Mike's Market - October 12, 2009

End of 3rd Quarter 2009 Market Update

 

Wow! What a summer! The Anchorage Real Estate market gained momentum from April thru September. With the First-time Buyers Tax Credit bill, many new home buyers entered the market. According to the National Association of Realtors, 1/3 of all home sales in July were first-time buyer transactions and over 1.4 million buyers qualified for the tax credit. The NAR also reported the Pending Home Sales Index rose 6.4% in August, recording it's 7th straight month of increased home sales.

 

In the Anchorage Market, activity depends greatly on the price range and area. Homes listed between $200,000 and $400,000 had an average of 40 days on market in July. South Anchorage, Dimond, and the Hillside areas were the most active. Year to date, these areas had over 800 single family residence sales. With time running out on the First-time Buyers Tax Credit, deadline to purchase being November 30th, I would predict the month of October to be just as busy.