It’s Still Very Much a Buyers Market Here in Des Moines

by Tyler Osby on July 8, 2010

What’s The Des Moines Real Estate Market Doing?

Do you ever wonder how our real estate market is here in Des Moines? Thinking about buying a house in Des Moines? Unfortunately, we spend a lot of time listening to how rough things are in other cities around the country, but too often we don’t really consider what our real estate climate is like.

I’m a fan of having as much information available before I take action on any big decisions. I don’t know about you, but I think buying or selling a home is a pretty big deal.

As a blogger and mortgage professional, when I receive good information – I pass it on. Home listings and sales are an interesting set of information most of us don’t have super easy access to. Thankfully, I have a Realtor that hammers me with e-mails (Just kidding, I don’t mind them) on market updates and her opinion on where things are at.

Do YOU Need Help?

As a mortgage professional, I cannot sell real estate.  I can however help you connect with a Realtor.  If you are looking for some answers, I’d be happy to introduce you to someone who can help!  No question is silly or too off the wall.

I can also reach out to my connections throughout the country if you’re looking for real estate outside of Iowa.  So please, feel free to contact us, we’d love to help!

Why Should You Care About Statistics?

Whether you’re looking to purchase, sell or refinance a home – this stuff matters. These statistics are compiled from the Multiple Listing Service and cover the Des Moines, Iowa residential real estate market.

With her permission, I post the facts here so you can come up with your very own market opinion. Here’s this week’s market commentary:

“Since the end of the tax credit, real estate has slowed down some (to be expected after the end of an incentive).  For buyers though rates are low and there is plenty of inventory out there and best of all, most of it is priced right and will continue to be priced competitively.

Does this mean that this is a horrible time to sell your house?  No.  I’ve seen traffic on listings pick up significantly in the past few weeks.  Like we discussed 2 weeks ago though it is very important for sellers to price their homes right and have them show very well.  Average days on market is still around 90 and having a home that is staged and priced right can help you to sell your home much faster than your competition.

Currently in the Des Moines Metro there is about 10 months of inventory on the market (meaning if there were no new listings put on the market, it would take about 10 months to sell the inventory we currently have.  6 months of inventory is a balanced market, anything more a buyers market, anything less a sellers market”.

What Does This Report Cover?

I really enjoy this chart because it gives a breakdown of:

  • Days on the Market
  • Price Per Square Foot
  • Number of New Listings
  • Number of Expired Listings
  • Number of Price Reductions
  • Pending Home Sales (by price)
  • New Home Sales (by price)
  • All Active Home Sales (by price)
  • Best of all, it compares this week vs. last week and last year!

This is a great chart.  I’m not a Realtor and would never try to take the place of one.  If you’re looking for statistics in your specific neighborhood (because your neighborhood is the only one that matters when you’re selling), I can help connect you with the right Realtor for the job!

We Love Great Information and Love to Give Great Information!

If you’re a super cool person and have any market statistics you think our readers would find valuable, please feel free to contact me. If it’s relevant, It’ll show up here!

If you’re looking for my professional opinion or looking for a comment (press related), please contact me here.

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