The optimist in me is always watching for signs the Alaska market is getting stronger. The truth is Alaska has been very lucky compared to many cities. Blessed, even!
Still, after 15 consecutive years, prior to 2006, of each year being a little better than the year before, I'd like to get back to "business as usual."
Our market has slowed about 10% in volume and the number of transactions every year since 2006; Anchorage had roughly 2,400 residential sales each year traditionally. In 2007 there were about 200 sales less in the Anchorage area than the year before. In 2008 there were about 200 sales less than 2007, etc.
I looked at the number sales as of the end of July 2010, and am delighted there are about 5% more sales this year YTD over July 31 last year.
Maybe we've turned the corner?
The average residential home price was slightly higher at $328,000 - up from $322,000 from this time last year.
As of July 31, sales are slightly better than same time last year, in spite of two very poor months for sales this year, February and July. As of July 31 this year closed sales were 1,278. For the same period last year sales were 1,249.
I know a market trend isn't made on a few months. I will continue to watch, and report on what I see, with my bias towards the positive!
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