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Bring On The 4th Quarter
As we begin the final three months of 2018, Des Moines real estate is in transition. With home inventory levels on the rise, the feeling from veteran Realtors is that the Des Moines real estate market is changing yet again.
Monthly Market Snapshot as of September 30th
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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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On September 28th, the Des Moines real estate market surpassed 4,000 listings for the first time since October of 2014.
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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The reason that the $800,000 to $900,000 price point and Ab0ve $1,000,000 price points are 0.0 is because there were no sales in those price points during the month of September. There are 20 homes for sale between $800,000 & $900,000 and 39 (yes 39) homes priced over $1,000,000 for sale! Needless to say anything priced over $700,000 is in an extreme buyers market.
~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.