June 2014 Des Moines Area MarketPulse Stats

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

JuneGraphic

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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June 2014 Des Moines Market Snapshot

Here Come the Dog Days of Summer!

4th of July

We are at the point in the year where the market begins a gradual slow down.  As the peak spring market ends, the balance of the market starts to shift upward towards 4 to 6 months of inventory.  Prices tend to stabilize during this period. One would think that the rise in the number of listings for sale would indicate that sellers are gaining confidence and just now putting their homes on the market.  Actually the truth is that buyers are slowing down and this is evident by the the Pending Transaction Count.  In fact compared to the same time last year, Pending Sales (offers accepted) are down 7.8% while the number of homes for sale compared to last year are basically flat.  And with Pending Sales slowing, I expect closed transactions to begin tailing off as we move into July and August.  This is not meant to bring on panic or doom about the market.  It is what it is and buyer activity could easily pick back up.

Click The Graphic Images Below To Download Full PDF

June 2014 Balance of the Market Report
June Des Moines Balance of the Market Report Graphic
June 2014 Inventory Breakdown By Type
June Des Moines Inventory Breakdown By Type Graphic
June 2014 Homes For Sale
June Des Moines Homes For Sale Graphic
June 2014 Pending Transaction Count
June Des Moines Pending Transaction Count Graphic
June 2014 Home Sales YTD
June Des Moines Home Sales YTD Graphic
June 2014 New Construction Inventory
June Des Moines New Construction Inventory Graphic
June 2014 Active, Pending, Sale Price Average
June Des Moines Act Pend Sale Price Avg Graphic

June 2014 Active Listings Vs Previous 5 Years
June Des Moines Active Vs Prev 5 Years Graphic

June 2014 YTD Price Point Avg Pricing
June Des Moines Price Point Graphic

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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Economic Impact of Homes Sold In Iowa

Economic Impact of Homes Sold In Iowa

Economic Impact of Homes Sold In Iowa

Economic Impact of Homes Sold In Iowa

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Patent Litigation Reform Dies in the Senate

The term Patent Troll may not be familiar to you but in the real estate industry, it is.  And now that the US Senate has dropped this bill you may become even more familiar.

Patent Troll

In 2011, there was a suit filed against the real estate industry over the use of internet based mapping.  Imagine a home search website that allows you to search for homes and displaying them on the web in a map.  A claim was made that the patent for map website searches was held and that all real estate websites, Multiple listing services and state and local real estate associations were using this technology without permission.  A multimillion dollar lawsuit ensued and faced with the prospects of going to court to defend this claim, it quickly became apparent that it would be cheaper and faster to negotiate a settlement with this company while not admitting any wrong doing in exchange for a lifetime license to use this technology.  In other words, a “Shake down”.

This is where the term Patent Troll comes from.  If you think the real estate industry is the only one affected, they did the same thing to the travel business websites and other industries.

Legislation was proposed to stop Patent Trolls as is described in this web article from The White House itself  http://www.whitehouse.gov/blog/2013/06/04/taking-patent-trolls-protect-american-innovation  But on May 21st of this year, the bill that had gained traction in Congress was pulled by Senate Judiciary Chairman, Patrick Leahy (D-VT) effectively killing legislation for this congressional season.  http://www.realtor.org/articles/patent-litigation-reform-dies-in-the-senate

This last article reports that the legislation was ultimately not able to overcome several political hurdles on both sides of the aisle. political opposition from trial lawyers that put pressure on Democrats and the upcoming midterm elections where Republicans feel confident that they will take back control of the Senate thus limiting their incentives to want to make further compromises on this issue. Republicans believe they can get a bill they like better in the new Congress.

Please remember this “posturing” as we head into the fall election season.  Legislation would have a much better chance of passing if our elected representatives would stop posturing and begin working together.  Do I hear an Amen?

 

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May 2014 Des Moines Area MarketPulse Stats

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

Des Moines Monthly Stats

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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May 2014 Des Moines Market Snapshot

Things are not always as they seem.

Ask almost any REALTOR® how the real estate market is right now and they will say “CRAZY!”  And they are probably right.  New listings coming on the market are experiencing a frenzy of showings and in many cases multiple offers.  Buyers are discovering as well that if you find a home you like, you had better be prepared to act on it right then and there or it may be sold to someone else tomorrow.

This is what a normal spring market is like.  But is this high activity being experienced overall in the market?

One of the most popular charts that I produce each month is the Balance of the Market report. It shows whether we are in a buyers market, sellers market or even market.  The report I publish is what the entire MLS is experiencing.  Currently we are at 3.6 Months of Inventory.  In other words if no new listings came on the market, it would take 3.6 months to sell out our current listing inventory.  3.6 Months represents a Sellers Market.  Prices tend to rise in a Sellers Market as well.

The market with homes for sale above $300,000 are in a Buyers Market with 6.3 Months of Inventory.  Characteristics of a Buyers Market are declining prices.  Both market types can experience heavy activity, especially in the spring.  Homes for sale under $100,000 are at 4.5 Months of Inventory, a Balanced Market.  Home prices are stable, not going up nor down.

So are you now totally confused?  Don’t worry!  Just remember that the real estate market is constantly changing.  As a seller, if you focus on condition and listen to feedback for price, your home should sell.  As a buyer, work with a proven real estate professional and be ready to act quickly if you find the home of your dreams.

 Click The Graphic Images Below To Download Full PDF

May 2014 Balance of the Market Report
May Des Moines Balance of the Market Report
May 2014 Inventory Breakdown By Type
May Des Moines Inventory Breakdown By Type
May 2014 Homes For Sale
May Des Moines Homes For Sale
May 2014 Pending Transaction Count
May Des Moines Pending Transaction Count
May 2014 Home Sales YTD
May Des Moines Home Sales YTD
May 2014 New Construction Inventory
May Des Moines New Construction Inventory
May 2014 Active, Pending, Sale Price Average
May Des Moines Act Pend Sale Price Avg

May 2014 Active Listings Vs Previous 5 Years
May Des Moines Active Vs Prev 5 Years

May 2014 YTD Price Point Avg Pricing
May Des Moines Price Point

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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