Unit sales were down in October in the metro area as compared to the year prior, following a trend established in July with the expiration of the Home Buyer Tax Credits, but prices seem to have found some stability. Data recently released by the Des Moines Area Association of REALTORS show that sales fell -44.6% in October 2010 as compared to October 2009 with 514 sales this year compared to 927 last year. Pending sales also fell 25% from the prior year data from the group showed, as the market winds down from the heady pace of 2009 and the first quarter of 2010 when the goverment offered tax credits to buyers in amounts from $6,500 to $8,000.
Des Moines had 5,648 active listings in October 2010, 216 fewer than in September but 239 more than October 2009. Days on market remained faily stable from the previous month, 109 in October vs. 108 in September, but up year on year from 101 in October 2009.
A bright spot in the data was that prices stabilized or were generally up in October, increasing in 60% of metro area markets from 2009, enough of a gain to bring the metro wide average to a postive .9% gain. Month on month however prices fell from an average of $168,764 in September 2010 to $158,327 in October 2010, a about a 6.8% decline.REALTOR Board members quoted in press articles cited stabilizations from tax credits, slow job growth, negative political ads and an uncertain economic picture as constraints on the market.
Personally I think prices need to move down a little more more to get people buying. Buyers seem to be hearing the media and pundits saying that affordable homes are really plentiful right now, yet when the buyers get out and tour they find that they are having a hard time finding the slamming bargains they've been reading about. The bargains are there in my opinion, but they just aren't universally distributed across every market class. Buyers need to be patient and determined in order to snag the good deals. Being preapproved and getting set up to receive new listings from an agent are really key to being on top of the market and poised for a buying opportunity when it comes.
| City | 10/2010 Total Sold |
10/2009 Total Sold |
Total Sold % Change |
2010 YTD Sold |
2009 YTD Sold |
YTD Sold % Change |
| ALTOONA | 13 | 18 | -27.8% | 188 | 185 | +1.6% |
| ANKENY | 58 | 109 | -46.8% | 814 | 897 | -9.3% |
| CLIVE | 18 | 13 | +38.5% | 184 | 177 | +4.0% |
| DES MOINES | 154 | 312 | -50.6% | 1,945 | 2,257 | -13.8% |
| INDIANOLA | 17 | 20 | -15.0% | 160 | 159 | +0.6% |
| JOHNSTON | 24 | 41 | -41.5% | 264 | 292 | -9.6% |
| PLEASANT HILL | 9 | 15 | -40.0% | 121 | 84 | +44.0% |
| URBANDALE | 36 | 49 | -26.5% | 483 | 481 | +0.4% |
| WAUKEE | 22 | 38 | -42.1% | 266 | 280 | -5.0% |
| WEST DES MOINES | 48 | 112 | -57.1% | 702 | 775 | -9.4% |
| TOTAL - DMAAR MLS (all cities) | 514 | 927 | -44.6% | 6,569 | 7,140 | -8.0% |
| City | 10/2010 Avg Sale Price |
10/2009 Avg Sale Price |
Avg Sale Price % Change |
10/2010 Median Sale Price |
10/2009 Median Sale Price |
Median Sale Price % Change |
| ALTOONA | 187,894 | 199,619 | -5.9% | 189,900 | 183,950 | +3.2% |
| ANKENY | 209,156 | 187,196 | +11.7% | 179,900 | 172,500 | +4.3% |
| CLIVE | 231,596 | 215,416 | +7.5% | 206,750 | 185,000 | +11.8% |
| DES MOINES | 98,766 | 118,133 | -16.4% | 86,750 | 110,500 | -21.5% |
| INDIANOLA | 152,103 | 136,142 | +11.7% | 163,345 | 126,750 | +28.9% |
| JOHNSTON | 247,406 | 204,060 | +21.2% | 198,700 | 174,000 | +14.2% |
| PLEASANT HILL | 193,000 | 156,477 | +23.3% | 186,000 | 157,900 | +17.8% |
| URBANDALE | 213,391 | 213,911 | -0.2% | 192,950 | 176,500 | +9.3% |
| WAUKEE | 197,442 | 207,080 | -4.7% | 183,000 | 199,390 | -8.2% |
| WEST DES MOINES | 202,377 | 178,943 | +13.1% | 183,500 | 165,150 | +11.1% |
| TOTAL - DMAAR MLS (all cities) | 158,327 | 156,942 | +0.9% | 148,450 | 139,250 | +6.6% |
| City | 10/2010 Days on Market |
10/2009 Days on Market |
Days on Market % Change |
| ALTOONA | 82.5 | 82.6 | -0.1% |
| ANKENY | 120.1 | 110.2 | +9.0% |
| CLIVE | 86.5 | 99.9 | -13.4% |
| DES MOINES | 96.8 | 87.3 | +10.9% |
| INDIANOLA | 144.4 | 67.1 | +115.2% |
| JOHNSTON | 119.9 | 79.6 | +50.6% |
| PLEASANT HILL | 118.8 | 105.1 | +13.0% |
| URBANDALE | 119.0 | 120.5 | -1.2% |
| WAUKEE | 114.6 | 75.3 | +52.2% |
| WEST DES MOINES | 98.6 | 87.8 | +12.3% |
| TOTAL - DMAAR MLS (all cities) | 109.0 | 101.0 | +7.9% |
Data courtesy of the Des Moines Area Association of REALTORS covering the period 10/01/10 to 10/31/10. All rights reserved.
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