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Des Moines Home Real Estate Listings

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Des Moines Home Real Estate Listings document sample

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									Des Moines Area Association of REALTORS®
Current Des Moines-Area Real Estate Market Statistics – Residential
Updated through September 2008

Current Des Moines-area market* statistics:

                        Contracts Contracts Avg Sale Price Avg Days                Active
                        Written   Closed                       on Market           Listings
    September 2008      646       749       $165,923           86                  6069
    September 2007      682       756       $171,226           84                  6980
   *Primary area served by DMAAR includes Dallas, Polk, and Warren Counties

Analysis of current Des Moines-area market statistics:
    Number of active listings continue to decline from 6191 in August to 6069 in September
    Days on market went down from 97 days in August to 86 days in September
    Average sale price is holding steady
    September 2008 was right on target with September 2007 which is a good sign that the
       Des Moines area real estate market is holding its own.
    DMAAR’s new Ad Campaign “Des Moines Hottest Secret” – “It’s a Great Time to Buy a
       Home” was launched in July.

Lawrence Yun, National Association of REALTORS® chief economist, said existing home sales
will be rising in 2008 despite challenging economic times.

Pending home sales activity surged as buyers took advantage of low home prices and affordable
interest rates. The Pending Home Sales Index jumped 7.4 percent to 93.4 from an upwardly
revised reading of 87.0 in July, and is 8.8 percent higher than August 2007 when it stood at 85.8.

Every housing market is unique, and all real estate is local. That’s why the National Association
of REALTORS® brings sales data information on a local level. There are a number of factors
affecting home prices including: The health of the local job market; foreclosure rates; housing
inventory and debt-to-income and mortgage-servicing-cost-to income ratios.

About the Des Moines Area Association of REALTORS®:
Founded in 1911, the Des Moines Area Association of REALTORS® is the voice for real estate
in the Des Moines area, elevating the professional services of our members as they meet the
needs of their customers and our community.

Note: the above statistics are current through October 16, 2008 and change as additional
information is entered into the MLS database.

Please contact the following for follow-up information:
Mike Stanbrough, President 707-8400
Kurt Schade, 1st Vice President 208-0757
Joanne Mangold, 2nd Vice President 453-5413
Les Sulgrove, Treasurer 274-8565

								
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