Market Update: Mat-Su Valley Single Family Homes

    Market Update: Mat-Su Single Family Homes

    It is no secret that the Mat-Su Valley is growing at a much quicker rate than most areas of Alaska. Buoyed by affordable new construction, larger lot sizes, and new employment opportunities, it is not hard to understand why consumers migrate towards this region. In fact, many residents with Anchorage employers are more than willing to sacrifice an hour of commuting each way in order to capitalize on this ripe housing market. Team Dimmick is continually striving to provide our clients with the latest data and we are finding ourselves working on transactions in this area more frequently than ever before. Here is what the latest statistics are conveying about this market segment.

    MARKET STATS – Year Over Year Review – Mat-Su – SF Homes
    – Today we have 957 ACTIVE listings, this time last year we had 909 – ACTIVE INVENTORY UP 5.2%

    – Today we have 334 PENDING sales, this time last year we had 328 – PENDING SALES ARE UP 1.8%

    – Today we have 687 CLOSED sales, this time last year we had 666 – CLOSED SALES ARE UP 3.1%

    – Today we have an average sales price of $275,901, last year it was $271,119– AVERAGE SALES PRICE IS Up 1.7%

    – The average days on market is 72 Days, this time last year it was  64 Days – AVERAGE DOM IS 12.5% LONGER

    – List to sales price Ratio is 99.2% (96.8% from orig), this time last year it was 99.1% (97.4% from orig) – FLAT

    Let’s break those down even further. All told these stats tell an extremely encouraging story. More homes than last year are for sale, causing the average days on market to increase. Increased inventory can typically mean a slight reduction in sales price, as buyers have more options available. However, we are also selling more homes than last year (up 3.1%) as the population in the Mat-Su increases yearly. This is clearly illustrated by the fact that sales price has also gone up by almost 2%. Affordable new construction options coupled with competitively priced established homes make it a fantastic time to invest in Mat-Su property or to capitalize on higher property values.

    If you would like a more specific breakdown of this, or any market, please call Luke Steele at 907-310-2822 or email Luke@teamdimmick.com.

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