Hello! As you probably know, I typically send out a weekly market trends report (and have been for years now) for the Wasilla, Palmer, Eagle River, and Anchorage areas. I’ve had a TON of people tell me that they’ve been tuned into it for years and that the information is super helpful. They are great reports! The only downside is the tendency to give a micro-snapshot of the market. They focus on the week-by-week view. So, every so often I like to send out a bigger picture synopsis of the market and trends.
But first let me say…
Right now is one of my favorite times to help sellers get homes on the market. Inventory is low this time of year. Most sellers are planning on waiting until the market heats up, but it’s already starting to get hot! From here until spring is awesome, and giving one’s home exposure starting now through spring is a huge advantage! If you know anyone buying or selling, I’d love to help!
Most of the terms used in the following reports are self explanatory (let me know of any questions), but a quick note on the “absorption rate.” This is a key indicator based on how many months it would take for the current inventory to sell given recent average rates of sales, assuming no new inventory was added to the market. The lower the number, the stronger the seller’s market.
Instead of the usual weekly reports, these are focused on the last year, and give more of a birds-eye view of the market.
Now to the trends…