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Year to Date Market Improving - Slightly

By
Real Estate Agent with Wolf Real Estate Professionals

The Anchorage Real Estate Market is improving, albeit slightly.

Market is improving cautiouslyI checked in this morning with the Statistics Department at Alaska Multiple Listing Service (MLS) to see how the overall market was fairing, from the distinct advantage MLS has of seeing everyone's transactions.

A check of year to date residential numbers ending April 30th show a pretty nice improvement over last year (Jan 1 - April 30).

The numbers of sold properties are up 5% this year over last year.  The average sales price is up 3% in a year over year comparison for the same time last year; You do have to be pretty cautious how much you read into the stats though.  - 2009 was down pretty far from our normal a few years prior.

Condominium numbers are also up in number but down a bit in average sale price.  The number sold is up 36% over the same time last year, but sales price down 5%.

When you look at "homes sold" and look at both condo and residential together , the number sold is up 15% and average sales price down 1% year over year Jan 1 - April 30.

I have no crystal ball, but it stands to reason that May and June should be pretty strong as the last contracts written to take advantage of the tax credit work their way to closed.  The tax credit program ended April 30, but we have until June 30 to close out those transactions.

You know I'm watching for positive signs that the market is improving.  My best guess is that it won't happen overnight, but that things will cautiously improve.

Comments (4)

Dagny Eason
Dagny's Real Estate - Wilton, CT
Fairfield County CT, CDPE Homes For Sale and Condo

Sounds like you have a good handle on your market up there.     I wonder what would happen if we did a comparison this year to three years ago?  Or two years ago?  

May 28, 2010 06:35 AM
Carol West
Carol West Real Estate, LLC - Hillsboro, OR
Real Estate Agent, Hillsboro, Beaverton, Portland

Dan, 

I'll take any good news that comes into the light!

Carol West, RE Broker 

HillsboroOR

May 28, 2010 06:36 AM
Aaron Silverman
SuccessfulRental.com, Bluewater Property Management, LLC and Lowcountry Turnkey Properties, LLC - Charleston, SC
Improving Real Estate Experience through Education

I agree the market is looking up, especially in my local market (Charleston, SC).  However, I am worried about the impact in the decrease in sales over the next few months.  It should not have an impact; however, the media will over play it which will result in consumer taking action based on the overreaction.

Aaron

May 28, 2010 06:38 AM
Dan Wolf
Wolf Real Estate Professionals - Anchorage, AK

Thank your for your comments.  I think we're all agreeing we may not be "out of the woods" yet, but there are some encouraging signs out there.

May 29, 2010 05:23 AM