Numbers are always extremely important to consider when buying, selling and financing a home. Each week, I receive a weekly market watch update providing the breakdown of the activity from last week. The report is provided by Heather Barglof at Peoples Company. As I continue to get them, I will continue to post them (with her permission of course). Here is her brief market commentary this week:
“Below is a snapshot of the Des Moines residential market watch. We had an increase in pendings and solds for the week but as you can see both pendings and solds for the month are down when compared to the numbers from last year at this same time. As you can also see the average price per square foot is also down about $8/ft in comparison to last year. What does this mean? On average in Feb of 2007 a home sold for $113/ft, if you took an average size of 1500 sq ft times $113 ft you would get a sale price of $169,500. If you take that same 1500 sq ft house in Feb of 2008 times the average price per foot today of $105 you would have a selling price of $157,500. Keep in mind these numbers are an average of all price ranges and all locations in the metro areas.”
I hope you continue to enjoy these updates as much as I do!
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