Into The Final Stretch For Des Moines Real Estate

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

(Click Graphic To View Full Size)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

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.

About Les Sulgrove

Les is an Iowa native born in Des Moines and raised in the southwest Iowa town of Bridgewater. He has been a resident of Des Moines since 1982 and has been married to his wife Linda for over 35 years. Together they have 3 grown children, 7 grandchildren and make their home on Des Moines south side. He has been a licensed REALTOR® since 1990 and is Vice President at VIA Group, REALTORS®. Les is the 2011 Past President of the Des Moines Area Association of REALTORS® (DMAAR) and received the award of Salesperson of the Year by DMAAR in 2007 for his involvement and service to the Association. Additionally, he is active at the Iowa Association of REALTORS® and serves on local, state and national committees. He also owns and operates the national technology networking group CyberProfessionals. This group of real estate professionals meets twice annually across the United States to learn from each other and share new marketing ideas with heavy emphasis on current and future technologies and their use in the real estate business. Les’ hobbies include golf, photography and sarcastic humor. He and Linda spend many Saturday mornings from Spring to Fall at the Des Moines Downtown Farmers Market. He enjoys spoiling his grandchildren at every opportunity.

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