Facts & Trends Real Estate
Ruhl&Ruhl Realtors
Winter 2016
Local Real Estate is a Safe Investment
Jan Jaeger Realtor
Burlington Office 403 S. Gear Avenue Suite 105 West Burlington, IA 52655 (319) 759-8589 janjaeger@ruhlhomes.com janjaeger.ruhlhomes.com
IN THIS ISSUE: page 4 Ruhl&Ruhl Realtors Celebrates a Great 2015
page 4 Homes Prices Keep Appreciating
page 6 RuhlHomes.com - A New Site for the New Year!
page 7 Slight Dip in 2015 New Construction Sales & Inventory
Given the volatility of the stock market so far in 2016, investors would be smart to put their money in local real estate. Interest rates are still very attractive, inventories are good and the rental market is very strong. Our home prices are still affordable, and real estate continues to appreciate slowly but steadily in our markets (see page 4). REO’s (foreclosure properties) are especially good values and can be seen at RuhlHomes.com/Foreclosures. One of the investment strategies we encourage our clients to consider is to buy a home for each of their children or grandchildren as a gift when they are born. We suggest renting it out and FRQVLGHU Âż[LQJ LW XS ZLWK WKH FKLOGÂśV LQYROYHPHQW IRU WKH QH[W \HDUV :KHQ they are ready for college, they have a built-in college fund – either from the rental stream, home sale proceeds or UHÂżQDQFLQJ SURFHHGV RQ WKH KRPH 3OXV when they graduate and relocate back KRPH Âą WKH\ DOUHDG\ RZQ WKHLU ÂżUVW KRPH The main objection we hear from people interested in investing in real estate is: “I don’t want to deal with tenants, home maintenance and repairs.â€? Ruhl&Ruhl Realtors’ Property Management Department is happy to help, or your agent can suggest other management options.
Forecast for 2016
2015 was a great year! Nationally, the total volume of residential sales was the highest since 2006. 2016 will continue the upward trend, though not as strongly as it was in 2015. According to Lawrence Yun, Chief Economist for the National Association of 5($/7256Š ³H[LVWLQJ KRPH VDOHV DUH IRUHFDVWHG WR H[SDQG LQ DW D PRUH moderate pace as pent-up buyer demand combats affordability pressures and
meager economic growth.â€? “This year the housing market may only squeak out 1% to 3% growth in sales EHFDXVH RI VORZHU HFRQRPLF H[SDQVLRQ and rising mortgage rates.â€? &OHDU &DSLWDO +RPH 'DWD ,QGH[ SURMHFWV home price appreciation in the range of 1-3% by January 2017. As shown on page 4, in the past year, homes in our regional MSA’s appreciated: % Change in Metropolitan Statistical Areas Prices 1 Year Cedar Rapids, IA +1.45% Quad Cities, IA-IL +2.42% Dubuque, IA +1.33% Iowa City, IA +3.52% According to Clear Capital, homes in the low tier (selling below $116,000 nationwide) are forecasted to appreciate more than the KLJKHU WLHUV GXULQJ %\ GHÂżQLWLRQ WKH low tier is affordable to the widest range of potential homeowners and investors. This larger class of buyers will likely cause continued higher appreciation for the most affordable home tier. The Midwest is projected to be the fastest growing region in the country, with 2.5% annual appreciation in 2016. As always, this will vary by price range and neighborhood.
Ruhl&Ruhl Regional Forecast
Inventory levels are good and balanced between a buyer’s market and seller’s market (4-6 months of inventory) in most of our markets. The Iowa Quad Cities and Muscatine areas have the lowest months of inventory (see Activity Chart on page 2). Inventory is tight in some markets, mostly at entry level price points, but growing in our upper price brackets. :H H[SHFW WKH QXPEHU RI SURSHUWLHV VROG in 2016 to be up slightly and appreciation to continue in the 1% - 2.5% per year range, resulting in sales volume going up about 3.5%.
2015 Regional Real Estate Activity Through December
Average 2015 Sales Price
% Change in Average Sales Price from 2014
2015 Number Sold
% Change in Number Sold from 2014
2015 Sales Volume
% Change in Sales Volume from 2014
Active Listing Count 2015
% Change in Active Listings from 2014
Months of Inventory
Burlington Area $124,500 +17% 528 -10% $65,739,300 +6% 220 -19% 8.3 Cedar Rapids Area $173,400 +6% 4,566 +12% $791,838,700 +19% 1,501 -2% 6.7 Clinton/Camanche/Fulton $90,600 -14% 434 -11% $39,314,200 -24% 256 -22% 12.2 DeWitt $152,200 +1% 114 -3% $17,349,100 -1% 28 -33% 7.0 Dubuque Area $172,700 +1% 1,075 0% $185,612,500 +1% 382 +3% 6.9 Galena & Galena Territory $186,000 -1% 155 +12% $28,824,000 +11% 277 -18% 25.8 Galesburg Area $88,600 +4% 608 -4% $53,863,700 -1% 265 -9% 11.2 Illinois Quad Cities $119,100 +8% 2,145 +11% $255,410,300 +20% 781 -13% 7.8 Iowa Quad Cities $192,000 +3% 2,276 +2% $437,057,900 +5% 659 -6% 4.4 Iowa City Area $217,100 +4% 2,979 +7% $646,700,400 +11% 955 -4% 7.3 Maquoketa/Preston/Bellevue $134,000 +17% 136 -11% $18,229,300 +4% 109 +56% N/A Muscatine/Wilton Area $136,400 +9% 573 +15% $78,174,200 +24% 157 -26% 4.7 Washington Area $110,000 0% 176 +15% $19,355,600 +16% 80 +19% 8.4 Wisconsin (Southwest) $124,000 -4% 499 +3% $61,883,800 -1% 254 -24% 26.8 2015 Regional Total $166,000 +5% 16,264 +6% $2,699,353,000 +11% 5,924 -8% Several MLS mergers are causing some data to be suspect. The Washington MLS merged into the Iowa City MLS and data may be reflected in both markets. The Clinton MLS merged with the Quad Cities MLS. Maquoketa MLS members merged with either the Quad Cities MLS or the Dubuque MLS.
Summary of Regional Real Estate Activity Burlington Area
Listing Inventory: There are 220 homes and condominiums listed for sale in Burlington, Iowa and the surrounding area, a 19% decrease from the same time last year when there were 272 properties for sale. Properties Sold: 10% fewer residential properties sold year-to-date than the same time period last year, comparing 584 sales last year to 528 sales last year. Average Sales Price: The average sales price was $124,500, a 17% increase from the average sales price of $106,200 last year. Residential Sales Volume: Sales volume was up 6%, an increase from $62,000,500 in 2014 to $65,739,300 through December 2015.
Cedar Rapids Area
Listing Inventory: There are 1,501 residential properties listed for sale in the Cedar Rapids area, 2% fewer than the same time last year when there were 1,532 properties listed. Properties Sold: This year, there were 4,566 properties sold, 12% more than the 4,093 that sold in 2014. Average Sales Price: The average sales price was $173,400 through December 2015, 6% more than the average sales price of $163,100 in 2014.
Residential Sales Volume: Sales volume increased 19% from $667,610,200 through the fourth quarter of 2014 to $791,838,700 through the fourth quarter of 2015.
Clinton, Camanche & Fulton
Listing Inventory: There are 22% fewer properties listed for sale in Clinton, Camanche and Fulton; comparing 256 current listings to 330 properties for sale last year. Properties Sold: 11% fewer properties sold through 2015, a decrease from 489 sales in 2014 to 434 sales in 2015. Average Sales Price: The average sales price through December 2015 was $90,600, a 14% decrease from the average sales price of $105,500 in 2014. Residential Sales Volume: Sales volume was down 24% through December 2015, from $51,593,000 in 2014 to $39,314,200 in 2015.
DeWitt
Listing Inventory: DeWitt’s listing inventory is down 33% from 42 properties listed for sale last year to 28 properties currently on the market. Properties Sold: 114 properties sold and closed during 2015, a 3% decrease compared to 117 sales in 2014. Average Sales Price: The average sales price of homes sold through December 2015 was $152,200, 1%
more than 2014 when the average sales price was $150,500. Residential Sales Volume: Sales volume decrease 1% this year, from $17,607,100 in 2014 to $17,349,100 in 2015.
Dubuque Area
Listing Inventory: 3% more properties were for sale in December of 2015; an increase from 371 to 382. Properties Sold: There are 1,075 residential properties listed for sale in the Dubuque region; no significant change from the same time last year when there were 1,071 properties for sale. Average Sales Price: The average sales price of homes sold through December 2015 was $172,700, a 1% increase over the average sales price of $171,600 through December 2014. Residential Sales Volume: Sales volume for 2015 was $185,612,500, up 1% from 2014 when sales volume was $183,806,300.
Galena & Galena Territory
Listing Inventory: There are 277 properties for sale in Galena, Illinois and the Galena Territory; 18% fewer than the same time last year when there were 337 listings. Properties Sold: There was a 12% increase in the number of residential
Summary continued on page 3 2 • RuhlHomes.com
Summary continued from page 2
properties sold in 2015, comparing 138 sales in 2014 to 155 sales in 2015. Average Sales Price: The average sales price was $186,000 through December 2015, 1% less than last year when the average sales price was $188,600. Residential Sales Volume: Sales volume was up 11% for 2015, an increase from $26,021,600 in 2014 to $28,824,000 through December 2015.
Galesburg Area
Listing Inventory: There are 265 residential properties currently listed for sale in the Galesburg area. This is a 9% decrease from last year when there were 290. Properties Sold: Sales have decreased 4% from 636 properties sold in 2014 to 608 through December 2015. Average Sales Price: The average sales price was $88,600 through December 2015, 4% more than the average sales price of $85,500 in 2014. Residential Sales Volume: Sales volume decreased 1% in 2015, from $54,299,700 to $53,863,700.
Illinois Quad Cities
Listing Inventory: The number of properties for sale in the Illinois Quad Cities is down 13%; from 897 listings last year to 781 listings currently on the market. Properties Sold: Through the fourth quarter of 2015, 11% more properties sold, comparing 1,932 sales in 2014 to 2,145 sales through December 2015. Average Sales Price: The average sales price was up 8%, from $110,100 in 2014 to $119,100 through December 2015. Residential Sales Volume: Sales volume increased 20% through the fourth quarter of 2015, from $212,788,100 to $255,410,300.
Iowa Quad Cities
Listing Inventory: There are 659 homes and condominiums listed for sale in the Iowa Quad Cities, 6% fewer than the same time last year when
there were 703 properties for sale. Properties Sold: 2% more properties sold through the fourth quarter of 2015, an increase from 2,233 sales in 2014 to 2,276 sales this year. Average Sales Price: The average sales price increased 3%; from $186,600 in 2014 to $192,000 through December 2015. Residential Sales Volume: Sales volume went up 5% from $416,656,500 in 2014 to $437,057,900 in 2015.
Iowa City Area
Listing Inventory: The number of properties for sale in the Iowa City area is down 4%, which is a decrease from 996 in 2014 to 955 properties currently on the market. Properties Sold: 7% more properties sold during 2015, an increase from 2,782 sales in 2014 to 2,979 sales in 2015. Average Sales Price: The average sales price was $217,100; a 4% increase from 2014 when the average sales price was $208,700. Residential Sales Volume: Sales volume increased 11%, from $580,617,300 in 2014 to $646,700,400 through December 2015.
Maquoketa, Preston & Bellevue
This information is suspect due to the closing of the Maquoketa MLS. Listing Inventory: There are 109 properties for sale in Maquoketa, Preston, and Bellevue, 56% more than the same time last year when there were 70 properties listed for sale. Properties Sold: 11% fewer properties sold during 2015, a decrease from 152 sales in 2014 to 136 sales in 2015. Average Sales Price: The average sales price of homes sold through December 2015 was $134,000, 17% more than the average sales price of $115,000 in 2014. Residential Sales Volume: Sales volume increased 4%, from $17,482,200 in 2014 to $18,229,300 in 2015.
Muscatine & Wilton Area
Listing Inventory: There are 157
homes and condominiums listed for sale in the Muscatine and Wilton area, 26% fewer than the same time last year when there were 212 properties for sale. Properties Sold: 15% more residential properties sold in 2015, comparing 500 sales last year to 573 sales this year. Average Sales Price: The average sales price was $136,400, a 9% increase from the average sales price in 2014 of $125,600. Residential Sales Volume: Sales volume was up 24%, from $62,813,500 in 2014 to $78,174,200 through December 2015.
Washington Area
Listing Inventory: There are 80 properties for sale in Washington, Iowa and the surrounding area, a 19% increase from the same time last year when there were 67 properties for sale. Properties Sold: Through 2015, 15% more properties sold, comparing 153 sales in 2014 to 176 sales through December 2015. Average Sales Price: The average sales price was $110,000, which is comparable to the average sales price of $109,500 in 2014. Residential Sales Volume: Sales volume was up 16%, an increase from $16,751,700 in 2014 to $19,355,600 through December 2015.
Wisconsin (Southwest)
Listing Inventory: There are 254 properties for sale in the southwest Wisconsin region, a 24% decrease compared to the same time last year when there were 333 listings. Properties Sold: There were 499 properties sold this year, which is 3% more than the 485 properties that sold in 2014. Average Sales Price: The average sales price was $124,000 in 2015, 4% lower than in 2014 when the average sales price was $129,500. Residential Sales Volume: Sales volume was down 1%, a decrease from $62,814,200 in 2014 to $61,883,800 through December 2015.
Quad Cities MLS Statistics - Iowa & Illinois Combined Through December Current MLS Listings Average Sales Price Total Sales Volume Total # of Sales YTD
2011
2012
2013
2014
2015
1,788 $137,600 $480,686,900 3,493
1,535 $147,100 $586,213,100 3,984
1,566 $146,900 $627,893,900 4,274
1,600 $151,100 $629,444,600 4,165
1,440 $156,600 $692,468,200 4,421
% Change 2014 vs. 2015 -10.0% +3.6% +10.0% +6.1%
RuhlHomes.com • 3
Ruhl&Ruhl Realtors Celebrates a Great 2015 Ruhl&Ruhl Realtors looks back at 2015. 1. Number of Properties Sold: Ruhl&Ruhl Realtors sold 5,226 properties in 2015, as either listing agent or selling agent. This was 1% more transactions than in 2014. 2. Residential Sales Volume: Ruhl’s sales volume in 2015 was $838,830,591, up 4.2% from 2014’s sales volume of $805,159,937. 3. Revenue: Revenue in a real estate company is primarily gross commission income (GCI). Ruhl’s 2015 GCI was $24,679,178, or 3.6% up from 2014 revenue. 4. Nationally Ranked Per Agent Productivity: On average our agents closed 18.3 transactions in 2015. This is the highest per agent productivity in the region and more than double the national average of 7 transactions per agent per year. 5. Great Agents and Staff: We ended 2015 with 286 residential agents. In addition, 61 employees work for the
Reg
company equating to 54 full-time staff. 6. Ruhl Mortgage: Ruhl Mortgage closed $139,663,172 in loan volume, which was generated by 863 loans. 83% were purchase loans and 17% were refinances. 26.1% of Ruhl&Ruhl Realtors’ buyers with financing worked with Ruhl Mortgage. 19.4% of Ruhl buyers paid cash. 7. New Construction Sales Volume: Ruhl&Ruhl agents sold 267 new construction homes or condos in 2015. The average sales price was $359,788, up from $343,597, resulting in sales volume of $96,063,358. 8. Insurance Referrals Sold: Ruhl agents referred clients resulting in 398 policies being sold by the Nelson Brothers Agency, Ruhl&Ruhl Realtors’ affiliated insurance company. 9. Commercial Sales Volume: NAI Ruhl Commercial Company, a joint venture with Ruhl&Ruhl Realtors, sold $124,267,174 in commercial real estate in 2015 and had a 53% market share.
Through December Burlington Area (Burlington Board of Realtors)
Cedar Rapids Area (Cedar Rapids Area Assoc. of R Southeast Cedar Rapids Northeast Cedar Rapids Southwest Cedar Rapids Northwest Cedar Rapids Hiawatha & Robins Marion
East of I-380: Mechanicsville, Anamosa, Mt. Vernon, L West of I-380: Walford, Fairfax, Atkins, etc. Corridor Area: Solon, Ely, Swisher Condominiums
Clinton, Camanche & Fulton (Quad City Area Realto DeWitt (Quad City Area Realtor Assoc.) Dubuque Area (Dubuque Board of Realtors) Dubuque North, South and West Dubuque Illinois Wisconsin
Galena & Galena Territory (Realtor Assoc. of North
Galesburg Area (W. Central IL Association of Realto
Illinois Quad Cities (Quad City Area Realtor Assoc. Rock Island Milan & Rural Rock Island County Moline Coal Valley, Rural Moline, Miscellaneous
Homes Prices Keep Appreciating The eastern Iowa and northwestern Illinois region continues its steady climb in home price appreciation – with most of our markets showing positive gain. This is the 17th consecutive quarterly appreciation nationally. The expected slowdown in appreciation this quarter didn’t occur, but this could lead to more of a challenge of affordability of housing moving forward, according to the Federal Housing Finance Agency (FHFA) Principal Economist Andrew Leventis. In the past year, home prices are up: 1.33% in Dubuque; 3.52% in Iowa City; 2.42% in the Quad Cities and 1.45% in Cedar Rapids. This compares to other cities: Des Moines up 4.62% and Metropolitan Statistical Areas (MSAs)
Cedar Rapids, IA Davenport-MolineRock Island, IA-IL Des MoinesWest Des Moines, IA Dubuque, IA Iowa City, IA USA
Chicago, IL up 3.71%. Nationally, home prices have increased 5.70% in the last year. Eastern Iowa and western Illinois’ gains have not been as high; however, our region also didn’t experience the extreme lows of the rest of the country. “With home appreciation percentages continuing to grow and interest rates projected to increase,” said Caroline Ruhl, president of Ruhl&Ruhl Realtors, “this is the best time to buy to ensure that you are putting yourself in the best position to purchase your dream home. If you have considered buying, or are just starting the process of searching for a home, please contact a Realtor.”
Percent Change in House Prices 1 Year 5 Year
2015 3rd Quarter National Ranking of 271 MSAs*
Port Byron, Upper Rock Island County Mercer County Henry County Condominiums Iowa Quad Cities (Quad City Area Realtor Assoc.) Davenport Bettendorf & Riverdale Blue Grass, Buffalo, Durant & Walcott LeClaire, Pleasant Valley & Princeton North Scott County Miscellaneous Condominiums Iowa City Area (Iowa City Area Assoc. of Realtors) Iowa City Coralville Northwest Iowa City Northeast Iowa City Southeast Iowa City Southwest Iowa City Corridor Area Miscellaneous
+1.45%
+3.10%
246
+2.42%
+6.79%
221
Maquoketa, Preston & Bellevue (Dubuque MLS & Q
+4.62%
+8.85%
130
Muscatine
+1.33% +3.52% +5.70%
+8.89% +9.14% +19.91%
250 180
Muscatine Outlying
Information courtesy of Federal Housing Finance Agency (FHFA) for third quarter 2015. FHFA stats always run one quarter behind. Their full report is accessible at www.fhfa.gov. *Rankings based on annual percentage change in house prices.
4 • RuhlHomes.com
East Moline & Silvis
Condominiums
Muscatine & Wilton Area (Muscatine Board of Real Wilton Condominiums
Washington Area (Iowa City Area Assoc. of Realtor Wisconsin - Grant & Lafayette Co. (S. Central Wisc
This representation is based in part on data supplied by the REALTOR Associations or Several MLS mergers are causing some data to be suspect. The Washington MLS me
gional Residential Real Estate Activity Current MLS Listings
Realtors)
Lisbon, etc.
or Assoc.)
hwest IL)
% of Active Listings
2015 Avg. Sales Price
2015 Sales Volume
2015 # Sold
% of Unit Sales
Sales/ List
2014 # Sold
2014 Avg. Sales Price
2014 Sales Volume
220
$124,500
$65,739,300
528
94%
584
$106,200
$62,000,500
1,501
$173,400
$791,838,700
4,566
98%
4,093
$163,100
$667,610,200
121
8%
168,900
65,701,000
389
9%
97%
348
155,700
54,192,500
189
12%
175,100
115,039,100
657
14%
98%
595
161,900
96,332,600
113
8%
146,900
64,199,000
437
10%
98%
421
139,500
58,745,800
113
8%
146,900
53,458,100
364
8%
98%
328
142,200
46,647,900
23
2%
254,800
23,189,800
91
2%
98%
92
240,300
22,108,700
155
10%
212,600
116,071,300
546
12%
99%
490
203,200
99,589,500
181
12%
161,500
74,759,400
463
10%
95%
382
143,100
54,674,600
175
12%
147,900
61,985,900
419
9%
96%
341
139,100
47,432,200
95
6%
288,400
80,172,700
278
6%
98%
235
270,500
63,577,000
336
22%
148,900
137,262,400
922
20%
100%
861
144,400
124,309,300
256
$90,600
$39,314,200
434
90%
489
$105,500
$51,593,000
28
$152,200
$17,349,100
114
94%
117
$150,500
$17,607,100
382
$172,700
$185,612,500
1,075
94%
1,071
$171,600
$183,806,300
248
65%
176,800
147,080,200
832
77%
95%
830
176,000
146,036,200
93
24%
159,900
29,096,300
182
17%
93%
170
156,100
26,538,600
30
8%
156,000
6,863,300
44
4%
92%
46
154,700
7,118,100
11
3%
151,300
2,572,700
17
2%
92%
25
164,500
4,113,400
$186,000
$28,824,000
155
88%
138
$188,600
$26,021,600
277
ors)
265
$88,600
$53,863,700
608
93%
636
$85,500
$54,299,700
.)
781
$119,100
$255,410,300
2,145
96%
1,932
$110,100
$212,788,100
169
22%
95,500
33,512,700
351
16%
96%
319
88,200
28,131,100
38
5%
139,000
23,764,600
171
8%
97%
152
129,300
19,657,000
150
19%
112,000
57,704,000
515
24%
96%
436
104,200
45,416,100
55
7%
151,700
19,568,300
129
6%
97%
71
133,200
9,457,500
88
11%
102,800
26,309,600
256
12%
96%
281
99,800
28,043,600
38
5%
185,000
17,762,900
96
4%
97%
72
188,400
13,561,900
55
7%
105,400
13,391,700
127
6%
95%
128
102,400
13,110,900
122
16%
123,900
49,180,100
397
19%
96%
373
113,700
42,407,400
66
8%
5%
96%
100
130,000
13,002,600
98%
2,233
$186,600
$416,656,500
659
103 2,276
52%
147,100
165,039,100
1,122
49%
97%
1,131
138,700
156,903,500
130
20%
304,500
159,267,700
523
23%
99%
497
305,000
151,560,900
25
4%
167,500
17,424,800
104
5%
97%
84
174,900
14,690,500
38
6%
237,300
28,478,700
120
5%
97%
118
232,300
27,415,000
34
5%
226,100
23,291,000
103
5%
98%
101
222,100
22,429,000
11
1%
104,600
5,645,800
54
2%
95%
67
100,500
6,732,700
77
12%
151,600
37,910,800
250
11%
98%
235
157,100
36,924,900
955
$217,100
$646,700,400
2,979
98%
2,782
$208,700
$580,617,300
185
19%
263,900
194,222,100
736
25%
98%
673
254,700
171,394,500
57
6%
303,800
55,890,600
184
6%
97%
192
302,600
58,102,000
115
12%
295,200
93,861,600
318
11%
98%
288
275,200
79,271,000
29
3%
159,000
9,381,500
59
2%
95%
77
156,200
12,029,200
32
3%
150,600
8,736,400
58
2%
96%
58
152,800
8,861,600
52
6%
165,500
28,801,700
174
6%
96%
158
162,800
25,722,200 26,371,600
40
4%
280,400
29,164,900
104
3%
97%
89
296,300
128
14%
179,300
78,179,100
436
15%
98%
361
148,800
53,703,100
317
33%
163,100
148,462,500
910
30%
99%
886
163,800
145,162,100
$134,000
$18,229,300
136
N/A
152
$115,000
$17,482,200
109
ltors)
157
consin)
14,216,400 $437,057,900
344
QCARA)
rs)
138,000 $192,000
$136,400
$78,174,200
573
96%
500
$125,600
$62,813,500
85
54%
137,100
52,791,100
385
67%
96%
335
127,400
42,679,100
12
8%
155,100
5,582,100
36
6%
96%
27
143,000
3,860,000
52
33%
126,400
16,554,200
131
23%
95%
112
117,000
13,104,900
8
5%
4%
154,600
3,246,800
21
101%
26
121,900
3,169,500
80
$110,000
$19,355,600
176
92%
153
$109,500
$16,751,700
254
$124,000
$61,883,800
499
89%
485
$129,500
$62,814,200
r their Multiple ListÂing Services. Neither the Boards nor their MLS guarantee or is in any way responsible for its accuracy. Data maintained by the Boards or their MLS may not reflect all real estate activity in the market. erged into the Iowa City MLS & data may be reflected in both markets. The Clinton MLS merged with the Quad Cities MLS. Maquoketa MLS members merged with either the Quad Cities MLS or Dubuque MLS.
RuhlHomes.com • 5
Regional New Construction Home Sales Through December Cedar Rapids Area Houses Condos/Villas Dubuque Area Houses Condos/Villas Illinois Quad Cities (Rock Island County) Houses Condos/Villas Iowa Quad Cities (Scott County) Houses Condos/Villas Iowa City Area Houses Condos/Villas Total Regional Combined
Active Inventory 12/31/13
Active Inventory 12/31/14
Active Inventory 12/31/15
% Change in Inventory from 2014
Sales 2013
Sales 2014
Sales 2015
% Change in Sales from 2014
162 102 60 37 31 6 14 3 11 112 65 47 159 105 54 484
174 105 69 49 32 17 5 2 3 119 76 43 212 100 112 559
148 94 54 40 35 5 5 1 4 79 56 23 229 102 127 501
-15% -10% -22% -18% +9% -71% 0% -50% +33% -34% -26% -47% +8% +2% +13% -10%
342 223 119 68 66 2 9 7 2 255 197 58 443 247 196 1,117
337 192 145 92 79 13 9 6 3 237 187 50 406 237 169 1,081
345 205 140 71 60 11 8 6 2 238 174 64 379 236 143 1,041
+2% +7% -3% -23% -24% -15% -11% 0% -33% 0% -7% +28% -7% 0% -15% -4%
RuhlHomes.com – A New Site for the New Year!
RuhlHomes.com has an updated site designed to make your real estate journey easier. You can now access RuhlHomes.com anytime, anywhere with the same experience on your mobile, tablet, laptop and desktop computer. You can also learn more about the process of buying and selling a home by clicking the buy or sell menu items. Here are some other updates that you’ll notice: Find out what the houses actually sold for in your neighborhood. You no longer have to estimate what homes sold for in your neighborhood. You can get a real look at what they sold for by selecting the “sold” button on the top of the search bar. Easily search and refine your 6 • RuhlHomes.com
results. Find all current active listings by using the blue search bar where you can search by city, address or area. Also, when you hit the results page, you can click “More Filters” and search by school district or lifestyle (e.g., properties near golf courses, parks and trails, etc.). Draw a custom area on the map search or start your search with your current location. Take your home search into your hands by drawing a custom shape around the area where you would like to search or select your cu rrent location. Discover and compare local communities in our region. Look on the homepage of
RuhlHomes.com to discover what is happening in the real estate market in each of our regions by visiting the “Discover Our Communities” section. Get relevant, accurate real estate information delivered to your inbox without having to log in. Click on “Get New Listings First” on the RuhlHomes.com homepage to get an email once a new home comes on the market that meets your criteria. You can also click on “Get Neighborhood Market Activity” to find out information about properties that have sold or pended in your neighborhood. Questions? Contact your Ruhl&Ruhl Realtor or email us at marketing@ruhlhomes.com.
New Housing Starts Through December
2012 2008
2013
2014
2015
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
18 17 1 489 251 164 58 16 363 139 2 0 43 8 171 125 18 25 5 9 1 9 25 2 31 498 128 145 93 41 83 8 472 146 63 171 65 9 18 0 32 14 16 2 37 7 9 16 5 2,034
36 32 4 514 228 188 72 26 358 107 2 1 37 19 192 134 14 12 7 24 2 2 34 8 31 711 114 169 199 51 174 4 411 174 52 93 70 8 13 1 33 4 26 3 30 4 6 15 5 2,227
23 16 7 532 321 140 51 20 296 80 7 2 27 18 162 118 20 22 1 7 1 11 41 2 13 366 71 163 61 26 34 11 442 177 30 175 49 3 8 0 37 12 18 7 52 12 14 18 8 1,866
41 27 14 611 293 190 104 24 256 76 1 5 25 10 139 89 15 12 0 5 3 10 23 3 18 372 76 158 59 34 34 11 384 138 20 136 72 4 10 4 37 12 21 4 36 9 13 12 2 1,826
Des Moines Area*
1,872
2,367
2,205
2,266
% Change 2014 vs. 2015 +78% +69% +100% +15% -9% +36% +104% +20% -14% -5% -86% +150% -7% -44% -14% -25% -25% -45% -100% -29% +200% -9% -44% +50% +38% +2% +7% -3% -3% +31% 0% 0% -13% -22% -33% -22% +47% +33% +25% +400% 0% 0% +17% -43% -31% -25% -7% -33% -75% -2% +3%
Source: Municipal offices. There may be additional new homes built which are not included with this data. *Des Moines Area is comprised of Adel, Altoona, Ankeny, Clive, Des Moines, Indianola, Johnston, Pleasant Hill, Polk City, Urbandale, Waukee, & West Des Moines.
Slight Dip in 2015 New Construction Sales & Inventory In 2015, 1,041 new homes were sold across the region, 40 fewer than in 2014. This represents a 4% decrease in unit sales. House sales dropped by 3% while 5% fewer condos were sold. Inventory of new homes was 10% less than at the end of 2014. As always, each market showed considerable variation in new home sales. For more details, please see charts on pages 6 and 7. Houses continued to represent 65% of new sales with condos at 35%. Across the region, new home sales accounted for about 1 in 10 home purchases, as opposed to 1 in 7 during the early and mid 2000s. 72% of new home sales across the region were ranch style, while 21% were 2-stories. Split foyer and split level houses showed increased popularity, as builders and buyers look to economically create needed square footage in the face of increasing construction costs. The chart below reflects an upward trend in costs/prices for both houses and condos. This trend also reflects the diminished availability of development land to support affordable new housing. Houses: Condos: Below $300K = 40% Below $200K = 53% $300-$400K = 35% $200-$300K = 37% Above $400K = 25% Above $300K = 10% Following is a brief summary of activity: CEDAR RAPIDS: With house sales up 7% and a 3% drop in condo sales, this market, up 2%, showed the only regional sales gain. Largest gains were in houses above $350K and condos above $150K. Overall inventory is down 15%, with houses down 10% and condos down 22%. Ranch sales were 88% of new house sales. New home sales in this market accounted for 1 in every 9 home sales. DUBUQUE: Following a terrific 2014, Dubuque saw sales drop by 23% in 2015. A 24% decrease in new house sales was the main reason, as house sales of $175-225K fell 59% and those above $300K dropped by 56% vs. 2014. Overall unit inventory is down 18%, with houses up 9% and condos down 71%, as compared to the end of 2014. New home sales accounted for 1 in every 17 sales in 2015, as compared with 1 in every 12.5 sales in 2014. IOWA CITY: A 7% decrease in overall sales was created by a 15% fall in condo New Construction continued on page 8 RuhlHomes.com • 7
Corporate Relocation Center 5403 Victoria Avenue, Suite 100 Davenport, IA 52807 RETURN SERVICE REQUESTED
New Construction continued from page 7
sales, as house sales in this market remained stable. Area-wide, house sales above $350K showed strong gains as large drops in condo sales in Iowa City and North Liberty accounted for the bulk of the overall market decrease. Overall unit inventory is up 8%, fueled primarily E\ D LQFUHDVH LQ 7LIÂżQ DV QHZ development has focused there. Even with two consecutive years of falling
sales, the Iowa City market remains our strongest regional new homes market, with 1 in every 6.5 home sales. QUAD CITIES: Sales results were unchanged, with a 25% increase in condo sales offsetting a 7% decrease in house sales. Sales of condos below $225K were up 65%. With stable sales and overall unit inventory down 32%, this market enjoys the region’s best absorption rates at 3.7 months for houses and 3.9 months for
The
condos. Absorption rates indicate how long current inventory should take to sell based upon the most recent period’s sales results. In 2015, new homes in the QCA accounted for 1 in every 15.5 home sales. We don’t anticipate sharp increases in EXLOGLQJ FRVWV LQ EXW ZLWK D ¿QLWH supply of prime building sites available, the higher costs of future development, and the potential for higher interest rates, 2016 is a great time to build or buy a new home.
way to a new
career .
Let your efforts, skills and desires control your earning potential with a career in real estate! Jan Jaeger Realtor
Burlington Office 403 S. Gear Avenue Suite 105 West Burlington, IA 52655 (319) 759-8589 janjaeger@ruhlhomes.com janjaeger.ruhlhomes.com
Think about setting your own hours, determining your pay and starting a business.
With its exible and rewarding environment, a career in real estate could be for you!
Enjoy the comfort of a stable, successful company supporting you every step of the way.
Find out if a career in real estate is for you at JoinTheRuhlTeam.com.
Find more information at RuhlHomes.com/Careers. Follow Us Online At:
For further information or to be added to our mailing list, contact Caroline Ruhl or Veronica Pianca • 563.355.7474 5403 Victoria Avenue, Suite 100 • Davenport, Iowa 52807-3925 • CarolineRuhl@RuhlHomes.com or VeronicaPianca@RuhlHomes.com 8 • RuhlHomes.com
The way. Congratulations 2015 Award Winners TOP AWARD WINNERS
2015
Ruhl&Ruhl Realtors is proud to congratulate our 2015 company award winners. Thank you to all our clients for your business. And thank you to our associates and staff for your hard work and wonderful service.
Kurt Johnson
Top Associate of the Year
Masters Club Bettendorf Office ~ 563.343.0675 KurtJohnson@RuhlHomes.com
Lacey Welsh Top New Associate of the Year
Silver Club Davenport Office ~ 563.210.0658 LaceyWelsh@RuhlHomes.com
Nelson-Woods Real Estate Team Top Team of the Year
Masters Club • Bettendorf Office DN: 563.650.0156 ~ LW: 563.508.4676 Nelson-WoodsRealEstateTeam@RuhlHomes.com
Ray McDevitt
Top Ruhl Mortgage Associate of the Year Triple Diamond Club Bettendorf Office ~ 563.441.5228 RayMcDevitt@RuhlHomes.com
Ken Paper
Janet Munck
Top Associate of the Year - Farm Division
Extraordinary Production Award
Sean Eckhardt
Tim Sampiller
Double Diamond Club Davenport Office ~ 563.441.5161 KenPaper@RuhlLand.com
Top Community Involvement of the Year Diamond Club Davenport Office ~ 563.441.5255 SeanEckhardt@RuhlHomes.com
Masters Club Clinton Office ~ 563.243.0627 Muncks’@RuhlHomes.com
Employee of the Year
Brand & Marketing Specialist Corporate Office ~ 563.441.5108 TimSampiller@RuhlHomes.com
Our Clients Come First!
Harry Blewett
Top Excellence in Service Award
Platinum Club Dubuque Office ~ 563.542.1904 HarryBlewett@RuhlHomes.com
“We are committed to providing our clients their best real estate experience ever. Our agents and staff are passionate about great customer service. The Ruhl&Ruhl Difference is found in the compassion, expertise and commitment of our people.”
RuhlHomes.com/News
Achievem
2015 Masters Club Aaron Healey
Kurt Johnson
Janet Munck
Sharon Tahere
Top Associate Extraordinary Production Top Lister; Top Sales; Top Sales Award; Top Lister; of the Year; Top Ruhl Mortgage & Bettendorf Office Lister; Excellence Top Sales; Top Referral AHS Award Associate; Ruhl Mortgage & in Service Dubuque Office Bettendorf Office AHS Award • Clinton Office
Nelson-Woods Real Estate Team
Triple Diamond Club
Ryan Anglese Dubuque Office
Top Team of the Year Bettendorf Office
Jane Bauman AHS Award Bettendorf Office
Sara Carlson
Top Lister; Top Sales; AHS Award Muscatine Office
Diamond Club Joe Lindsay
Bettendorf Office
Tim Martin
Bettendorf Office
Jill Monnahan Marna Nowack
Top Sales; Bettendorf Office Excellence in Service; AHS Award Cedar Rapids Office
Ken Paper
Top Associate of the Year - Farm Division Davenport Office
Brent Scogland Gary Williams Bettendorf Office
Kim Broders
Top Sales: Excellence in Service; Nelson Brothers Award; Ruhl Mortgage & AHS Award • DeWitt Office
Moline Office
Callie Brown
Dubuque Office
Platinum Club Greg Rediger
Nancy McElhiney
Bettendorf Office
Wendi Ingram
Darcy Jacks
Bettendorf Office
Excellence in Service Muscatine Office
Excellence in Service Moline Office
Kyle Robinson Candy Shamsie Top Sales Davenport Office
Bob Kelly AHS Award Moline Office
Dennis Stolk
Jeff Wehr
Nelson Brothers Award Moline Office
Davenport Office
Bettendorf Office
Sally Kent
LuAnn Lavine
Alicia Lillyblade
Bettendorf Office
Moline Office
Davenport Office
Pam Wendt Moline Office
Lisa Maller
Debbie White
Jared Althoff
Moline Office
Dubuque Office
Tiffany Mangler Mike McManus
Nelson Brothers Top Lister; Top Sales; Top Referral Excellence in Service; Award Associate Ruhl Mortgage & Bettendorf Office Davenport Office AHS Award Maquoketa Office
Kathy Meyer Moline Office
Gold Club Ron Whan
Kim Wilkins
Bettendorf Office
Davenport Office
Melissa Korte
Peg Kreutner
Bettendorf Office
Paul Ellis
Iowa City Office
Cedar Rapids Office
Barb Falk
Bettendorf Office
Tammy Williams
Rick Berg
Moline Office
Bettendorf Office
Ray Lind
Moline Office
Julie Flater
Dubuque Office
Kate Lockett
Lisa Lynes
Bettendorf Office
Iowa City Office
Ann Gavin
Sky Huston
Cedar Rapids Office
Moline Office
Gary Bettenhausen
Bettendorf Office
Iowa City Office
Shirley Masterson
Jolean Overton-Austin
Bettendorf Office
Jan Jaeger
Connie Kassewitz
Bettendorf Office
Ruhl Mortgage Award Moline Office
Ruhl Mortgage Award Burlington Office
Moira Brown
Davenport Office
Bettendorf Office
Jim Cannon
Tracy Rogers
Barb Cartwright
Moline Office
Debbie Sellers Moline Office
Lyndsay Krings Brian Krueger Ruhl Mortgage Award Muscatine Office
Iowa City Office
Merlin Conrad AHS Award DeWitt Office
Mike Tanner
Bettendorf Office
Jerry Lancaster
Moline Office
ment Clubs Connie Coster Bettendorf Office
Lesa Buck
Top Lister Davenport Office
Nancy Billups
Jon Loquist
Ray McDevitt
Top Lister Moline Office
Top Ruhl Mortgage Associate of the Year Bettendorf Office
Morse Burington
Marybeth Chupka
Nelson Brothers Award Muscatine Office
Jim Blaine
2015 Double Diamond Club
Top Lister; Nelson Brothers & Ruhl Mortgage Award Cedar Rapids Office
Sean Eckhardt
Top Community Bettendorf Office Involvement of the Year; Excellence in Service; Ruhl Mortgage & AHS Award • Davenport Office
Harry Blewett
Jim Farber
Bettendorf Office
Holly Lovell
Dubuque Office
Bettendorf Office
Otto Nobis
Sheri & Greg Paper
Cassandra Ryan
Barbara Scott
Marc Simpson
Pete Stopulos-
Heather Hawkinson
LaTisha Howlett
Beth RobertsonJackson
Top Referral Associate Dubuque Office
Nelson Brothers Award Davenport Office
Bettendorf Office
Davenport Office
Kathy Carpenter
Sabrina Chandler
Shan Corelis
Wendy Corzatt
Marie Schulte
Gina Rowland / Kate Franzen Bettendorf Office
Davenport Office
Bettendorf Office
Jodi Furnald
Stan Goodyear
Burlington Office
Davenport Office
Steve Hart
Jane Mason
Top Lister; Top Referral Associate DeWitt Office
Property Management
Davenport Office
Mary Dircks
Top Referral Associate Muscatine Office
Top Referral Associate Cedar Rapids Office
Angie Fullmer
Craig Newcomb
Bettendorf Office
Kathy Louvar
Top Lister; Top Sales Washington Office
Karl Dolter
Mark Miller
Jeff Dellitt
Granberg/ Streeter Team
The Home Team Peg Hopkins Bettendorf Office Advantage
Dubuque Office
Kelley Myers
Moline Office
Bettendorf Office
Moline Office
Bettendorf Office
Top Lister; AHS Award Iowa City Office
Tina DeMay
Stephanie Graham
Scott Egger
Top Sales Moline Office
Davenport Office
Top Excellence in Service Award Dubuque Office
Bettendorf Office
Top Referral Associate Moline Office
Penny Egert
Shueree Boley
Nelson Brothers Award Dubuque Office
Top Sales; Excellence in Service Burlington Office
Paula Firth
Dan Dolan
Davenport Office
Emilie Blindt
Bettendorf Office
Iowa City Office
Alan BrocketteBeth Brockette
Top Sales; Excellence Megan Stopulos Top Lister; in Service; Top AHS Award Davenport Office Burlington Office Referral Associate; Nelson Brothers Award Iowa City Office
Bob Hilbert
Davenport Office
Lindsay Thiel
Davenport Office
Regen Johnson
Silver Club Denny Wachs Ruhl Mortgage Award Iowa City Office
Karl Larsen
Iowa City Office
Kris Whalen
Eric Bartelt
Carole Benson
Clinton Office
Muscatine Office
Maureen Linnabery
Roxie Mitchell Cherokee Render Randy Richter
Moline Office
New Associate of the Year Iowa City Office
Cedar Rapids Office
Cedar Rapids Office
Cedar Rapids Office
Mona Asbell Burbach
Dubuque Office
Cedar Rapids Office
Davenport Office
Ashley Rowe
Phyllis Roxlau
Lisa Schaeffer
New Associate of the Year Moline Office
Burlington Office
Moline Office
Moline Office
Cedar Rapids Office
Nelson Brothers Award Burlington Office
Gwen Schwindt
Bettendorf Office
Achievement Clubs - continued
2015
Janel Shimak Cedar Rapids Office
Raymond Siddell
Cedar Rapids Office
Elaine Smithson
Scott Spalding Maquoketa Office
Muscatine Office
Muscatine Office
JJ Condon
Dylan Diedrich
Hannah Dolash
Eva Dondanville
Davenport Office
Bettendorf Office
Davenport Office
Joe Janssen
Malisa Kothe
LeighAnne Kerr
Kim Linnenkamp
Top Referral Associate; AHS Award Maquoketa Office
Suzi Webb
Steve Welk
Lacey Welsh
2015
Top New Associate of the Year Davenport Office
Kathy Winner Dubuque Office
Lisa Zeimet
Davenport Office
Bronze Club Liz Abramsky
Roger Freitag
Dubuque Office
Davenport Office
Don Gibeault
Fred Harris, Jr.
Davenport Office
Davenport Office
Michelle Lochner & Mike Havlik
Muscatine Office
Austin Maas
Joni Paaske
Randy Peters
Bettendorf Office
Pam Stewart Clinton Office
Jenny Hobbs
Bettendorf Office
Bettendorf Office
Ouida Maddox
Lindsay Morhardt
Moline Office
Cedar Rapids Office
Bettendorf Office
New Associate of the Year DeWitt Office
Nikki Preston New Associate of the Year Clinton Office
Mary Tharp Moline Office
Excellence in Service Clinton Office
Diane Hughes Davenport Office
Kelly Mortensen
New Associate of the Year Dubuque Office
Moline Office
Doris MosleyJohnson
Nelson Brothers Award Clinton Office
Muscatine Office
Burlington Office
Laura Reynolds
Stephanie Rodruck
Leslie Roland
Davenport Office
Lisa VanderBleek
Bettendorf Office
Bettendorf Office
Jake Ward
Moline Office
Davenport Office
Carol Bridgewater Warner Cedar Rapids Office
Greg Cotton
Pam DeVore
Glenn Eakes
New Associate of the Year; Top Referral Associate Burlington Office
Kim Mueller
Jeanne Eble
Dubuque Office
Liz Nash
Bettendorf Office
Clinton Office
Betty Roudybush
Krisha Saldivar
Muscatine Office
Bridgette Wedekind
Bettendorf Office
Bev Fedje
Washington Office
Chris Nixon Clinton Office
Jude Steil Top Referral Associate Bettendorf Office
Muscatine Office
Jeremiah Westerfield
Bettendorf Office
Bettendorf Office
Nettie Willey
Tim Sampiller
Amanda Hodge
Wayne Kreutner
Additional Award Winners Anna Wilson Cedar Rapids Office
Andy Yohe
New Associate of the Year Bettendorf Office
Nelson Brothers Award Ruhl Mortgage Davenport Office
New Associate of the Year Muscatine Office
Employee of the Year Corporate Office
Top Referral Associate Corporate Office
New Associate of the Year Cedar Rapids Office