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Summer Is Ending On A High Note
Des Moines real estate overall is changing. During the month of August, the number homes for sale exceeded 3,800 for the first time since 2015. Also up is the median price of for sale, pending and closed properties. One category of homes for sale in particular is way up over last year. There are over 20% more new construction homes on the market at the end of August than last year at this time. It’s no surprise that with 1/3 of the for sale inventory and a median list price of $314,000, new construction sales are the first to see the slowdown moving in to fall. Resale business is actually seeing an increase in activity as a result of school being back in session and vacations for the most part over.
Monthly Market Snapshot as of August 31st
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New Construction Months of Inventory continues to increase deep into a Buyers market. Resale inventory and days on market are holding steady as a sellers market and selling at a faster pace. We are within days of breaking the 10,000 sale mark for 2018 and on track to again hit 14,000 transactions.
2018 Year Trend Reports
Active – Pending – Sold – Balance of the Market
Compared To 2017
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Will we hit 4,000 homes for sale in 2018? It is certainly possible at the rate that inventory levels are climbing.
Home Inventory and Pending Sales Compared Over Time
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This graphic allows you to see how Home Inventory and Pending Sales both compare to different points in time from a week a back to as far as 9 years back.
Months of Inventory
Buyer Pool and by Price Point
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~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.