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Ask Cora Hey Cora: I am an engineer and I love numbers and STATS! Is there any way that you can give us some stats on how the market is doing right now? Signed, Don’t Hug Me I am an Engineer! Dear Engineer, YES! I love stats too, but I am far from an engineer, but I might be able to drive a train... I know, not THAT kind of engineer! I have these really great stats that show us all kinds of things. Now this is just single family homes in the Valley, but take a look at this: For a home priced between $150,000 and $174,999 – there were 31 homes on the market and 12 of them currently have offers on. The average price $165,520 and they sold for 100.5% higher than their asking price! What this means is that when you have something in this price range, if it’s nice and clean and is in the “core” area (meaning Wasilla, Palmer) it will sell for a little teeny bit more than what you were asking! Usually because the buyers want the seller to pay their closing costs. Average days on market was just 30 days! Here is something interesting, homes between $275,000 and $299,999 were the “popular” price range in this market with 110 homes! And 41 of them have offers! Average sales price in this bracket was $286,740 and sellers got 99.4% of their asking price – whoa! Average days on market was on 62 days. What that means is, that if you are priced right, you will sell your home! Another price bracket coming in a strong second with 99 listings, is $225,000 to $249,999 price point! And look at this – 46 of the 99 have contracts on them right now! That gives us a whopping 46.5% of the listings in that price range are already sold and just waiting to close on their new homes. Guess what the percentage is of asking price to contract price….wait for it…….. 99.8%! That’s huge, that’s not happening in other parts of the country. The price range just over $500,000 is

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doing well with 47 active listings and 12 of those are sold! They do have a longer market time of 83 days – still, that’s less than 3 months! AND, I know you will find this as intriguing as I do – the list price to contract price percentage…….98.3%. That’s quite stunning don’t you think? This means that if you wanted to buy a house for $525,000, you’re only going to get a $9000 break on the price, not these $30,000 or $50,000 price breaks like we have seen in other states. Another fascinating stat, there are 37 homes between the prices of $600,000 and $800,000 and 10 of them are sold! TEN! Those too, have very high ratios of listing price to contract price. Now, let’s break this down just a little, because there may be something here that is skewing the stats; (this happens all the time as any statistician knows) In this higher price range, there is a lot of new construction. If nine out of the ten of these are new construction, what is going to be the percentage of list price to contract price? That’s right 100%! So that’s probably why the ratios are so high in this price range. And it wasn’t too long ago that we rarely had million dollar homes here in the valley, but today we have SIX homes between the price of $1,000,000+, three of those are over $2,000,000! So let’s wrap this up – as of the 17th of September, there were over 38% of our total residential listings, were sold! We have only a little over two and a half months of inventory and $286,300 is our average sales price. Of that average, those sold for NINTY-NINE POINT THREE PERCENT of their asking price! That’s a pretty strong market right there. Wheew! Okay, that’s enough stats, what a rush! Did I say I love stats? Anyway, as you can see, our market here in the Valley is quite robust and if you are thinking about buying or selling your home or you know someone who is... please call me and I can Stat-it to ya! LOL! November 2019

Call Cora Today! Keller Williams Realty Alaska Group Of Wasilla 621 S Knik-Goose Bay Rd Wasilla, AK 99654

www.clcandassoc.com

907.982.5700

GreatLander Real Estate Guide

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2019 November Mat Su Real Estate Guide  

#realestate #valley #land #listings #home #rentals #palmer #wasilla #mls #homeinspection #cabins #builders #titlecompany #homeimprovement #n...

2019 November Mat Su Real Estate Guide  

#realestate #valley #land #listings #home #rentals #palmer #wasilla #mls #homeinspection #cabins #builders #titlecompany #homeimprovement #n...