Welcome to the Weekly Real Estate Market Report for Des Moines and Central Iowa. This report is brought to you by Les Sulgrove from Keller Williams Greater Des Moines. These stats and more can be found at Simply Des Moines Dot Com. Let’s jump right into this weeks report!
For the week ending October 12th, 2012, the Des Moines Area Association of Realtorsreported 4,405 homes currently for sale. 267 new listings were taken this past week and the average list price of a home on the market this week is $206,221. The number of homes for sale is down by just under 18% from the same time last year.
It’s time to report the weekly “Mortgage Rates have hit Historic Lows” again. Bankers Trust Mortgage published a 30 year fixed rate mortgage this week of 2.875%. That is a full 2 percent lower than January 1st of 2010. 2 percent may not seem like a big difference, but let’s take a look at what 2 percent gives you in buying power.
In January of 2010 a buyer financing $175,000 taking out a 30 year fixed mortgage at 4.875% had a principal and interest payment of $928 dollars per month. That $928 dollar payment today at the interest rate of 2.875% would give a buyer almost $50,000 more buying power and not change the payment.
Asthis week ended, there were 1,467 Pendings in the Multiple Listing Service. There were 1,270 homes pending during the same time last year. 155 Offers were accepted this past week with an average list price of all Pendings of 180,802.
Closed transactions tend to slow down in the middle of the month as many home owners target their moving dates toward the end of the month. This week 127homes closed bringing our year to date total up to 7,225. We are still well over 1,000 transactions closed ahead of last year at this time and the Average Sale Price for the last 30 days is $173,729 dollars.
As Always, For More Information On Real Estate Market Conditions For The Des Moines Area, Go To www.SimplyDesMoines.com. While There, Be Sure And Click On “Local Real Estate Statistics” For Monthly Recap Reports.
Real Estate Market Report Is Provided By Les Sulgrove at Keller Williams Greater Des Moines and is produced weekly. Les’ home search website is www dot Search Des Moines Dot Com. Les can be reached by Phone at 515-966-4663 or by Emailing Les Sulgrove At KWDSM Dot Com. And don’t forget to check out Facebook Dot Com Slash Simply Des Moines.
Des Moines Weekly Real Estate Update October 12th 2012
SimplyDesMoines.com Weekly Real Estate Market Report For Des Moines and Central IowaBy Les Sulgrove, Keller Williams Greater Des Moines Week Ending October 12, 2012
• 4,405 Homes On The Market Today 5,356 Homes On The Market At This Time Last Year• 267 New Listings Taken In The Last 7 Days• The Average Price Of A Home On The Market Today Is $206,221• 17.8% Behind 2011 Home Inventory LevelsSimplyDesMoines.comWeekly Real Estate Market Report Week Ending October 12, 2012
SimplyDesMoines.comWeekly Real Estate Market Report Week Ending October 12, 2012
$928/moSimplyDesMoines.comWeekly Real Estate Market Report Week Ending October 12, 2012
• 1,467 Homes Under Contract Today 1,270 Homes Under Contract At This Time Last Year• 155 Offers Accepted In The Last 7 Days• The Average List Price Of A Home Under Contract Today Is $180,802SimplyDesMoines.comWeekly Real Estate Market Report Week Ending October 12, 2012
• 127 Home Sales Closed This Week• 7,225 Homes Have Closed Year To Date 6,046 During The Same Period Last Year• 1,179 Home Sales Ahead Of 2011 YTD• Average Sale Price Over The Last 30 Days Is $173,729• Average Days On Market Is 109 DaysSimplyDesMoines.comWeekly Real Estate Market Report Week Ending October 12, 2012
For More Informationwww.SimplyDesMoines.com Click On “Local Real Estate Statistics” For Monthly Recap ReportsSimplyDesMoines.comWeekly Real Estate Market Report
SimplyDesMoines.com Provided By Les Sulgrove Keller Williams Greater Des Moines Home Search Site www.SearchDesMoines.com (515) 966-4663 firstname.lastname@example.orgKeller Williams – 10200 Hickman Ct. Ste. 100, Clive, IA 50325