Wendi Ingram Facts & Trends Spring 2013
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Transcript of Wendi Ingram Facts & Trends Spring 2013
116 East Washington Street • Washington, IA 52353
Check Us Out Online At:
Wendi IngramRealtor, CRS
226 E. 2nd StreetMuscatine, IA 52761
WendiIngram.com
Wendi IngramRealtor, CRS
226 E. 2nd StreetMuscatine, IA 52761
WendiIngram.com
1643
2 • RuhlHomes.com
the first quarter of 2013.Clinton, Camanche & Fulton
Listing Inventory: There was a 3% increase in properties listed for sale in the Clinton, Camanche and Fulton area; comparing 298 current listings to 289 properties for sale at the same time last year.Properties Sold: 33% fewer properties sold and closed in the first quarter of 2013, a decrease from 100 sales in 2012 to 67 sales in 2013.Average Sales Price: The average sales price through March 2013 was $83,900, a 10% decrease from the average sales price of $92,900 through March 2012.Residential Sales Volume: Sales volume decreased 39%, from $9,287,800 in the first quarter of 2012 to $5,623,200 in the first quarter of 2013.
Des Moines & Surrounding Area
Listing Inventory: There are 3,243 properties for sale in Des Moines, IA and the surrounding area; a 29% decrease from the same time last year when there was 4,548 properties for sale.Properties Sold: There was a 1% decrease in the number of residential properties sold, comparing 1,665 sales in 2012 to 1,651 sales in 2013.Average Sales Price: The average sales price was $170,900 in the first quarter of 2013, a 12% increase from the 2012 average sales price of $152,000.Residential Sales Volume: Sales
volume was up 11%, an increase from $253,131,900 in 2012 to $282,176,300 in 2013.
DeWittListing Inventory: DeWitt’s listing inventory is down 25%, from 52 properties listed for sale at the same time in 2012 to 39 properties currently for sale.Properties Sold: 14 properties sold and closed during the first quarter of 2013, compared to 23 sales in 2012, a 39% decrease.Average Sales Price: The average sales price of homes sold through March 2013 was $143,500, 23% more than last year’s average sales price of $116,300.Residential Sales Volume: Sales volume decreased 25%, from $2,674,900 in 2012 to $2,009,700 in 2013.
Dubuque AreaListing Inventory: There are 507 residential properties listed for sale in the Dubuque region. This is a 17% decrease from the same time last year when there were 612 properties for sale.Properties Sold: 2% fewer properties sold and closed in the first quarter of 2013, a decrease from 143 closings through March 2012 to 140 closings through March 2013.Average Sales Price: The average sales price of homes sold through March 2013 was $143,700, a 3% decrease from the average sales price of $148,900 through March 2012.Residential Sales Volume: Sales volume for the first quarter of 2013 was
$20,118,000, down 6% from 2012’s first quarter sales volume of $21,298,000.
Galena & Surrounding AreaListing Inventory: There are 362 properties for sale in Galena, Illinois and the surrounding area; a 1% increase in the number of properties for sale at the same time last year when there were 359 listings.Properties Sold: There was a 27% increase in the number of residential properties sold in the first quarter of 2013, comparing 15 sales in 2012 to 19 sales in 2013.Average Sales Price: The average sales price was $183,200 through March 2013, 16% higher than the $157,900 average sales price through March 2012.Residential Sales Volume: Sales volume was up 47% for the first quarter of 2013, an increase from $2,369,200 through March 2012 to $3,480,300 through March 2013.
Illinois Quad CitiesListing Inventory: The number of properties for sale is down 6% from the same time last year; a decrease from 846 listings to 792 listings currently.Properties Sold: In the first quarter of 2013, 8% more properties sold, comparing 354 sales through March 2012 to 382 sales through March this year.Average Sales Price: The average sales price increased 1%, from $99,200 through March 2012 to $100,100 through March 2013.
2013 Regional Real Estate Activity Chart
Summary continued on page 3
Average 2013Sales Price
2013 Number
Sold
% Change in Average
Sales Price from 2012
% Change in Number Sold
from 2012
2013Sales
Volume
Active Listing Count
2013
% Change in Active Listings
from 2012
% Change in Sales Volume
from 2012Burlington AreaCedar Rapids AreaClinton/Camanche/FultonDes Moines AreaDeWittDubuque AreaGalena & Surrounding AreaIllinois Quad CitiesIowa Quad CitiesIowa City AreaMaquoketa/Preston/BellevueMuscatine/Wilton AreaSouthwest WisconsinWashington Area
$100,200$161,300
$83,900$170,900$143,500$143,700$183,200$100,100$164,800$180,700$114,100$124,300$102,800
$77,200
+7%+8%
-10%+12%+23%
-3%+16%
+1%-4%0%
+30%+16%-11%-26%
+12%+12%-33%
-1%-39%
-2%+27%
+8%+18%
+1%+8%
+20%+36%-14%
+21%+21%-39%+11%-25%
-6%+47%
+9%+14%
+2%+40%+29%+21%-37%
-11%-16%+3%
-29%-25%-17%+1%-6%
-19%-12%-43%-12%-16%
N/A
105713
671,651
14140
19382454345
281139124
2331,788
2983,243
39507362792663
1,44377
228364109
$10,523,400$115,030,100
$5,623,200$282,176,300
$2,009,700$20,118,000$3,480,300
$38,242,800$74,820,700$62,349,400
$3,193,500$14,049,200
$9,356,700$1,851,600
Through March
Summary continued from page 1
RuhlHomes.com • 3
NEW RuhlHomes.com: Sold Information & Neighborhood Reports
In May, Ruhl&Ruhl REALTORS is launching an improved, even easier to use website, with a new look and more data to help consumers stay informed. RuhlHomes.com continues to have easy access to ALL properties for sale by all companies, and now allows consumers to search properties that have recently sold and receive reports about their market and neighborhood.
SEARCH ALL PROPERTIES With 1.2 million visitors in 2012, RuhlHomes.com has more listings and more visitors, giving buyers more properties to choose from and providing sellers the opportunity to reach a larger market. Visitors can search a streamlined website to make it easier and faster to find ALL properties for sale across eastern Iowa, western Illinois and southwest Wisconsin. This includes residential, commercial and multi-family properties, as well as lots, land and farms, for sale in 13 Multiple Listing Services (MLSs) across 29 counties.
SOLD DATA RuhlHomes.com is the only regional website to provide information on properties that have recently sold – including days on market and property details – helping our clients make more informed decisions when buying or selling real estate. Now you can find out how much your neighbor’s
property sold for as well as other comparable properties in your area. Or if you are interested in moving to a new neighborhood, you could see what homes in that area are selling for. “Today’s buyers and sellers want to be in control of their home buying and home selling experiences,” said Caroline Ruhl, President of Ruhl&Ruhl REALTORS. “They want to have all the information, trends and statistics at their fingertips. The tools on RuhlHomes.com help give them accurate information on which to base their buying and selling decisions. And they can also get in touch with a Realtor to help interpret that data.”
RUHL PREMIER ACCESS Ruhl Premier Access is a suite of new tools for all your real estate needs. Now search properties that have recently sold, receive market reports about real
estate activity in any neighborhood, and use Personal Shopper to be the first to know about new listings! Market and neighborhood reports share real estate trends by zip code to what’s happening on your block! These reports give you solds, new listings, price changes, statistics and trends, graphs, and so much more. Sign up for your free account today by visiting RuhlHomes.com. In addition, RuhlHomes.com remains the source for up to date real estate information, continuing to offer a wealth of information on mortgages, real estate trends by market, the home buying and selling process, relocation, new construction, investing in real estate and so much more! Visit RuhlHomes.com to experience our new website to stay informed!
Have you ever wanted to know how much your neighbor’s home sold for – find out now!
Residential Sales Volume: Sales volume grew 9% in the first quarter of 2013, from $35,115,900 to $38,242,800.
Iowa Quad CitiesListing Inventory: There are 663 homes and condominiums listed for sale in the Iowa Quad Cities, a 19% decrease from the same time last year when there were 820 properties for sale.Properties Sold: 18% more properties sold and closed in the first quarter of 2013, an increase from 385 sales to 454 sales.Average Sales Price: The average sales price decreased by 4%; from $170,900 through March 2012 to $164,800 through March 2013.Residential Sales Volume: Sales volume went up 14%, from $65,787,900
in the first quarter of 2012 to $74,820,700 in the first quarter of 2013.
Iowa City AreaListing Inventory: There is a 12% decrease in properties for sale in Iowa City, from 1,631 in 2012 to 1,443 homes and condominiums on the market currently.Properties Sold: Sales have increased 1% from 340 properties sold through the first quarter of 2012 to 345 sales closed through March 2013.Average Sales Price: There was no statistical change in the average sales price of homes sold in the first quarter of 2013, comparing $180,700 to $180,300 in 2012.Residential Sales Volume: Sales volume increased 2%, from $61,309,500 through March 2012 to $62,349,400 through March 2013.
Maquoketa, Preston & Bellevue
Listing Inventory: There are 77 properties for sale in the Maquoketa, Preston, and Bellevue area, 43% fewer than the 134 properties listed for sale at the same time in 2012.Properties Sold: 8% more properties sold during the first quarter of 2013, an increase from 26 sales in 2012 to 28 sales in 2013.Average Sales Price: The average sales price of homes sold through March 2013 was $114,100, 30% more than the average sales price of $87,800 through March 2012.Residential Sales Volume: Sales volume grew 40%, from $2,282,900 in the first quarter of 2012 to $3,193,500 in the first quarter of 2013.
Summary continued from page 2
Summary continued on page 4
4 • RuhlHomes.com
Regional Residential Real Estate Activity ChartBurlington Area (Burlington Board of Realtors)Cedar Rapids Area (Cedar Rapids Area Assoc. of Realtors)Southeast Cedar RapidsNortheast Cedar RapidsSouthwest Cedar RapidsNorthwest Cedar RapidsHiawatha & RobinsMarionEast of I-380: Mechanicsville, Anamosa, Mt. Vernon, Lisbon, etc.West of I-380: Walford, Fairfax, Atkins, etc.Corridor Area: Solon, Ely, SwisherCondominiumsClinton, Camanche & Fulton (Clinton Board of Realtors)DeWitt (Quad City Area Realtor Assoc.)Dubuque Area (Dubuque Board of Realtors)DubuqueNorth, South and West DubuqueIllinoisWisconsinGalena & Surrounding Area (Realtor Assoc. of Northwest IL)Illinois Quad Cities (Quad City Area Realtor Assoc.)Rock IslandMilan & Rural Rock Island CountyMolineCoal Valley, Rural Moline, MiscellaneousEast Moline & SilvisPort Byron, Upper Rock Island CountyMercer CountyHenry CountyCondominiumsIowa Quad Cities (Quad City Area Realtor Assoc.)DavenportBettendorf & RiverdaleBlue Grass, Buffalo, Durant & WalcottLeClaire, Pleasant Valley & PrincetonNorth Scott CountyMiscellaneousCondominiumsIowa City Area (Iowa City Area Assoc. of Realtors)Iowa CityCoralvilleNorthwest Iowa CityNortheast Iowa CitySoutheast Iowa CitySouthwest Iowa CityCorridor AreaMiscellaneousCondominiumsMaquoketa, Preston & Bellevue (Jackson County MLS)Muscatine & Wilton Area (Muscatine Board of Realtors)MuscatineWiltonMuscatine OutlyingCondominiumsWashington Area* (English River MLS)Wisconsin - Grant & Lafayette Co. (S. Central Wisconsin)MLS)(This representation is based in part on data supplied by the REALTOR Associations or their Multiple List ing Services. Neither the Boards nor their MLS guarantee or is in any way
responsible for its accuracy. Data maintained by the Boards or their MLS may not reflect all real estate activity in the market.) *Washington Area includes Mount Pleasant and Fairfield.
Home prices are going up! This is being caused primarily by pent up buyer demand and rapid absorption of our listing inventory. According to the Federal Housing Finance Agency, of the 302 MSAs (Metropolitan Statistical Areas) ranked by home price appreciation in 2012, all of our markets in eastern Iowa ranked in the top 39% in the nation – the Quad Cities at 77th; Dubuque at 93rd, Iowa City at 97th; and Cedar Rapids at 117th. All of our markets’ home prices are
up, as shown in the chart below. Over the past 5 years prices increased: 7.10% in Dubuque; 2.09% in the Quad Cities; 1.73% in Iowa City; and 0.82% in Cedar Rapids. This compares to other cities: Des Moines, IA down 4.82%; Chicago, IL down 25.54%; and nationally prices fell 12.87%. Because home prices in our markets didn’t fall as drastically as other areas of the country, the increase in home price appreciation has continued to be a modest, but steady gain locally.
Home Prices Appreciating in our MarketsThrough March
*Information courtesy of Federal Housing Finance Agency (FHFA) for fourth quarter 2012. FHFA stats always run one quarter behind. Their full report is accessible at www.fhfa.gov. Rankings based on annual percentage change in house prices.
Cedar Rapids, IADavenport-Moline-Rock Island , IA-ILDes Moines-West Des Moines, IADubuque, IAIowa City, IAUSA
117
77
172
9397
Top 39%
Top 25%
Top 57%
Top 31%Top 32%
+0.85%
+1.58%
-0.13%
+1.32%+1.27%+5.45%
+0.82%
+2.09%
-4.82%
+7.10%+1.73%-12.87%
Metropolitan Statistical Areas (MSA’s)
2012 Appreciation Ranking of 302 MSA’s*
Comparison to All 302 MSA’s
Percent Change in House Prices1 Year 5 Year
Muscatine & Wilton AreaListing Inventory: There are 228 homes and condominiums listed for sale currently in the Muscatine and Wilton area, 12% fewer than the same time in 2012 when there were 260 properties for sale.Properties Sold: There were 20% more residential properties sold in the first quarter of 2013, comparing 94 sales last year to 113 sales in the first quarter of 2013.Average Sales Price: The average sales price was $124,300 through March 2013, a 16% increase from the $107,300 average sales price in the first quarter of 2012.Residential Sales Volume: Sales volume was up 29%, an increase from $10,922,900 through March 2012 to $14,049,200 through March 2013.
Southwest WisconsinListing Inventory: There are 354 properties for sale in the southwest Wisconsin region, 16% fewer than the 431 properties listed for sale at the same time in 2012.Properties Sold: 36% more properties
sold during the first quarter of 2013, an increase from 67 sales in 2012 to 91 sales in 2013.Average Sales Price: The average sales price of homes sold through March 2013 was $102,800, 11% fewer than the average sales price of $115,200 through March 2012.Residential Sales Volume: Sales volume grew by 21%, from $7,717,200 in the first quarter of 2012 to $9,356,700 in the first quarter of 2013.
Washington AreaListing Inventory: There are 109 properties for sale in Washington, Iowa and the surrounding area. This is the first year we have tracked this data.Properties Sold: Sales have decreased 14% from 28 properties sold through the first quarter of 2012 to 24 sales closed through March 2013.Average Sales Price: The average sales price was $77,200 through March 2013, a 26% decrease from the average sales price of $104,800 through March 2012.Residential Sales Volume: Sales volume shrank 37%, from $2,934,700 through March 2012 to $1,851,600 through March 2013.
Summary continued from page 3
RuhlHomes.com • 5
Regional Residential Real Estate Activity ChartCurrent
MLS Listings% of Active
Listings2013 Avg.
Sales Price2013 Sales
Volume2013
# Sold% of Unit
SalesSales/
List2012
# Sold2012 Avg.
Sales Price2012 Sales
VolumeBurlington Area (Burlington Board of Realtors)Cedar Rapids Area (Cedar Rapids Area Assoc. of Realtors)Southeast Cedar RapidsNortheast Cedar RapidsSouthwest Cedar RapidsNorthwest Cedar RapidsHiawatha & RobinsMarionEast of I-380: Mechanicsville, Anamosa, Mt. Vernon, Lisbon, etc.West of I-380: Walford, Fairfax, Atkins, etc.Corridor Area: Solon, Ely, SwisherCondominiumsClinton, Camanche & Fulton (Clinton Board of Realtors)DeWitt (Quad City Area Realtor Assoc.)Dubuque Area (Dubuque Board of Realtors)DubuqueNorth, South and West DubuqueIllinoisWisconsinGalena & Surrounding Area (Realtor Assoc. of Northwest IL)Illinois Quad Cities (Quad City Area Realtor Assoc.)Rock IslandMilan & Rural Rock Island CountyMolineCoal Valley, Rural Moline, MiscellaneousEast Moline & SilvisPort Byron, Upper Rock Island CountyMercer CountyHenry CountyCondominiumsIowa Quad Cities (Quad City Area Realtor Assoc.)DavenportBettendorf & RiverdaleBlue Grass, Buffalo, Durant & WalcottLeClaire, Pleasant Valley & PrincetonNorth Scott CountyMiscellaneousCondominiumsIowa City Area (Iowa City Area Assoc. of Realtors)Iowa CityCoralvilleNorthwest Iowa CityNortheast Iowa CitySoutheast Iowa CitySouthwest Iowa CityCorridor AreaMiscellaneousCondominiumsMaquoketa, Preston & Bellevue (Jackson County MLS)Muscatine & Wilton Area (Muscatine Board of Realtors)MuscatineWiltonMuscatine OutlyingCondominiumsWashington Area* (English River MLS)Wisconsin - Grant & Lafayette Co. (S. Central Wisconsin)MLS)
2331,788
158208161125
39200232151134380298
39507351107
3118
362792120
57162
28834761
16074
663313107
33312335
1211,443
309113142
41328962
194461
77228132
1671
9109364
8%11%8%7%2%
11%12%
8%7%
26%
69%21%
6%4%
15%7%
21%4%
10%6%8%
20%9%
47%16%
5%5%3%5%
19%
21%8%
10%3%2%6%4%
13%33%
58%7%
31%4%
$100,200$161,300
159,300182,600134,700123,100224,100183,500147,800136,800249,100148,600$83,900
$143,500$143,700
151,700128,300
89,000118,100
$183,200$100,100
82,900108,400101,200109,900
96,100149,700
97,60089,500
145,000$164,800
125,200300,000153,600253,300211,30083,100
128,200$180,700
249,500201,700243,500136,300
74,500130,900295,700131,400143,000
$114,100$124,300
125,700115,700106,400160,500$77,200
$102,800
$10,523,400$115,030,100
8,762,00018,629,20010,103,300
6,647,2004,258,300
17,795,0009,753,7009,851,0008,718,000
20,512,400$5,623,200$2,009,700
$20,118,00015,166,000
3,976,400267,000708,500
$3,480,300$38,242,800
5,637,9003,034,7009,920,6001,759,0003,845,9002,244,9001,951,9006,803,7003,044,200
$74,820,70030,426,70022,798,500
3,686,0004,306,8006,128,5001,578,9005,895,300
$62,349,40018,460,500
4,033,9007,549,6001,226,500
372,4003,533,7004,435,7008,012,800
14,724,300$3,193,500
$14,049,2009,675,2001,388,3001,701,6001,284,100
$1,851,600$9,356,700
105713
55102
75541997667235
1386714
140100
3136
19382
682898164015207621
454243
762417291946
345742031
95
271561
10328
113771216
82491
8%14%10%
7%3%
13%9%
10%5%
21%
71%23%
2%4%
18%7%
26%4%
10%4%5%
20%6%
54%17%
5%4%6%4%
10%
21%6%9%3%1%8%4%
18%30%
68%11%14%
7%
94%97%96%96%98%97%98%98%95%96%97%99%92%91%92%95%93%92%89%84%95%95%96%95%96%94%97%91%92%95%97%96%98%97%96%97%90%96%96%96%96%99%96%86%94%95%95%98%93%94%95%93%94%96%95%85%
94637
539873461677905326
105100
2314311123
63
15354
702480145714146021
385205
82121222
943
340742040
86
1813629926946512116
2867
$92,200$148,900
126,000149,100117,700126,300236,300181,900162,100124,400226,200136,300$92,900
$116,300$148,900
142,100198,600
94,000129,200
$157,900$99,200
75,400121,200
99,100143,300
99,300164,500
90,60099,50085,200
$170,900126,700285,200178,500208,200201,700117,500146,300
$180,300217,000228,600235,800115,200122,400158,300216,200130,300160,100$87,800
$107,300107,800
93,000178,000139,900
$104,800$115,200
$8,670,700$94,848,800
6,679,40014,607,100
8,590,8005,808,2003,781,100
14,004,70014,590,600
6,593,1005,880,300
14,313,500$9,287,800$2,674,900
$21,298,00015,778,400
4,568,000564,000387,500
$2,369,200$35,115,900
5,275,5002,907,7007,931,5002,006,2005,662,7002,302,9001,269,1005,970,9001,789,400
$65,787,90025,972,10023,388,000
2,142,4002,497,8004,437,4001,057,4006,292,800
$61,309,50016,060,600
4,572,7009,431,100
921,500734,500
2,850,0002,811,2008,077,300
15,850,600$2,282,900
$10,922,9007,009,8001,115,5001,958,200
839,400$2,934,700$7,717,200
(This representation is based in part on data supplied by the REALTOR Associations or their Multiple List ing Services. Neither the Boards nor their MLS guarantee or is in any way responsible for its accuracy. Data maintained by the Boards or their MLS may not reflect all real estate activity in the market.) *Washington Area includes Mount Pleasant and Fairfield.
6 • RuhlHomes.com
Regional New Construction Home SalesActive
Inventory 3/31/11
Active Inventory
3/31/13
Active Inventory
3/31/12
% Change in Inventory
from 2012Sales2011
Sales2013
% Change in Sales
from 2012Sales2012
Cedar Rapids Area Houses Condos/VillasDubuque Area Houses Condos/VillasIllinois Quad Cities (Rock Island County) Houses Condos/VillasIowa Quad Cities (Scott County) Houses Condos/VillasIowa City Area Houses Condos/VillasTotal Regional Combined
261129132
624517221012
1167145
325139186786
212127
8576522423
716
1045747
19895
103613
-24%-20%-31%-45%-35%-67%-13%-43%
0%-13%-12%-13%+38%+59%+19%
-4%
6542231110
1761
463511532330
182
+9%+10%
+9%+27%+40%
-100%-86%-83%
-100%-15%
-3%-55%-28%-26%-30%-10%
161102
594234
820
416915041
274151123588
7146251414
0110
3934
5381721
163
745816
550981
342014563224
178
Through March
Transactions Rank Sales Volume* Total
OfficesTotal
AgentsTransactions Per AgentsCompany Name Transactions
Ruhl&Ruhl REALTORS
Skogman Realty, Cedar RapidsMel Foster Co., Quad CitiesColdwell Banker Mid-America Group, Des Moines
82
128
152
183
5,049
3,780
3,225
2,900
$749,811,624
$626,111,380
$472,597,438
$482,936,760
11
5
9
8
286
219
224
192
17.7
17.3
14.4
15.1
Ruhl&Ruhl REALTORS RankedIowa’s Largest Privately Owned Real Estate Company
Ruhl&Ruhl REALTORS was once again ranked the largest privately-owned real estate company in Iowa, according to RISMedia’s 2013 Power Broker Report. The report ranks the top 500 real estate companies in the country according to the number of transactions and sales volume. Ruhl&Ruhl ranked 82nd in the country for the number of home sale transactions closed, which was 5,049 in 2012. Ruhl&Ruhl’s all-inclusive sales
volume was $807,533,527*. Including non-residential transactions, Ruhl&Ruhl REALTORS closed 5,168 deals or 18.1 transactions per agent which places Ruhl&Ruhl agents among the most productive in the country. The National Association of Realtors reports an average of 7 sales per agent nationally. “2012 was a wonderful year for Ruhl&Ruhl REALTORS - our sales volume grew by 36.2% and we had 24.5% more transactions than the prior
year,” said Caroline Ruhl, President of Ruhl&Ruhl REALTORS. “And it looks like 2013 will be even better!” “We are excited and proud to earn this ranking,” Ruhl said. “I have been blessed to be surrounded by the best people in our business. At the end of the day, it always comes down to having the right people.” To view the 2013 Power Broker Report, visit this link, http://remag.rismedia.com/i/118999.
Combined Iowa & Illinois Quad Cities MLS Statistics2009 2010 2011 20132012 % Change
2012 vs. 2013Current MLS ListingsAverage Sales PriceTotal Sales VolumeTotal # of Sales YTD
1,887$130,300
$82,355,400632
1,804$129,000
$87,047,000675
1,869$120,400
$75,259,800625
1,456$135,200
$113,063,400836
1,666$136,500
$100,903,800739
-13%-1%
+12%+13%
Through March
*The RIS ranking and report is based on residential sales only. It excludes farms, land, commercial and other non-residential properties.
RuhlHomes.com • 7
New Housing Starts20082010 2011 20132012 % Change
2012 vs. 2013Burlington Area*BurlingtonWest BurlingtonCedar Rapids AreaCedar RapidsMarionRural Linn CountyHiawatha & Mechanicsville AreasDubuque AreaDubuqueEast DubuqueGalenaJo Daviess CountyPeostaSurrounding Dubuque AreaIllinois Quad CitiesMoline & Coal ValleyRock IslandEast Moline & HamptonColonaPort ByronGeneseoRural Rock Island County & MilanSilvisWhiteside CountyIowa Quad CitiesDavenportBettendorfRural Scott CountyEldridge & Long GroveLeClaire & PrincetonBlue Grass - city ofIowa City AreaIowa CityCoralvilleNorth LibertyRural Johnson CountyWest BranchWilliamsburg, Wellman & KalonaWest LibertyMuscatine AreaMuscatineMuscatine CountyWiltonOther AreasClintonDeWittMaquoketa, Preston & BellevueWashington Area*Total Regional StartsDes Moines Area***
N/AN/AN/A122
405326
37122
0020
4724
402110
1114
81193115
592
71301025
330086208620
N/A385N/A
N/AN/AN/A109
692313
45713
0022
4027
5001136
101
721837
5912
6122
529
300211007412
N/A334N/A
330
693322113
6016
0043
3716
033511102
78122815
715
17325
23310
120716042200
310350
220
794426
72
5515
0040
3628
510
1001515
74202712
690
95351039
623032014112
N/A340299
+50%+50%
0%-13%-25%-15%+57%+50%
+9%+7%
0%0%0%
+300%+3%
-43%-100%
-70%+200%+500%+100%
0%-80%
-100%-60%+5%
-40%+4%
+25%+17%+67%
+100%-23%-29%-80%-15%+67%-50%-33%
0%+133%
-50%+600%-100%
0%+100%+100%-100%
N/A-9%
+17%Source: Municipal offices. There may be additional new homes built which are not included with this data. *Burlington Area, Des Moines Area and Washington Area were recently added and little or no past data is available.**2013 totals include Washington Area information while 2012 totals do not. ***Des Moines Area is comprised of Adel, Altoona, Ankeny, Clive, Des Moines, Indianola, Johnston, Pleasant Hill, Polk City, Urbandale, Waukee, & West Des Moines.
While last year’s mild winter helped new home sales get off to a hot start, this year’s extended period of cold and snow has held back sales. Overall regional new home sales in the first quarter were 10% below 2012 totals, while new home starts for the period also fell by about 10%, as detailed in charts on pages 6 and 7. Not only the weather, but declining inventory, explain new house sales accounting for only about one of every 13 house sales across the region. New condos were about one in every five condo sales recorded during the quarter. Prices of new homes began their predicted rise earlier than expected, but sales per price range were pretty consistent with 2012 year-end figures:Below $300K = 60% of house sales$300-400K = 25% of house salesAbove $400K = 15% of house sales Regionally, ranch style homes were still a strong preference with a 72% market share, but this is down from 85% for all of 2012. Dubuque is most adamant about ranches, as 100% of new house sales were ranches. The Quad Cities sold only 40% ranches, while 43% were two stories. DUBUQUE: The Dubuque area built on a 69% increase in new house sales in 2012 by showing a 40% increase in house sales the first quarter, with all sales being ranches under $400K. Despite a 9% increase in housing starts, current inventory is 45% lower than last year. New condo sales remained very weak in Dubuque, with none reported this quarter. CEDAR RAPIDS: Overall sales were up 9%, from 65 units to 71. 72% of all houses were sold below $300K, while two story houses started to show strength in the market at 22% of sales, up 10% from a year ago. New condo sales were up 9%, as opposed to the regional drop of 23% in condo sales. The overall sales increase, coupled with 13% fewer new starts, combined to account for a 24% decrease in available new home inventory in this market area. IOWA CITY: New home unit sales for the first quarter were down from 53 last year to 38 in 2013, a drop of 28%. This is the largest drop seen across the region. Both house and condo sales suffered. With sales down, inventories did rise 38% despite new starts being down by 23%. New house inventory is 59% higher than
Declining New Construction Inventory
Slowing SalesThrough March
** **
** **
New Construction continued on page 8
116 East Washington Street • Washington, IA 52353
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226 E. 2nd StreetMuscatine, IA 52761
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Wendi IngramRealtor, CRS
226 E. 2nd StreetMuscatine, IA 52761
WendiIngram.com
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