Wasilla, Palmer 2024 Compared 2023 Real Estate Market

To analyze the real estate data provided, let's break down the key metrics and their changes from last year to this year for the Matanuska Susitna Borough-Wasilla and Palmer:

1. Total Active Listings:

   • Last Year: 1,520

   • This Year: 1,255

   • Change: -17%

   • Analysis: There's a significant decrease in the number of active listings, indicating a tighter market with fewer homes available for sale.

2. New Listings:

   • Last Year: 1,369

   • This Year: 1,145

   • Change: -16%

   • Analysis: The drop in new listings suggests a slowdown in the number of homes being put on the market, which could be due to various factors such as market conditions or seller hesitation.

3. Number Under Contract:

   • Last Year: 1,410

   • This Year: 1,255

   • Change: -10%

   • Analysis: A decrease in homes under contract might reflect a slower pace of transactions or possibly a more competitive market where buyers are taking longer to commit.

4. Number Sold:

   • Last Year: 1,411

   • This Year: 1,399

   • Change: -0%

   • Analysis: The number of homes sold remains relatively stable, indicating consistent buyer interest despite fewer listings.

5. Sold Volume:

   • Last Year: $591,574,032

   • This Year: $599,220,261

   • Change: +1%

   • Analysis: A slight increase in sold volume suggests that while fewer homes are being sold, the total value of transactions is slightly higher, possibly due to higher sale prices.

6. Average Sale Price:

   • Last Year: $419,259

   • This Year: $428,320

   • Change: +2%

   • Analysis: The average sale price has increased, which could be a result of higher demand or a shift towards higher-value properties being sold.

7. Median Sale Price:

   • Last Year: $390,000

   • This Year: $400,000

   • Change: +2%

   • Analysis: The median sale price also shows an increase, reinforcing the trend of rising home prices in the area.

8. Percent of List:

   • Last Year: 100%

   • This Year: 100%

   • Change: -0%

   • Analysis: Homes are selling at their list prices, indicating a balanced market where sellers are pricing accurately according to buyer expectations.

Overall, the Matanuska Susitna Borough real estate market is experiencing a reduction in available inventory and new listings, but prices are on the rise, suggesting strong demand and possibly a seller's market. The stability in the number of homes sold and the percent of list price indicates a consistent market environment.