The Central Iowa real estate market is diverse with both buyers and sellers alike seeking a variety of different properties. As a prospective seller, you can find out the market value of your property with a free home value report right here, or if you're looking to purchase in the Central Iowa click here for full MLS access. Always feel free to reach out to us for any questions regarding the current market conditions, or the value of your property at 515-229-9764.
As the year winds down and we head towards winter, we are asked all the time by clients if they should try to buy and sell real estate now, at the end of the year, or wait until next spring to do so. There is definitely a perceived seasonality in the Iowa market, but that doesn't necessarily mean it exists.
It's more important to look at supply and demand than the time of the year. This basic economic principle is used daily when discussing the market and its health.
When trying to determine what kind of market we are in, the main indicator as to where we lie is the amount of inventory. In a balanced market there is usually around 6 months of inventory, meaning that it would take 6 months to sell all available homes if no new homes came on the market. A buyer's market is when we have a surplus of inventory, over 6 months. A seller's market is when we have a lack of inventory for our buyers.
So far this year, we have seen all 3. At the beginning of the year it was definitely a buyer's market, then transitioned to a hot seller's market in the spring and summer. Right now, we are starting to see a bit of a slowdown, resulting in a more healthy, balanced market. This is very beneficial for those who want to buy and sell right now.
When timing your next real estate move, don't look so much into the calendar as much as when the move will work for you. That is the most important thing.
If you have any questions at all for us, please feel free to give us a call or send us an email. We would love to help out.
