MLS reports for November show an 11.5% average reported sales price for the first 11 months of this year, compared with all of 2004. The monthly reports show November sales at $297,163, down from the monthly reported sales that peaked at $305,530 for August.
This may not reflect an overall market decline, however, because higher-cost new construction jobs were probably part of the mix to a greater degree at the end of the summer. At this time of year one would expect to see more resale properties. There is also a certain amount of discounting that happens now by owners who want to get a property sold and not carry it through the winter.
However, there has not been a pattern in past years of values peaking in late summer, followed by general price declines on a monthly basis in the fall.
For full property searches, virtual tours and many other Anchorage real estate resources, visit RealS8.com. The site includes the detailed reports of market data referred to in this post.
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That's great information Niel! Our markets seem to be fairly similiar. Naperville benefitted from a solid appreciation rate of 9% last year, but the overall # of sales slipped 2.6% (a total of 86 fewer units sold)and the average market time increased to 69 days (a 32% increase)
It's your typical good news/ bad news situation, you'll get more... you just need to be a little more patient.
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