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:
“We are definitely seeing things pick up now that the holiday season is behind us. Pending sales are back up over our 2 month average. This isn’t too surprising with the great rates that are out there as well as the first time home buyer $7500 tax credit. An interesting thing to note is that new listings are down significantly from both our average and where they were last year at this time.
My research indicates this is due to a smaller number of new construction starts as well as the fact that many people are choosing not to put their home on the market right now because they know they can’t break even. An interesting statistic I ran across this past weekend was that 20% of homeowners in the US owe more on their home than the home is worth. Now we know that all real estate is local and that number is surely much lower here in the Des Moines area, but it still is a sobering statistic.
Let’s all keep in mind when we here the incessant bad news from the media, that houses are still selling. People are living longer, people are still having babies, and those people all need somewhere to live. We are selling just as many houses right now as we were in the 90’s. Rates are still extremely low and there are countless incentives out there to buy. Now is the time to hop off the fence.”
– 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.
Related Posts
Des Moines Iowa Real Estate Market Watch – Week of September 8th, 2008 
Des Moines Iowa Real Estate Market Watch – Week of November 3rd, 2008
Des Moines Iowa Real Estate Market Watch – Week of December 1st, 2008
Des Moines Iowa Real Estate Market Watch – Week of October 27th, 2008
Des Moines Iowa Real Estate Market Recap – Week of January 12th, 2008
Des Moines Iowa Real Estate Market Watch – Week of October 6th, 2008
