My Crystal Ball is Missing

For several years, I have taught new realtors  not to  discuss politics, religion or sex when working with buyers and sellers.  Everyone is entitled to their  political opinions; preferences for personal relationships and  their religious beliefs.  Now, I have added the ‘economy’ to that list of no win discussions.  And so I am going to abide by my own advice and not discuss the price of oil or when the planes are going to fly more than 10% full and when I can go to my favorite restaurant for a piece of tiramisu and a glass of sauvignon blanc. Instead, I’m going to walk my blind dog, Hapa, along the Park Strip and just give you the facts as I know them today regarding the residential market.   So take this quiz and draw your own conclusion about the marketplace because my crystal ball just zoomed to outer space.

1.What was the average sales price of a single family home in March 2020?

A. $401,779     

B.  $387,779     

C.  $357,000    

D.  $349,800

 

2. Has the average days on the market increased or decreased compared to last year YTD? 

 

3. What is the average days on the market?

A. 82   

B. 72

C. 66   

D. Over 90

 

4.. Identify three MOA areas where the average sales price has increased by over 30% YTD. 

 

5. The MOA has how many months of current single family inventory?

A. 4.2      

B. 3.2    

C. 2.2      

D. Over 4.5

 

6. Inventory begins to increase at what price point?

A. $350,000     

B. $450,000     

C. $550,000    

D. $600,000+

 

7. Residential Sales volume has increased or decreased YTD?

A. Decreased by 30%   

B.  Increased by 10%    

C.  Increased by 30%

 

8. In March 2019, there was 334 condos for sale in all price points.  How many were there in March 2020?

A. 384    

B. 336   

C. 283

 

9. The YTD average sales price of a condo is    

A.  $206,065     

B.  $194,000       

C.  $220,568

 

10. More condos sold in March 2020 than in March in the past eight years?

A. True   

B.  False

 

11. Where is SandHill Reserve?

 

12. Would you consider buying a home in today’s ‘economy’?

 

Answer Key: 1. A   2. Decreased   3. C   4. Girdwood, De Armoun/Potter Marsh, Downtown Anchorage   5. C   6. D   7. C   8. C   9. A   10. True   11. Corner of Sand Lake Road and West 80th