Recently I wrote about two different markets in the Des Moines Area Association of Realtors market. It can be looked at another way as well. As of April 30th this year, there is a huge difference in your market depending on your price range. Let’s look at the numbers:
As of April 30th here are the inventory counts in several price ranges:
$0 to $100,000 – 207 houses for sale
$100,000 to $200,000 – 492 houses for sale
$200,000 to $300,000 – 914 houses for sale
$300,000 to $400,000 – 824 houses for sale
$400,000 to $500,000 – 351 houses for sale
The numbers jump dramatically from $200,000 to $400,000. This comes back to new construction flooding the market. The large majority of the new construction market that I wrote about is above $200,000. It is crazy to think there are 1.5 times as many houses for sale between $300,000 and $400,000 than houses for sale under $100,000.
So what does this mean to you?
If you are thinking about moving up, I have great news for you. Let’s say you are moving from a $150,000 house to a $300,000 house. Your $150,000 house has huge demand. 586 houses sold in the month of April from $100,000 to $200,000. More houses sold in that range than are currently on the market. Think about that! Then when you look at your new home you have almost twice as much inventory to look at. Life is good, and using me to position yourself correctly will mean you get maximum dollar for your house.
If you are selling in the $250,000 to $400,000 range you are in a tougher spot. You have a lot of competition, and much of your competition is new construction. Positioning yourself correctly from the start will help you out tremendously. There are pockets around the Multiple Listing Service where you could have tons of competition, and there are still spots where there is no competition. Using me to understand the market will help you tremendously.
If you are buying in the ranges of $250,000 and up, you have many pockets where you are in a buyer’s market. Using me as your realtor means you can take advantage of that and get the best deal possible.
If you or someone you know is looking to buy a home, sell a home, or invest in real estate, put me on the team! You can reach me at 515.639.0047 or RyanLynch@KW.com.
~Ryan Lynch
