2015 Des Moines Real Estate Market In Review
So Long 2015 and Welcome 2016!!
This months report reflects back on home sale activity from last year and where we are headed in 2016 now that we have 31 days under our belt.
2015 was a year to remember but it may also be a year to repeat. A shortage of homes for sale and buyers that were out in full force caused supply to drop as demand surged. Economics 101 teaches us that low supply and high demand drives prices upward. View the entire 2015 year end report by clicking the graphic above for a web magazine view. If you would like a PDF copy of this report instead, click here and it will be sent to you by email.
Additional highlights of 2015
- 9 Months of last year was spent in a Sellers Market
- 3 Months were in a Balanced Market
- There were 8% fewer homes for sale in 2015
- Pending Sales were up over 24% last year
- Closed transactions ended the year 20% higher that 2014
- New construction accounted for 30% of all homes for sale in 2015
- Bank owned inventory dropped back to our normal level of 3%
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.