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July 2014 Des Moines Market Snapshot

Que The Iowa State Fair!

 

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It’s official!  Summer is sliding away.  The Iowa State Fair is a week away and shortly after that, school will be back in session.  Home inventory has dropped to just over 4,000 homes for sale.  Pending transactions are behind last year by 200 sales. As a result, we are bubbling in and out of an Even Market with 4 Months of Inventory.

This month I am introducing a brand new chart.  It is called AVM Comparison Over Time.  AVM stands for Automated Valuation Model.  Corelogic produces an AVM.  An AVM is an automatically calculated analysis of a residential property using public record information and recent comparable home sale information.  The National Association of REALTORS produce an AVM that they call RVM, REALTORS Valuation Model.  The advantage of an RVM is that actual MLS Sales data is incorporated into the value.  Zillow and Trulia both produce their own versions of home values.

To see how the AVM by Corelogic, Zillow Zestimate and NAR RVM compare to an actual CMA, I have been charting these values since the middle of May.  I have used my own personal home as an example and update my CMA every 30 days.  The three other values adjust on their own schedule.  While the data set is still new with only 2 1/2 months of data tracked, I am already beginning to see a trend.  I have the most confidence in my CMA.  RPR’s RVM is closest in values to the CMA followed by Corelogic’s AVM and lastly the Zillow Zestimate.  I will continue to update this chart and it will become a part of my monthly reports.  Click on the report below to view the full size report.

July Des Moines AVM Comparison Graphic

Click The Graphic Images Below To Download Full PDF

July 2014 Balance of the Market Report

July 2014 Inventory Breakdown By Type

July 2014 Homes For Sale

July 2014 Pending Transaction Count

July 2014 Home Sales YTD

July 2014 New Construction Inventory

July 2014 Active, Pending, Sale Price Average

July 2014 Active Listings Vs Previous 5 Years

July 2014 YTD Price Point Avg Pricing

SimplyDesMoines.com is your local resource for real estate market conditions and statistics in the Des Moines and central Iowa area.
Les Sulgrove is a licensed REALTOR® with Keller Williams Greater Des Moines and has been licensed to sell real estate in Iowa since 1990. If you are looking to buy or sell your home, contact Les today!

 

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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