2018 Ends Very Similar To 2017 In Some Ways – Not So Much In Others
lf you look strictly at the sale volume numbers, 2018 was a similar year to 2017. But as you will read below, many other areas were different. Keep in mind, my month end reports are a snapshot of the market on a specific date and there will be additional 2018 sales data come in during the first two to three weeks of January.
This will be the last time you will see this format for my monthly reporting! I am creating new graphics and for the first time in the past 10 years of producing my stats, I am breaking down the market by resale and new construction AND by single family residential and condo-townhome.
And lastly, for you stat junkies out there… I’ve created a new Facebook business page dedicated JUST to Des Moines market stats. Check it out at https://www.facebook.com/SimplyDesMoinesStats/
Monthly Market Snapshot as of December 31st
This is your last time seeing this graphic! I am retiring it and will be replacing with comprehensive breakdown graphic of New Construction and Resale. What you will notice in this last report is that I did go ahead and fix the New Construction Month of Inventory speedometer. Last month you will recall the speedometer dial was blacked out. When I created that graphic, it would only display up to 12 months of inventory.. as you can see, New Construction months of inventory is currently at 16.6 months! Overall year to date sales pushed through the 14,000 mark, ending on December 31st at 14,275. This number will continue to rise in January as real estate brokerages continue to turn in their 2018 sale data.
2018 Year Trend Reports
Active – Pending – Sold – Balance of the Market
Compared To 2017
As I mentioned earlier in this report, total closed sales ended the year very similar to 2017, but the biggest change was the increase in home for sale inventory all year long. Pendings were lower all year however that has been determined to be caused by mortgage lenders closing sales faster from offer to acceptance. Balance of the Market report was fairly close to 2017 with a September slowdown and a full slowdown in December.
Home Inventory and Pending Sales Compared Over Time
Ok, I’ll admit, this graphic was a bit hard to get your head around, but it did contain valuable information comparing one date in time to the same dates going back as far as 9 years ago. It is being replaced in 2019 with a better graph representing this data.
Months of Inventory
Buyer Pool and by Price Point
Look at all the RED! Red equals Buyers Market (more than 6 months of inventory) The only price points that continue to remain in a Sellers Market is the under $200,000 price point.
~Les Sulgrove, Vice President
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.