Saturday, October 07, 2006

Homes-Listed Inventory Levels

The number of homes listed for sale in Alaska MLS Inc stood at 1202 at the end of September. This is the fourth month in a row that the inventory has come to rest at this same level.

There was a surge of new inventory beginning in late spring. The number of homes for sale has doubled. Everyone's been talking about it. We are still a couple hundred listings below what was "normal" in the decade of the 1990's, however. I would characterize the current decade as an abnormal market.

A reporter asked me yesterday, in connection with the interview I did for Channel 2 news, if there are more buyers than sellers in the market. I'm not sure how to measure that. But I would interpret the leveling of the inventory as a sign that buyer demand and seller supply are back in balance.

There's usually a decline in inventory during the winter. There are a fair number of "wanna-be" sellers with overpriced property listings out there. If they don't achieve their unrealistic objectives this month, many will give up.

Sellers who want to create a sale face less competition during the dark months. Buyers at that time of year can expect to find good values then, too.

Right now is actually a good time for the value-conscious buyer. Good properties are still available; not all the best properties have been chosen. A buyer who deals with a seller who is committed to creating a sale before winter can be pleasantly surprised.

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