Right now in the Des Moines and surrounding area real estate market there are some amazing trends that make it a great time to put your house on the market.
Number one, inventories are still incredibly low. As of this writing there are only 3085 houses for sale in the entire Des Moines Area Association of Realtors’ Multiple Listing Service. Houses going under contract are creeping up. Currently there are 1771 houses under contract. (Under contract means that the houses have found a buyer and they have an agreed upon price and closing date.) As of December 31st, 2017 that number was at 1,531 houses pending under contract. That is a whopping 15.6% jump in houses going under contract in just one and a half months!
Number two, the historically low inventory levels are pushing sales prices up for houses that are selling. According to CoreLogic’s Home Pricing Index, home prices rose 6.9% nationally from December 2016 to December 2017. That means that if you bought a home for $200,000 in December 2016, by December 2017 it would be worth $213,800.
Buyers are out and ready to go. Even with the harsh weather of the past couple of weeks we are seeing very motivated buyers looking for their next home.
What this means to you as a home seller is that you can get your house on the market now before you have more competition (housing inventory goes up) and while prices are continuing to go up at historically high speeds.
Call me today at 515.639.0047 or email me at RyanLynch@KW.com. I am very happy to run numbers and tell you what your home is worth for free and with no commitment to sell now. Call me today.
~Ryan Lynch
