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2017 Is Looking A Lot Like 2016
This is the third year in a row that home sellers in the Des Moines real estate market have been in control. Even though home inventory levels are ever so slightly on the rise, we are still about 800-1,000 homes short of what we would like to call normal. With the first half of 2017 in the books, all indications are pointing to another 14,000 closed sales in the Des Moines MLS by year end. Home values are increasing in a majority of the city and suburbs and multiple offers are driving the higher sale prices.
Since we are at the halfway point of the year, let’s take a look at some of the stats for 2017 so far.
- 6,134 homes have entered the market in the past 6 months.
- 8,836 homes have gone under contract.
- 6,919 homes have closed.
- 16% of the accepted offers made in 2017 did not make it to closing for various reasons such as failed home inspections or buyer financing.
- There have been 4,624 price reductions on homes and 749 price increases.
- The Average List Price of a home for sale in the Des Moines MLS has been just over $300,000.
- The Average Sale Price of a home was $289,500.
- All but 18 days in 2017 have been a Sellers Market.
- 4 out of 10 Homes For Sale Are New Construction.
Months of Inventory By Three Categories
(Click Graph To Download)
Months of Inventory by $100K Price Ranges
(Click Graph To Download)
Homes For Sale Inventory Mirrors 2016 At Mid Year
(Click Graph To Download)
Pending Sales Steady As It Goes
(Click Graph To Download)
Closed Transactions 392 Units Over Last Year
(Click Graph To Download)
Sellers Market Shows No Signs of Letting Up
(Click Graph To Download)
~Les Sulgrove, Broker
VIA Group REALTORS
If you are interested in selling your home or purchasing a home, give me a call! I will help you determine your best strategy based on your local market data.