Last year, about this time, I did a post http://activerain.com/blogsview/54400/RELAX-Chicken-Little regarding the Juneau market. I was going to use that one as a template to do a similar market report tonight. What I ended up with though was a side-by-side comparison of the two markets. Current market statistics are in bold.
The comparison notes are more interesting than what I was originally going to post. I find it interesting that really, not much has changed. If you just look at the statistics, you will see some areas that comes across as fairly dramatic, but if you look at the size of our market you will see how a single listing or sale can throw off everything (like highest and lowest priced home).
There are 76 (73) single family homes, ranging in price from $185,000 - $1,200,000. (219,000 - 795,000)
The average asking price is $386,031 (364,108). The median is $354,900. (359,900)
<250,000 - 8 listings (7 listings)
<300,000 - 16 listings (11 listings)
<350,000 - 13 listings (15 listings)
<400,000 - 14 listings (19 listings)
<450,000 - 9 listings (11 listings)
<500,000 - 5 listings (5 listings)
<600,000 - 6 listings (4 listings)
>600,000 - 5 listings (1 listing)
There are currently 19 (18) listings under contract, meaning they have an accepted offer and are heading to closing. They range in price from $135,000 - 499,900 (85,400 to 539,900). The average asking price is $336,439 (298,411) and the median asking price is $338,000 (294,750).
This means at this time there is about a four month supply of homes on the market. National statistics indicate that a six month supply of homes is an indicator of a balanced market. If you take out the high end homes (those over $500,000) we really only have about 3.5 months worth of homes on the market.
In February and March of 2006 there were 24 homes sold, prices ranging from $150,000 - 561,500.
In February and March of 2007 there were 22 homes sold, prices ranging from $189,000 - 594,000.
Reasonably priced homes in good condition are still selling! Relax.
;)
;)
