So Long 2018 – Happy New Year 2019!

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  

Monthly Market Snapshot as of December 31st

(Click Graphic To View Full Size)

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

(Click Graphic To View Full Size)

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

(Click Graphic To View Full Size)

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

(Click Graphic To View Full Size)

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

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.

Market Statistics, , , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *