,000 .
Total Active 772 $278,716 $235,500 154
Pending 24 $229,303 $206,000 112
Closed 38 $210,238 $184,000 85</strong

So we have officially entered the winter season where activity begins to slow down. But I actually enjoy this season of real estate because we are dealing with serious sellers and buyers during this time of year. Buyers are generally not just shopping, they need a home for the winter. Sellers that are on the market in the winter are not competing against the half-hearted sellers who take their homes off the market for the Thanksgiving and Christmas seasons.

If you are looking to sell or buy, give me a call. I have been working in the Mat-Su Valley for almost 20 years helping people with their real estate needs. My phone number is 232-7900 and my email is [email protected] .

Based on information from AK MLS, Inc. for the period (date) through (date) but not compiled or published by AK MLS, Inc. Data maintained by AK MLS, Inc. may not reflect all real estate activity in the market.