September 2014 Des Moines Area MarketPulse Stats

This report is posted by the 15th of each month for the previous months transaction activity.

September Market Update

Entire MLS Report

Adel Report Altoona Report Ankeny Report Bondurant Report

Carlisle Report Clive Report Cumming Report Des Moines Report

Grimes Report Indianola Report Johnston Report Norwalk Report

Pleasant Hill Report Polk City Report Urbandale Report Waukee Report

West Des Moines Report Windsor Heights Report

 

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September 2014 Des Moines Market Snapshot

Simply Des Moines Annual Year End Predictions

 

Des Moines Real Estate Recovery Confirmed

With three-quarters of 2014 in the books, it is apparent that the Des Moines real estate economy has made the turn towards a normal market. All major indicators show that overall, home values are on the rise and days on market are shorter. And this is happening with fewer homes on the market for buyers to choose from. The pace of sales confirms that we are in a balanced market with 4½ Months of Inventory. A balanced market is defined as if no new homes were to come on the market, it would take between 4 and 6 months before buyers ran out of homes to purchase. Less than 4 months is a Sellers Market and more than 6 months is a Buyers Market. Des Moines will experience all three market types depending on the time of year.

It’s become an annual tradition at the end of September for me to predict where Des Moines’ real estate market will end up on December 31st.

Number of Homes For Sale
2014 has consistently had fewer homes for buyers to choose from with approximately 2½% less inventory over 2013 and almost 9% fewer homes compared to two years ago. My prediction is that Des Moines will continue to see low inventory into the end of the year but watch for consumer confidence to kick in during 2015.

Median Sale Price
Des Moines has seen a consistent rise in the Median Sale Price since 2011 and 2014 is also a solid year. As of the end of September, the median sale price YTD for 2014 is $165,000. That is just short of a 3% increase in overall home prices from last year. My prediction is that Des Moines will continue to see slow and steady overall appreciation of values of between 2.75% and 3% as we finish 2014.

Average Contracts Written
This number is often ignored, but it can be one of the more telling indicators of the markets health and activity. Average contracts written, also referred to as Pendings, is the best indication of future closed home sales. We are currently approximately 2½% behind last years Pendings. My prediction is that we will end 2014 slightly behind in Average Contracts Written.

Total Home Sales Closed
With my prediction of average contracts written being down at years end, I also believe that the total number of homes sold for 2014 will be down, however it will be very close to 2013’s record of 10,750. So my final prediction will be a slight drop in closed home sales but everyone will agree that it’s close enough to feel like we had a very good year in real estate sales for Des Moines.

Click The Graphic Images Below To Download Full PDF

September 2014 Balance of the Market Report

September 2014 Inventory Breakdown By Type

September 2014 Homes For Sale

September 2014 Pending Transaction Count

September 2014 Home Sales YTD

September 2014 New Construction Inventory

September 2014 Active, Pending, Sale Price Average

September 2014 Active Listings Vs Previous 5 Years

September 2014 YTD Price Point Avg Pricing

 September AVM Comparison Chart

SimplyDesMoines.com is your local resource for real estate market conditions and statistics in the Des Moines and central Iowa area.
Les Sulgrove is a licensed REALTOR® with Keller Williams Greater Des Moines and has been licensed to sell real estate in Iowa since 1990. If you are looking to buy or sell your home, contact Les today!

 

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August 2014 Des Moines Area MarketPulse Stats

This report is posted by the 10th of each month for the previous months transaction activity.

Entire MLS Report

Adel Report Altoona Report Ankeny Report Bondurant Report

Carlisle Report Clive Report Cumming Report Des Moines Report

Grimes Report Indianola Report Johnston Report Norwalk Report

Pleasant Hill Report Polk City Report Urbandale Report Waukee Report

West Des Moines Report Windsor Heights Report

 

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August 2014 Des Moines Market Snapshot

A Second Spring Is In The Air!

 Child Wearing Red Rain Boots Jumping Into A Puddle
There are a lot of signs that we are entering into our second Spring Market! Constant rain showers, having to mow lawns twice a week, thunderstorms and, oh yes, a pick up in real estate activity. It’s a common occurrence here in Central Iowa. August is our typical chance to pause and catch our breath while attentions are turned to the Iowa State Fair and of course, back to school. And while Labor Day weekend marks the unofficial end of summer, buyers and sellers return their focus to home searches and home sales.

If you were to look at the number of homes currently for sale, it would appear that things have slowed down but actually Pending Home Sales have increased at a rate faster than new home sellers are coming on the market.  In fact, the number of Pending Transactions as of 8/31 are within 100 of last year.  And since we are talking about Active and Pending Sales, be sure and look at Year to Date Sold transactions. We are neck and neck with last years Sold counts at this same time with just over 7,100 closed transactions with four months to go. Next month is my annual year end prediction report. I think there will be some surprises in store.

Last month I introduced a new chart called AVM Comparison Over Time.  AVM stands for Automated Valuation Model.  Corelogic produces an AVM.  An AVM is an automatically calculated analysis of a residential property using public record information and recent comparable home sale information.  The National Association of REALTORS produce an AVM that they call RVM, REALTORS Valuation Model.  The advantage of an RVM is that actual MLS Sales data is incorporated into the value.  Zillow and Trulia both produce their own versions of home values.

Using my personal home as an example I have updated my CMA every 30 days since May. I am being as objective as possible and as you can see by clicking on the report below that while my CMA shows my value has dipped a bit, RPR continues to show a rise in values and Corelogic & Zillow both show a decline. For the most part all values are within 5% of each other.  Next month this report will shuffle down in the group below, but it’s certainly worth keeping an eye on this one as time goes by.

Click The Graphic Images Below To Download Full PDF

August 2014 Balance of the Market Report

August 2014 Inventory Breakdown By Type

August 2014 Homes For Sale

August 2014 Pending Transaction Count

August 2014 Home Sales YTD

August 2014 New Construction Inventory

August 2014 Active, Pending, Sale Price Average

August 2014 Active Listings Vs Previous 5 Years

August 2014 YTD Price Point Avg Pricing

SimplyDesMoines.com is your local resource for real estate market conditions and statistics in the Des Moines and central Iowa area.
Les Sulgrove is a licensed REALTOR® with Keller Williams Greater Des Moines and has been licensed to sell real estate in Iowa since 1990. If you are looking to buy or sell your home, contact Les today!

 

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Lunch With Les Challenge #6

August 2014, Lunch with Les Challenge Winner Eric Smith!

Eric is a Mortgage Originator with Midwest Family Lending at 3240 99th St, Urbandale.

Challenge Restaurant
Iowa Machine Shed Restaurant
11151 Hickman Rd, Urbandale, IA
Website: http://www.machineshed.com/
Facebook: https://www.facebook.com/pages/Iowa-Machine-Shed/252413114789238

The Clue

Iowa Machine Shed

The Winners Selfie Photos

MachineShed4

Lunch Photo MachineShed2
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Are Des Moines Mortgage Rates On The Rise?

MortgageRates

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