Corporate Relocation Center 5403 Victoria Avenue, Suite 100 Davenport, IA 52807 RETURN SERVICE REQUESTED
Tough Winter Slows continued from page 7
segment to show an overall increase was Coralville-Tiffin, with a 12% increase, due to increased condo sales. Total new home inventory was exactly the same as last year, but displayed an 11% increase in houses and an 8% decrease in condos. The Iowa City market has a 21 month supply of new construction houses and condos combined. New home sales accounted for 1 in every 6 home sales in the area through March.
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QUAD CITIES: Combined ďŹ rst quarter sales were up 45% vs. ďŹ rst quarter 2018. House sales were up 32% and condos were up 89%. Higher sales resulted in inventory reductions of 20% in houses and 22% in condos, leaving the current supply of new homes at 4.5 months. Area sales accounted for 54% of all regional house sales above $400K and 46% of all condo sales above $300K. New home sales accounted for 1 in every 12 home sales through March.
Look for improved weather conditions and sustained demand to produce increased new starts. Also be on the watch for new builders on the regional scene introducing entry level products in several of our local markets to ďŹ ll the gap below $250K. Be aware that price increases for 2019 are predicted to match those of 2018. For any information on new home sales or housing starts, contact David Falk, Director of New Contruction and Development at 563-441-5220.
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For further information or to be added to our mailing list, contact Caroline Ruhl or Veronica Pianca â€˘ 563.355.7474 5403 Victoria Avenue, Suite 100 â€˘ Davenport, Iowa 52807-3925 â€˘ CarolineRuhl@RuhlHomes.com or VeronicaPianca@RuhlHomes.com 8 â€˘ RuhlHomes.com