Here are the Market Stats for the week of June 25–July 2, 2007.  These numbers are for single family homes in the whole Mat-Su Borough.

The days on market column is beginning to show in stark contrast the difference between houses that sell and houses that don’t. 

The average days on market for all active listings has held almost rock solid steady for quite awhile at 100 days, give or take a day.  This is the average for all the homes for sale in the valley.  Notice at the same time that the average price for all the homes for sale has held almost steady at about $306,000–$309,000.

     Average Price  DOM
 New 58 $272,776  
 Total Active 852 $307,023  99
 Pending  37 $223,230 54
 Closed  42 $247,459  63

Meanwhile, the houses that sell are only on the market about 60 days or so.  In fact this week the average days on the market for pending homes is only 54 days.  I think that is the lowest DOM for pendings so far this year.

7-2-2007 3 lineThis week also breaks the record for the year with closed sales. That would be encouraging if it wasn’t for the dramatic drop in pendings.  I really don’t think this is a major indication of anything. This week just happened to be an “end of month” week when a lot of the pendings tend to close. 

Active

The total inventory continues to climb but at a slightly slower rate.  This will probably keep climbing until August or September when I expect it to drop as people take their homes off the market for the winter. 

It “feels” to me like the market is still fairly healthy in that our listings are continuing to receive interest and offers are coming in.  It does seem that most buyers are not willing to pay the asking price for homes, however.  They are sometimes making offers that are ridiculously low.


!!! Notice to buyers !!! 
If a house has been on the market less than 30 days an offer more than 10% below asking price is not going to cut it. Actually, the truth is that an offer more than 5% under asking price is probably not going to get a serious counter.