New Housing Starts
2013 Regional Real Estate Activity Chart Through June
Average 2013 Sales Price
% Change in Average Sales Price from 2012
$107,200 $174,100 $94,200 $183,400 $151,100 $159,300 $172,600 $107,100 $177,200 $207,100 $111,700 $124,300 $110,300 $86,400
+2% +10% -6% +12% +10% +1% -1% 0% +2% +7% +16% +1% -11% -18%
Burlington Area Cedar Rapids Area Clinton/Camanche/Fulton Des Moines Area DeWitt Dubuque Area Galena & Surrounding Area Illinois Quad Cities Iowa Quad Cities Iowa City Area Maquoketa/Preston/Bellevue Muscatine/Wilton Area Southwest Wisconsin Washington Area Blue Skies continued from page 1
10% more than the average sales price of $158,300 through June 2012. Residential Sales Volume: Sales volume increased 20%, from $274,729,400 in the first half of 2012 to $329,225,600 in the first half of 2013.
Clinton, Camanche & Fulton
Listing Inventory: There are 1% fewer properties listed for sale in the Clinton, Camanche and Fulton area; comparing 328 current listings to 325 properties for sale last year. Properties Sold: 19% fewer properties sold in the first half of 2013, a decrease from 234 sales in 2012 to 190 sales in 2013. Average Sales Price: The average sales price through June 2013 was $94,200, a 6% decrease from the average sales price of $100,000 through June 2012. Residential Sales Volume: Sales volume was down 24% through June 2013, from $23,406,000 in the first half of 2012 to $17,904,500 in the first half of 2013. This follows a 34% increase in sales volume from the first half of 2011 to the first half of 2012.
Des Moines & Surrounding Area
Listing Inventory: There are 3,552 properties for sale in Des Moines, Iowa and the surrounding area, 24% fewer than the same time last year when there was 4,662 properties for sale. Properties Sold: There was a 1% increase in the number of residential properties sold through June of 2013, 2 • RuhlHomes.com
2013 Number Sold
270 1,962 190 4,438 42 482 50 874 1,140 1,343 83 243 199 71
% Change in Number Sold from 2012
+8% +13% -19% +1% -33% +3% -15% +4% +16% +7% +51% +6% -8% +4%
$28,953,600 $329,225,600 $17,904,500 $813,921,400 $6,345,100 $76,778,700 $8,630,900 $93,575,200 $201,995,200 $278,095,000 $9,273,600 $30,539,900 $21,958,700 $6,133,100
comparing 4,410 properties sold in 2012 to 4,438 properties sold through the first half of this year. Average Sales Price: The average sales price was $183,400, 12% higher than the average sales price of $163,300 in the first half of 2012. Residential Sales Volume: Sales volume was up 13% through June 2013, an increase from $720,333,200 in the first half of 2012 to $813,921,400 in the first half of 2013. This follows a 27% increase in sales volume from the first half of 2011 to the first half of 2012.
DeWitt
Listing Inventory: DeWitt’s listing inventory is up 18%, from 40 properties listed for sale last year to 47 properties for sale currently. Properties Sold: 42 properties sold and closed during the first half of 2013, compared to 63 sales in the first half of 2012, a 33% decrease. Average Sales Price: The average sales price of homes sold through June 2013 was $151,100, 10% more than the first half of 2012 when the average sales price was $137,400. Residential Sales Volume: Sales volume in DeWitt decreased 27% in the first half of 2013, from $8,653,900 in 2012 to $6,345,100 in 2013.
Dubuque Area
Listing Inventory: There are 615 residential properties listed for sale in the Dubuque region. This is a 10% increase over 2012 when there were 558 properties for sale.
2013 Sales Volume
% Change in Sales Volume from 2012
+11% +20% -24% +13% -27% +4% -16% +4% +20% +14% +76% +8% -18% -14%
Active Listing Count 2013
229 1,936 328 3,552 47 615 407 893 743 1,322 100 224 438 100
New Construction continued from page 6
% Change in Active Listings from 2012
-19% -9% -1% -24% +18% +10% +4% -6% -20% -15% +3% -24% +2% -22%
Properties Sold: 3% more properties sold in the first half of 2013; an increase from 466 closings through June 2012 to 482 closings through June 2013. Average Sales Price: The average sales price of homes sold through June 2013 was $159,300, a 1% increase over the average sales price of $159,000 through June 2012. Residential Sales Volume: Sales volume for the first half of 2013 was $76,778,700, up 4% from the same period in 2012 when sales volume was $74,076,200.
Galena & Surrounding Area
Listing Inventory: There are 407 properties for sale in Galena, Illinois and the surrounding area, a 4% increase in the number of properties for sale at the same time last year when there were 391 listings. Properties Sold: There was a 15% decrease in the number of residential properties sold in the first half of 2013, comparing 59 sales in 2012 to 50 sales in 2013. This follows a 31% increase in sales from the first half of 2011 to the first half of 2012. Average Sales Price: The average sales price was $172,600 through June 2013, 1% lower than the $175,000 average sales price through June 2012. Residential Sales Volume: Sales volume was down 16% for the first half of 2013, a decrease from $10,323,600 through June 2012 to $8,630,900 through June 2013.
Blue Skies continued on page 3
Through June
2010 2008
2011
2012
2013
Burlington Area* Burlington West Burlington Cedar Rapids Area Cedar Rapids Marion Rural Linn County Hiawatha & Mechanicsville Areas Dubuque Area Dubuque East Dubuque Galena Jo Daviess County Peosta Surrounding Dubuque Area Illinois Quad Cities Moline & Coal Valley Rock Island East Moline & Hampton Colona Port Byron Geneseo Rural Rock Island County & Milan Silvis Whiteside County Iowa Quad Cities Davenport Bettendorf Rural Scott County Eldridge & Long Grove LeClaire & Princeton Blue Grass - city of Iowa City Area Iowa City Coralville North Liberty Rural Johnson County West Branch Williamsburg, Wellman & Kalona West Liberty Muscatine Area Muscatine Muscatine County Wilton Other Areas Clinton DeWitt Maquoketa, Preston & Bellevue Washington Area* Total Regional Starts
N/A N/A N/A 256 123 97 28 8 178 47 0 0 22 6 103 63 7 2 3 6 5 1 18 4 17 183 52 67 28 16 17 3 161 65 18 44 16 11 7 0 17 11 6 0 21 15 6 0 N/A 879
2 2 0 247 135 77 25 10 160 54 0 1 9 7 89 65 12 1 1 4 3 4 16 11 13 180 56 66 21 22 11 4 160 47 19 74 17 1 0 2 7 4 2 1 14 9 2 3 N/A 835
7 7 0 233 117 88 21 7 188 63 1 0 16 4 104 64 11 14 2 0 0 7 12 2 16 200 59 70 26 21 21 3 236 75 29 84 29 7 12 0 10 6 3 1 14 2 2 9 1 952
12 11 1 249 107 90 37 15 167 48 1 0 17 8 93 66 9 7 6 10 1 1 16 0 16 282 48 81 66 26 58 3 203 76 20 57 36 6 7 1 13 2 10 1 11 2 4 4 1 1,003
Des Moines Area**
N/A
N/A
881
1,049
% Change 2012 vs. 2013 +71% +57% +100% +7% -9% +2% +76% +114% -11% -24% 0% 0% +6% +100% -11% +3% -18% -50% +200% +1000% +100% -86% +33% -100% 0% +41% -19% +16% +154% +24% +176% 0% -14% +1% -31% -32% +24% -14% -42% +100% +30% -67% +233% 0% -21% 0% +100% -56% 0% +5% +19%
Source: Municipal offices. There may be additional new homes built which are not included with this data. *Burlington Area, Des Moines Area and Washington Area were recently added and little or no past data is available. **Des Moines Area is comprised of Adel, Altoona, Ankeny, Clive, Des Moines, Indianola, Johnston, Pleasant Hill, Polk City, Urbandale, Waukee, & West Des Moines.
about 47% in 2010 to 42% currently, but is up from about 39% a year ago. Ranch style houses continue to be a regional favorite, at about 75% of sales and 81% of available inventory. However, in the Quad Cities and Iowa City, ranch sales accounted for only 54% of sales and 58% of inventory. 493 new construction homes and condos sold in the region during the first half of 2013, 5% fewer than the 517 sales last year. As shown in the Regional New Construction Home Sales chart on page 6, the Iowa City area enjoyed the greatest number of sales – 204, followed by Cedar Rapids with 145 sales and the Iowa Quad Cities with 107 sales. There are 502 new homes in inventory, just 1% more than June 30 of last year. New housing starts by market are shown on page 7. CEDAR RAPIDS: Year-to-date sales are down 8%. House sales were down 3% while condo sales were down by 16%. The most improved price point for house sales was above $350K. A 7% increase in housing starts is hard to reconcile with a decline in sales and a 27% decrease in inventory, but investor activity is starting to generate some new building for rental vs. “for sale” across the region. DUBUQUE: Sales increased 31% over last year, based on a 38% climb in house sales. Sales remain sluggish for houses over $400K. Condo sales are still nearly non-existent as a 66-month supply of condos sits idle, with only 1 sale in 2013. Overall inventory is down 20%. House inventory is down 28%, while housing starts are down 11%. IOWA CITY: The entire area experienced a sales rebound in the second quarter. House sales in Iowa City had a 38% jump over last year. House sales in the Coralville-Tiffin, North Liberty and outlying segments were either unchanged or fell vs. 2012. While condo sales were down overall, all areas showed increases – with the exception of North Liberty, where condo sales fell 23%. Overall inventory levels were up 58%, with houses up 44% and condo inventory up 90% compared to the same time last year. A 14% decrease in new starts reflects builder reaction to the surge experienced last year. The Iowa City area continues to be the most productive for new construction sales, with just 5.5 existing house sales and 3.7 existing condo sales for every 1 new home sold. The area continues to lack home sales and inventory below $200K. QUAD CITIES: Sales are down
New Construction continued on page 8 RuhlHomes.com • 7