Happy Birthday United States of America & Residential Market Update Pt 1 from Dave & Travis!
Happy 4th of July everyone and best wishes for the rest of what is likely to be a crazy 2024! I am always amazed by the patriots that stood tall and risked everything to create our amazing one of a kind country 250 years ago! Thanks to the patriots we still have and lets LOVE America!
"June 2024 Matsu Valley “CORE” Area
Residential Market Update Part 1 from Dave & Travis! "
As we step into the 2nd half of 2024, I wanted to share a comprehensive update
on the real estate market in the Matsu Valley CORE area and other key regions in Alaska.
It has been a while since I published an update.
Not because I'm not watching the market intently though.
I have been waiting for supply and demand to even out and especially
this month we have seen a big change. Active listings (supply) increased
from 347 homes to 421 home in just 1 month marking this highest number
since the same time in 2020 but still less than 2019 by far.
So yes more to choose from for buyer's and days on market for
active listings is well over 100 DOM.
But, homes in the $300-400,000 range are still selling quickly
in most cases and still with multiple offers.
$500,000+ homes you have lots of choices and seller's are getting nervous!
Pending Sales (demand) are down even from 2019 creating a ratio between pending
and active of 70% (for every 10 actives there are 7 pending sales).
We have not seen that kind of number for over 4 years!
But still pretty solid demand in my view.
The big issue here is the low # of sales here and nationwide.
In the core area of the Valley we are on a pace to hit around
1200 sales for 2024 which would be about 2010-2011 level.
BUT the average sales price is up about 5% for 2024 sitting around $426,000!
My feeling is that there is a great deal of "pent up demand" waiting for interest rates
to drop or confidence to increase at which point sales will explode,
prices will go up and multiple offers will be the norm.
So waiting to sell might be OK but waiting to buy may not be smart.
Any questions lets talk and any feedback/thoughts would be really appreciated!
This is just part 1 and part 2 will come soon I promise:-)
Welcome! Consider the options below for our available listings. Take your pick!
Thank you for trusting us with your real estate journey.
Check out our Beautiful Listings at https://davesalaskahomes.com/featured-listing
Search for homes easily at https://davesalaskahomes.com/listing
Get your home’s estimated value instantly at https://davesalaskahomes.com/evaluation
If you or anyone you know has ANY thoughts of buying or selling real estate, lets connect to talk about the opportunities available in our market and how to reach your goals.
LET US BE YOUR TRUSTED GUIDE
Call or text Dave now at 907-863-7289
Call or text Travis now at 907-575-6779
davesalaskahomes@gmail.com