November 2014 Des Moines Area MarketPulse Stats

This report is posted by the 15th 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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November 2014 Des Moines Market Snapshot

Why Are There So Few Homes For Sale?

It’s a question that homebuyers and Realtors alike have been asking for the past couple of years. After all, home mortgage rates have remained ridiculously (also referred to as historically) low. In 2014 a homebuyer could expect to get a 30 year fixed rate mortgage at 4% or less.

For the majority of 2014, the Des Moines real estate market saw between a 4 and 6 months supply of homes for sale. That is considered a balanced market where there is an adequate supply of homes for sale and pricing tends to remain favorable to both buyers and sellers.

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The lack of listings isn’t limited to just our market. Nationally, the number of homes for sale has been down 27% compared to 2011. Des Moines experienced the exact same percentage as well. All the while, we will end up closing in excess of 10,000 sales with a quarter less inventory.

According to statistics from the National Association of REALTORS, consumer confidence is on the rise, monthly pending sales are making an upturn and the number of total home sales are increasing.

So why haven’t sellers figured out that this is the best time for them to have their homes on the market?

I believe that many homeowners over the last couple of years have taken the stance of wait and see. We are almost back to normal levels when it comes to short sale and foreclosure inventory (currently under 5% in Des Moines). New construction listings and sales are on the increase this past year showing a confidence by developers and builders of an improving economy.

It is my belief that many homeowners have in a sense taken the last couple of years to improve and update their homes. As a result, I predict that 2015 will be the year that we see a rise in listing inventory as well as home values due to these improvements. As is common in Iowa, don’t expect dramatic swings in any direction.

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November 2014 Balance of the Market Report

November 2014 Inventory Breakdown By Type

November 2014 Homes For Sale

November 2014 Pending Transaction Count

November 2014 Home Sales YTD

November 2014 New Construction Inventory

November 2014 Active, Pending, Sale Price Average

November 2014 Active Listings Vs Previous 5 Years

November 2014 YTD Price Point Avg Pricing

 November 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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October 2014 Des Moines Area MarketPulse Stats

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

October Market Statistics

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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October 2014 Des Moines Market Snapshot

“Knock Knock”
“Who’s There?”
“Sweet Deals”
“Sweet Deals For Who?”sweet candy house idea real for estate business 3d illustration

“Sweet Deals For Home Buyers
As We Move Toward The End Of The Year!”

Balance of the Market is Shifting!

I was working with a first time home buyer this past week and she asked me when the best time of year to buy a house was. My initial answer was “Whenever you are ready to buy!” which is true. But are there times of the year that favor buyers or sellers? Typically the month of November is when our market makes a dramatic change from an even market into a buyers market. A buyers market is defined as when there is more than 6 months of inventory.

Click The Graphic Images Below To Download Full PDF

October 2014 Balance of the Market Report

October 2014 Inventory Breakdown By Type

October 2014 Homes For Sale

October 2014 Pending Transaction Count

October 2014 Home Sales YTD

October 2014 New Construction Inventory

October 2014 Active, Pending, Sale Price Average

October 2014 Active Listings Vs Previous 5 Years

October 2014 YTD Price Point Avg Pricing

 October 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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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!

 

Read more