What’s The Real Estate Market Doing?

Do you ever wonder how our real estate market is here 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:

“Again, we see our active listings way below where they were last year at this point which means that our active inventory is declining.  With the government seizing control of Fannie Mae and Freddie Mac I think that is a strong indicator of the direction the housing market is moving.  For those of you who aren’t moving anytime soon, but may be thinking about refinancing, now is the time, as rates have dropped SIGNIFCANTLY since Friday.  Please contact me if you have any questions about this.

I heard an interesting piece of information this morning so I of course started some more investigation.  In 2001 no one in Des Moines was complaining about the real estate market, things were good.  The first 6 months of that year we sold 4163 houses.  Speed up today, the market can be painted at times to be all gloom and doom (even though I tell you all every week that it isn’t).  The first 6 months of 2008 we sold 4066 houses, a difference of 97.  I found that very surprising when I heard that today, and I think you all probably will as well.  One difference I’m sure you will find though is days on market was probably quite a bit less in 2001 than today.  I don’t have the exact average from 2001, but today we are right around 97.  Remember though that 50% of homes that are priced right sell in 60 days. ”

– Heather Barglof, RE/MAX Real Estate Concepts

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.

Tagged as: Des Moines, Iowa, Market Watch, Real Estate