First, a big shout out to Les Sulgrove for being an incredible fountain of information. If data analysis, is your game, than I would highly recommend looking at his website at Simply Des Moines.
I wanted to share his information because it really paints a picture of the Central Iowa Market. First off, over 3000 sales in the first four months of this year. Houses are MOVING! Right now, realtors cannot list homes fast enough. There are so many buyers out there, we cannot put enough houses on the market. April 5th was the last day where the number of houses that were listed was the same as the number of houses that were put under contract. Every day since then, more houses have been sold than have been listed.
Next, almost two thirds of all houses sold have been between $100,000 and $300,000. (1,969 out of 3,084). On top of this, home prices have been consistently going up over the last 36 months.
Finally, I would like to point out that this is closed sales. This number does not include pending sales. That means, that every sign you see that says Sale Pending, is another number that you can add to this (as long as it makes it to closing).
Basically, it is a seller’s market. Nine times out of ten that I have done a home micro market analysis, I have found numbers like:
1. In the last year, 120 homes have sold in your neighborhood.
2. Right now, you only have 5 homes for sale.
That is less than a month’s worth of inventory. If you know anyone looking to sell, now is an incredible time. And the truly amazing part, is that it is still a great time for buyers with interest rates being so low. (Although that could be changing sometime soon, as four out of the last seven days have seen interest rate jumps.)
If you know anyone looking to sell a home, buy a home, or invest in real estate. They could not find a more informed consultant than myself. Give me a call at 515.724.3163 or email me at RyanLynch@KW.com.