Posts from August 7th, 2016
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7
Home Sales Brisk and Prices Appreciating
Fueled by low interest rates, the first half of 2016 saw a 10% increase in sales volume and a 4% increase in average sales price. There were 5% more properties sold, and there were 12% fewer properties listed for sale. Check out some of our top performing markets: We like to compare this information to the top performers in the first half of 2015. This includes the Cedar Rapids Area, which had an increase of 21%, the Illinois Quad Cities, with an increase of 27%, and the Muscatine/Wilton Area, with an increase of 23%. 4-6 months of inventory is considered a balanced market, while 0-3 months is a seller's market, and 7 months or more is a buyer's market. Of course, this also varies by price range, with stronger demand generally in the lower price ranges and weaker demand in the upper price ranges. Results from all 12 of our market areas are shown below. Surprising Low Interest Rates Con...
