Here’s a quick update on the Wasilla and Palmer real estate market for February 2025. Overall, we're seeing a dynamic market with some interesting shifts compared to last year.

Key Stats at a Glance

Absorption Rate (how fast homes are selling):

Up 25.9% year-over-year (2.09 in Feb 2025 vs. 1.66 in Feb 2024)

YTD comparison shows a 23.35% increase.

Impact on Potential Buyers

For buyers, the rising absorption rate means homes are selling faster than they were last year. This can create more competition, especially in desirable neighborhoods. If you're in the market to buy, it’s a good idea to be pre-approved for a mortgage and ready to make quick decisions. Flexibility and preparation will be key in navigating this faster-paced market. On the bright side, it also indicates a healthy level of activity, which can bring more options to the market over time.

• Listing Prices:

The average list price dipped slightly by 1.38% ($534,653 vs. $542,119), but the median list price rose by 0.81% ($499,000 vs. $495,000).

• Sale Prices:

The average sale price climbed by 3.98% ($448,083 vs. $430,945), and the median sale price saw a notable jump of 11.54% ($435,000 vs. $390,000).

YTD comparisons are even more impressive, with median sale prices up 11.62%.

• Time on Market (ADOM - Average Days on Market):

Homes are moving about the same pace. February's average ADOM was down slightly to 60 days (-1.64%), while the median ADOM held steady at 43 days.

What Does This Mean?

It’s a mixed bag, but overall sales prices are trending up significantly, meaning homes are holding strong value or appreciating. While listing prices are relatively stable, higher sale prices suggest demand is pushing final purchase prices higher. Sellers are benefiting from this demand, though buyers may need to act fast as absorption rates highlight a tighter market.

Whether you're thinking of buying or selling, the Wasilla and Palmer real estate market continues to offer great opportunities. It’s shaping up to be another active year!

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All information is deemed reliable, but is not guaranteed. Interested parties are advised to independently verify all information contained herein. © 2025 MLS and FBS. Prepared by Donald Zimmerman, Discover Alaska Real Estate on Thursday, March 06, 2025 2:41 PM.