Monday Morning Mojo: Spring market update…
If you’ve been receiving my e-mails for any length of time, you know that I send out regular Market Trends reports for Anchorage, Eagle River, Wasilla, and Palmer. They’re full of information, up-to-date, and hopefully you’ve found them to be helpful! With that said, I like to send out a slightly different, more personalized approach to analyzing the market from time to time.
Months of Housing Inventory is a key indicator of the market. It basically answers the question of, “if no new inventory was added to the market, how many months would it take for the current inventory to sell given the current rate of sales?”
I’ve broken the statistics down by price range and area. Keep in mind that even in the best of markets it is normal for the higher price ranges to become less of a “seller’s market” and more of a “buyer’s market.” Also, in some markets, due to limited inventory in the higher price ranges, data can be less accurate. And it is always possible to buck the trends through correct pricing, regardless of the market as a whole.
<6 months of housing inventory = seller’s market
>6 months of housing inventory = buyer’s market
Anchorage
Overview: 2,264 Sold Last 12 Months/2.5 Months Inventory/Seller’s Market
$0 – $100,000: 11 Sold Last 12 Months/1 Month Inventory/Seller’s Market
$101,000 – $200,000: 145 Sold Last 12 Months/2.5 Months Inventory/Seller’s Market
$201,000 – $300,000: 727 Sold Last 12 Months/1.5 Months Inventory/Seller’s Market
$301,000 – $450,000: 893 Sold Last 12 Months/2 Months Inventory/Seller’s Market
$451,000 – $600,000: 314 Sold Last 12 Months/3 Months Inventory/Seller’s Market
$601,000 – $800,000: 135 Sold Last 12 Months/5 Months Inventory/Seller’s Market
$801,000+: 39 Sold Last 12 Months/12 Months Inventory/Buyer’s Market
Eagle River
$0 – $100,000: 0 Sold Last 12 Months/0 Months Inventory
$101,000–$200,000: 8 Sold Last 12 Months/2 Months Inventory/Seller’s Market
$201,000 – $300,000: 135 Sold Last 12 Months/2 Months Inventory/Seller’s Market
$301,000 – $450,000: 269 Sold Last 12 Months/3 Months Inventory/Seller’s Market
$451,000 – $600,000: 88 Sold Last 12 Months/4 Months Inventory/Seller’s Market
$601,000 – $800,000: 11 Sold Last 12 Months/10 Months Inventory/Buyer’s Market
$801,000+: N/A (5 Homes sold, 0 current active homes on market)
Wasilla
$0 – $100,000 – 19 Sold Last 12 Months/2 Months Inventory/Seller’s Market
$101,000 – $200,000: 196 Sold Last 12 Months/2.5 Months Inventory/Seller’s Market
$201,000 – $300,000: 505 Sold Last 12 Months/2.5 Months Inventory/Seller’s Market
$301,000 – $450,000: 248 Sold Last 12 Months/5.5 Months Inventory/Seller’s Market
$451,000 – $600,000: 35 Sold Last 12 Months/9 Months Inventory/Buyer’s Market
$601,000 – $800,000: 7 Sold Last 12 Months/16 Months Inventory/Buyer’s Market
$801,000+: N/A (0 Homes sold, 4 current active homes on market)
Palmer
$0 – 100,000: 7 Sold Last 12 Months/6 Months Inventory/Balanced Market
$101,000 – $200,000: 86 Sold Last 12 Months/1.5 Months Inventory/Seller’s Market
$201,000 – $300,000: 197 Sold Last 12 Months/1.5 Months Inventory/Seller’s Market
$301,000 – $450,000:131 Sold Last 12 Months/2.5 Months Inventory/Seller’s Market
$451,000 – $600,000: 24 Sold Last 12 Months/3 Months Inventory/Seller’s Market
$601,000 – $800,000: 3 Sold Last 12 Months/20 Months Inventory/Buyer’s Market
$801,000+: N/A (1 Sold Last 12 Months, 4 current active homes on market)
Tait Zimmerman
Advantage Alaska Real Estate
Serving Anchorage, Wasilla, Palmer, Eagle River, Chugiak, Big Lake, Willow, Sutton
907-519-0043
tait@advantagealaska.com
AdvantageAlaska.com
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