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. This week was a weather roller coaster as temps last Sunday hit close to record highs at 81 degrees and ending the week with daytime high almost 40 degrees cooler. Buyers and Sellers both realize that we are heading towards winter and it appears that activity has picked up as a result.
For the week ending October 26th, 2012, the Des Moines Area Association of Realtors number of homes recorded in the Multiple Listing Service was 4,398.274 of these homes were new on the market this past week and the average list price rose slightly to $205,844. The gap between the number of homes for sale compared to last year has narrowed in the last couple weeks from 18% to 16%
As the end of the month approaches, we start to look back at previous months activity to establish trends in the market. One stat that is a good indicator of what direction the market is heading is the Months of Inventory chart. Often you hear REALTORS talk about whether we are in a Buyers Market or Sellers Market. There is actually a third market type that doesn’t get a lot of talk, but should is an even or balanced market. So what does Months of Inventory mean? It’s really all about supply and demand. When there are more homes for sale than there are buyers, we call that a Buyers Market. Buyers have a lot of choices and can move on to another property if they can’t negotiate a sale under their terms. A Sellers Market is one where there is less than 4 months of inventory. Fewer homes to choose from causes buyers to have to compete with each other for the same home which benefits the seller. For the most of 2012 we have had between 4 and 6 months of inventory which translates into a healthy, balanced market. By the 2nd week of November, we will know where October’s Months of Inventory levels were.
As this week ended, there were 1,455 Pendings in the Multiple Listing Service. There were 1,193 homes pending during the same time last year. 174 Offers were accepted this past week which is up over last week with an average list price of all Pendings of 181,700 which is also up from last week.
As we head towards the end of the month, closed transactions begin to rise. This week 147homes closed bringing our year to date total up to 7,587 which puts us only 203 sales away from moving ahead of 2011 closed sales.The Average Sale Price for the last 30 days is just over $169,500 dollars and the Average time to market a home from listing to offer acceptance continues to remain at 105 days.
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 26th 2012
SimplyDesMoines.com Weekly Real Estate Market Report For Des Moines and Central IowaBy Les Sulgrove, Keller Williams Greater Des Moines Week Ending October 26, 2012
• 4,398 Homes On The Market Today 5,258 Homes On The Market At This Time Last Year• 274 New Listings Taken In The Last 7 Days• The Average Price Of A Home On The Market Today Is $205,844• 701 New Construction InventorySimplyDesMoines.comWeekly Real Estate Market Report Week Ending October 26, 2012
SimplyDesMoines.comWeekly Real Estate Market Report Week Ending October 26, 2012
• 1,455 Homes Under Contract Today 1,193 Homes Under Contract At This Time Last Year• 174 Offers Accepted In The Last 7 Days• The Average List Price Of A Home Under Contract Today Is $181,702SimplyDesMoines.comWeekly Real Estate Market Report Week Ending October 26, 2012
• 147 Home Sales Closed This Week• 7,587 Homes Have Closed Year To Date 6,388 During The Same Period Last Year• 1,199 Home Sales Ahead Of 2011 YTD• Average Sale Price Over The Last 30 Days Is $169,691• Average Days On Market Is 105 DaysSimplyDesMoines.comWeekly Real Estate Market Report Week Ending October 26, 2012
For More Informationwww.SimplyDesMoines.com Click On “Local Real Estate Statistics” For Monthly Recap ReportsSimplyDesMoines.comWeekly Real Estate Market Report
Real Estate Market Report Provided By Les Sulgrove Keller Williams Greater Des Moines Home Search Site www.SearchDesMoines.com (515) 966-4663 firstname.lastname@example.org Keller Williams – 10200 Hickman Ct. Ste. 100, Clive, IA 50325