Tait Zimmerman's Market Report
Palmer, AK
Single-Family Homes
Advantage Alaska Real Estate | 907-519-0043
Palmer, AK
Sat Jun 12 2021
This week the median list price for Palmer, AK is $550,000 with the market action index hovering around 48. This is less than last month's market action index of 51. Inventory has increased to 63.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $550,000 | |
| Median Price of New Listings | $412,500 | |
| Per Square Foot | $226 | |
| Average Days on Market | 48 | |
| Median Days on Market | 28 | |
| Price Decreased | 19% | |
| Price Increased | 16% | |
| Relisted | 3% | |
| Inventory | 63 | |
| Median Rent | $1,550 | |
| Market Action | 48 | |
| Strong Seller's Market | ||
Prices hit another all time high this week. Given current conditions, prices continue to march higher. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $724,500 | 2,837 | 1 - 2.5 acres | 4 | 3 | 2 | 1 | 0 | 49 |
| $592,450 | 2,476 | 1 - 2.5 acres | 4 | 2 | 0 | 2 | 1 | 52 |
| $493,800 | 2,099 | 1 - 2.5 acres | 3 | 2 | 6 | 6 | 1 | 7 |
| $245,000 | 1,435 | 1 - 2.5 acres | 3 | 2 | 32 | 7 | 4 | 31 |