Monday Market Memo – January 22-28, 2013

Well, I knew I shouldn’t have made a prediction last week. I said the inventory would increase and of course the opposite happened. We had an unusually high number of pendings this week which took a some inventory off the market.

There were only 13 closings which is unusually low but this should increase, (notice I said “should” not “will”).

There has been a noticable increase in activity this week. In addition to the pendings that show up on the chart there are a lot more buyers out there looking at houses. We have been extremely busy here at Valley Market showing houses to prospective buyers.

Below is the chart from the week of Jan 22-26

Number of Listings Average Price Median Price DOM
New 24 $231,150 $222,000
Total Active 600 $249,950 $219,000 172
Pending 33 $217,386 $206,200 98
Closed 13 $221,952 $210,000 87

Last Monday Morning Market Memo: January 8-14

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.