The best barometer for a real estate market is a calculation called the absorption rate...and based on the current absorption rates for the Matsu Valley's real estate market, it indicates that it is a seller's market!
As a general rule of thumb, an absorption rate of under 15% is an indicator of a buyer's market as homes are not selling very quickly. Conversely an absorption rate of 20% or more is an indicator of a seller's market as homes are selling quickly.
In calculating our 2018 market as we head into the spring selling season, the absorption rate for the entire Matsu Borough real estate market is 22.85% with Wasilla's absorption rate just slightly higher at 24.7%. The Palmer's absorption rate is at a whopping 35.99%!
Although these areas had less overall sales in 2017 than in 2016, most areas experienced a slight increase in average pricing year over year.
If you're considering selling in 2018 check out our website to get an idea as to what your home is worth in today's market.
Feel free to call our office at (907)352-1828 to ask for a more specific report that's customized right down to your neighborhood to see what the outlook is for you.
Greg Shepard
Jack White Real Estate Matsu
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