Where Are The Sellers?
The number of homes for sale continue to be well below the previous 5 years normals for this time of year. This low home inventory has pushed the Des Moines real estate market down into a Sellers Market. As a result many buyers are finding themselves in situations where they are competing for the same listing. When this happens, home prices tend to sell closer to list price and list prices also respond by rising. It’s the perfect example of Supply & Demand economics.
It’s been an interesting month for statistics. Active Inventory is down, Pendings are ahead of last year, Closed Sales are behind. List Price to Sale Price ratio is narrowing.
March 2014 Balance of the Market Report
March 2014 Inventory Breakdown By Type
March 2014 Homes For Sale
March 2014 Pending Transaction Count
March 2014 Home Sales YTD
March 2014 New Construction Inventory
March 2014 Active, Pending, Sale Price Average
March 2014 Active Listings Vs Previous 5 Years
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!