Des Moines Iowa Real Estate Market Recap – Week of March 2nd, 2009 - Des Moines, Iowa Mortgage

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:

“As you can see from these numbers many people put their houses on the market last week. 334 to be exact, which is the largest number of listings I have seen come on the market in sometime now We also saw a serious amount of price reductions last week (324). If any of you are buyers, now is the time to get out there and take advantage of those great prices.

From time to time I take a look at a statistic called months of inventory on market. Sounds pretty self explanatory and it basically shows at the rate of sales we are seeing in the past 6 months, how many months would it take to sell all the homes that are currently on the market (this statistic doesn’t take into effect new listings coming on the market, just how long it would take to sell all the ones we currently have). A balanced market would give us 6 months of inventory on the market, anything less would be a sellers market, anything more would be a buyers market. Currently in the Des Moines Metro we are looking at 10.9 months of inventory on the market. If you are curious to see how your area compares to the overall market, see below:

Grimes- 8.6 months of inventory

West Des Moines- 10 months of inventory

Ankeny- 10.9 months of inventory

Norwalk-8.75 months of inventory

Johnston-11.3 months of inventory

Urbandale- 11 months of inventory

Clive- 12.2 months of inventory

Waukee- 15.3 months of inventory

NW Des Moines- 7.9 months of inventory

SW Des Moines- 10 months of inventory

Downtown- 53 months of inventory”

– Heather Barglof, RE/MAX Real Estate Concepts

Real Estate Market Watch

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 .