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:

“It looks like we have about 6 months of inventory on the market.  This is a great number down from over 10 months a year or so ago (meaning if no further homes came on the market it would take 6 months to sell all the existing homes in Des Moines).

The first time home buyer tax credit has really spurred sales in all price ranges and I think it has had a great impact on our market here in Des Moines.  Remember, there are only roughly 45 days left to purchase a home and take advantage of the $8000 tax credit.  If someone you know is wanting to take advantage of this make sure they know that it is officially CRUNCH time.  They would need to identify and negotiate a deal in the next two weeks.

Curious about sales around the metro area?  See the figures below (note 4 months of inventory or less is a sellers market, 6 months of inventory is a balanced market and above 6 months of inventory is considered a buyers market).”

West Des Moines:  5.8 months of inventory
Ankeny 5.4 monhs of inventory
Johnston 7.2 months of inventory
Urbandale: 6.4 months of inventory
Norwalk: 4.6 months of inventory
Waukee: 7 months of inventory
Grimes: 5.3 months of inventory

–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: buyer, buying, des moines real estate, inventory, Listing, realtor, Sold