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Jon Loquist GRI, CRS, CRB Moline Office 1701 - 52nd Avenue Moline, IL 61265-6377 (309)743-8088 jonloquist@ruhlhomes.com JonLoquist.com

Jon Loquist GRI, CRS, CRB Moline Office 1701 - 52nd Avenue Moline, IL 61265-6377 (309)743-8088 jonloquist@ruhlhomes.com JonLoquist.com

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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


Blue Skies continued from page 2

Regional New Construction Home Sales Through June 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 6/30/11

222 105 117 64 46 18 28 11 17 117 67 50 257 100 157 688

Active Inventory 6/30/12

182 114 68 69 46 23 22 5 17 88 44 44 137 96 41 498

Active Inventory 6/30/13

133 75 58 55 33 22 12 2 10 86 45 41 216 138 78 502

% Change in Inventory from 2012

Sales 2011

-27% -34% -15% -20% -28% -4% -45% -60% -41% -2% +2% -7% +58% +44% +90% +1%

164 118 46 20 20 0 16 9 7 87 55 32 161 73 88 448

Sales 2012

158 96 62 26 24 2 14 10 4 114 82 32 205 106 99 517

Illinois Quad Cities

Sales 2013

145 93 52 34 33 1 3 2 1 107 82 25 204 112 92 493

% Change in Sales from 2012

-8% -3% -16% +31% +38% -50% -79% -80% -75% -6% 0% -22% 0% +6% -7% -5%

Low Inventory Holding Back New Construction Sales Buyers are back and eager to purchase affordable new construction homes, and they want to buy now before costs go up further and interest rates increase. But bank regulations continue to severely limit builder financing, resulting in an inventory shortage in our region. Rising new construction costs have caused a noticeable change in new

house sales prices across the region. For several quarters, the pricing breakdown has put about 60% of sales below $300K, 25% between $300-400K and 15% over $400K. For the first half of 2013, the following figures apply: Below $300K = 44% $300-400K = 34% Above $400K = 22%

Despite rising costs and limited inventory, new construction sales still account for about 1 in every 12 house sales and 1 in every 5 condo sales across the region. Condo sales have fallen steadily from about 47% of sales mid-year in 2010 to about 35% this year. Condo inventory has also fallen from

New Construction continued on page 7

Home Prices Steadily Rising in our Local Markets Slow and steady wins the race! Our eastern Iowa markets continue to have steady and stable growth in home price appreciation. Nationally home prices have fallen 9.15% in the last five years, but all of our markets’ home prices are up: 7.01% in Dubuque; 1.95% in Iowa City; 1.48% in the Quad Cities; and 0.74% in Cedar Rapids. This compares to other cities: Des Moines, IA down 4.64%; Chicago, IL down 25.60%; and the Daytona Beach, FL area down 40.61%. Our markets didn’t fall as drastically as other areas of the country, so the increase in home price appreciation has been modest but steady. The shortage of listings and pent up buyer demand may further improve home prices locally. According to the Federal Housing Finance Agency, of the 300 MSAs (Metropolitan Statistical Areas) ranked by home price appreciation, all of our 6 • RuhlHomes.com

Metropolitan Statistical Areas (MSA’s)

Cedar Rapids, IA Davenport-MolineRock Island , IA-IL Des MoinesWest Des Moines, IA Dubuque, IA Iowa City, IA

2013 Appreciation Ranking of 300 MSA’s*

Percent Change in House Prices 1 Year 5 Year

173

+0.67%

+0.74%

140

+1.31%

+1.48%

146

+1.20%

-4.64%

98 106

+2.31% +1.96% +6.72%

+7.01% +1.95% -9.15%

USA

*Information courtesy of Federal Housing Finance Agency (FHFA) for first quarter 2013. 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.

markets in eastern Iowa ranked in the top 58% in the nation – Dubuque at 98th; Iowa City at 106th; the Quad Cities at 140th; and Cedar Rapids at 173rd. Nationally, this is the seventh consecutive quarterly price rise and overall it’s believed the housing market has stabilized in many areas, but a

still-elevated foreclosure pipeline remains a hindrance to a bigger recovery, said FHFA Principal Economist Andrew Leventis. Our local markets continue to provide a much more stable environment for purchasing homes and investing in real estate.

Listing Inventory: The number of properties for sale in the Illinois Quad Cities is down 6%; from 949 listings last year to 893 listings currently on the market. Properties Sold: Through the second quarter of 2013, 4% more properties sold, comparing 840 sales through June last year to 874 sales through June this year. Average Sales Price: The average sales price had no statistical change, from $107,200 through June 2012 to $107,100 through June 2013. Residential Sales Volume: Sales volume increased 4% in the first half of 2013, from $90,021,500 to $93,575,200.

Iowa Quad Cities

Listing Inventory: There are 743 homes and condominiums listed for sale in the Iowa Quad Cities, 20% fewer than the same time last year when there were 934 properties for sale. Properties Sold: 16% more properties sold through the second quarter of 2013, an increase from 977 sales in the first half of 2012 to 1,140 sales in the first half of this year. Average Sales Price: The average sales price increased 2%; from $173,500 through June 2012 to $177,200 through June 2013. Residential Sales Volume: Sales volume went up 20% from $169,497,700 through the second quarter of 2012 to $201,995,200 through the second quarter of 2013. This follows a 21% increase in sales volume from the first half of 2011 to the first half of 2012.

Iowa City Area

Listing Inventory: The number of properties for sale in Iowa City is down 15%, a decrease from 1,554 in 2012 to 1,322 properties currently on the market.

Properties Sold: The number of properties sold increased 7% from 1,259 properties sold through the first half of 2012 to 1,343 sales closed through the first half of 2013. Average Sales Price: The average sales price increased 7%, from $193,700 in the first half of 2012 to $207,100 in the first half of 2013. Residential Sales Volume: Sales volume increased 14%, from $243,837,500 through June 2012 to $278,095,000 through June 2013.

Maquoketa, Preston & Bellevue

Listing Inventory: There are 100 properties for sale in the Maquoketa, Preston, and Bellevue area, 3% more than the same time last year when there were 97 properties listed for sale. Properties Sold: 51% more properties sold during the first half of 2013, an increase from 55 sales in 2012 to 83 sales in 2013. Average Sales Price: The average sales price of homes sold through June 2013 was $111,700, 16% more than the average sales price of $95,900 through June 2012. Residential Sales Volume: Sales volume grew 76%, from $5,276,400 in the first half of 2012 to $9,273,600 in the first half of 2013. This follows a 40% decrease in sales volume from the first half of 2011 to the first half of 2012.

Muscatine & Wilton Area

Listing Inventory: There are 224 homes and condominiums listed for sale in the Muscatine and Wilton area, 24% fewer than the same time last year when there were 295 properties for sale. Properties Sold: 6% more residential properties sold in the first half of 2013, comparing 229 sales last year to 243 sales in the first half of this year. Average Sales Price: The average sales price in the Muscatine area was $124,300, a 1% increase from the

average sales price in the first half of 2012 of $123,800. Residential Sales Volume: Sales volume was up 8%, an increase from $28,361,100 through June 2012 to $30,539,900 through June 2013.

Southwest Wisconsin

Listing Inventory: There are 438 properties for sale in the southwest Wisconsin region, a 2% increase in the number of properties for sale at the same time last year when there were 431 listings. Properties Sold: There was an 8% decrease in the number of residential properties sold in the first half of 2013, comparing 216 properties sold in 2012 to 199 properties sold this year. Average Sales Price: The average sales price was $110,300 during the first half of 2013, 11% lower than the $123,500 average sales price in the first half of 2012. Residential Sales Volume: Sales volume was down 18% through June 2013, a decrease from $26,671,300 through June 2012 to $21,958,700 through June 2013.

Washington Area

Listing Inventory: There are 100 properties for sale in Washington, Iowa and the surrounding area, a 22% decrease in the number of properties for sale at the same time last year when there were 129 listings. Properties Sold: There was a 4% increase in the number of residential properties sold through June 2013, comparing 68 properties sold in 2012 to 71 properties sold through the first half of this year. Average Sales Price: The average sales price was $86,400, 18% lower than the average sales price of $105,000 in the first half of 2012. Residential Sales Volume: Sales volume was down 14% through June 2013, a decrease from $7,140,400 through June 2012 to $6,133,100 through June 2013.

Combined Iowa & Illinois Quad Cities MLS Statistics Through June

2009

2010

2011

2012

2013

Current MLS Listings Average Sales Price Total Sales Volume Total # of Sales YTD

1,938 $137,200 $223,996,300 1,633

2,039 $136,400 $258,757,900 1,897

2,106 $132,600 $216,732,100 1,634

1,883 $142,800 $259,519,200 1,817

1,636 $146,800 $295,570,400 2,014

% Change 2012 vs. 2013 -13% +3% +14% +11%

RuhlHomes.com • 3


Regional Residential Real Estate Activity Chart

New Tools for Our Customers Ruhl&Ruhl REALTORS has unveiled many new tools making your real estate process easy, informative and fun. mobileRuhl, our new app for Android and Apple devices, debuted in February and our updated website, RuhlHomes.com, was launched in May.

Neighborhood Reports Get a real estate snapshot of any neighborhood with a Neighborhood Report. Get information about properties for sale, pending, and sold in the neighborhood as well as real estate trends over the last year. Start receiving Neighborhood Reports today by contacting the sales associate you are working with. Or you can sign up by emailing CustomerService@RuhlHomes.com.

Quad Cities at Lowest Housing Inventory since 2000 The Quad Cities inventory of homes for sale is at a 13-year low with 1,636 properties listed for sale. Inventory has been declining steadily over the past few years as the market has picked up and investors began a buying spree before prices went up. There is uneven demand based on price ranges and neighborhoods. There are still some great bargains in the upper price ranges where demand isn’t as strong. For example, for homes priced at $500,000 and above, there are 20 months of inventory and the absorption rate is 6.7 homes per month.

The Iowa Quad Cities currently has fewer properties listed for sale than in 2000. As of June 20, 2013 there were 743 properties listed for sale, compared to 700 in summer 2000. The Illinois Quad Cities is at an 8-year low for inventory. There are 893 properties for sale compared to the prior lowest year of 2005 when there were 885 listings. The best way for prospective buyers and sellers to ascertain the demand in a particular neighborhood is to have a Realtor® show the absorption rate or months of inventory in that neighborhood.

Mid-Year Comparison of Quad Cities Real Estate Activity 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000

IA 1,140 977 901 1,064 884 1,029 1,171 1,218 1,200 1,257 1,139 1,137 1,154 1,059

4 • RuhlHomes.com

Sales IL 874 840 733 833 749 907 1,011 1,054 1,102 1,074 971 996 997 1,028

Totals 2,014 1,817 1,634 1,897 1,633 1,936 2,182 2,272 2,302 2,331 2,110 2,133 2,151 2,087

Listings IA IL 743 893 934 949 973 1,133 972 1,067 957 981 1,081 1,079 1,108 991 1,107 985 960 885 989 959 931 835 813 844 843 913 700 726

Totals 1,636 1,883 2,106 2,039 1,938 2,160 2,099 2,092 1,845 1,948 1,766 1,657 1,756 1,426

Through June

Current MLS Listings

Burlington Area (Burlington Board of Realtors) Cedar Rapids Area (Cedar Rapids Area Assoc. of Realtors)

% of Active Listings

2013 Avg. Sales Price

2013 Sales Volume

2013 # Sold

% of Unit Sales

Sales/ List

2012 # Sold

2012 Avg. Sales Price

2012 Sales Volume

229

$107,200

$28,953,600

270

95%

249

$104,900

$26,122,100

1,936

$174,100

$329,225,600

1,962

97%

1,736

$158,300

$274,729,400

Southeast Cedar Rapids

176

9%

159,400

28,860,400

181

9%

96%

137

134,500

18,423,200

Northeast Cedar Rapids

287

14%

178,600

49,465,700

277

13%

97%

260

160,000

41,610,300

Southwest Cedar Rapids

155

8%

141,000

23,971,000

170

8%

98%

172

129,000

22,193,700

Northwest Cedar Rapids

145

7%

129,700

18,546,400

143

7%

98%

142

125,100

17,760,000

32

2%

252,100

11,345,200

45

2%

98%

51

228,400

11,649,900

Marion

195

10%

189,600

47,778,600

252

12%

99%

207

184,600

38,203,600

East of I-380: Mechanicsville, Anamosa, Mt. Vernon, Lisbon, etc.

251

12%

153,700

33,513,900

218

11%

96%

220

168,900

37,168,200

West of I-380: Walford, Fairfax, Atkins, etc.

195

10%

150,700

22,308,600

148

7%

96%

148

132,500

19,607,000

Corridor Area: Solon, Ely, Swisher

141

7%

279,100

33,497,400

120

6%

97%

80

257,800

20,620,300

Condominiums

359

21%

146,900

59,938,400

408

25%

99%

346

137,300

47,493,200

Clinton, Camanche & Fulton (Clinton Board of Realtors)

328

$94,200

$17,904,500

190

94%

234

$100,000

$23,406,000

47

$151,100

$6,345,100

42

94%

63

$137,400

$8,653,900

Dubuque Area (Dubuque Board of Realtors)

615

$159,300

$76,778,700

482

95%

466

$159,000

$74,076,200

Dubuque

418

68%

165,300

60,848,400

368

77%

98%

362

159,000

57,574,800

North, South and West Dubuque

123

20%

142,300

12,951,600

91

19%

94%

84

162,500

13,650,000

Illinois

53

9%

104,500

1,149,800

11

2%

92%

12

129,100

1,549,000

Wisconsin

21

3%

152,400

1,828,900

12

2%

92%

8

162,800

1,302,400

$172,600

$8,630,900

50

79%

59

$175,000

$10,323,600

Hiawatha & Robins

DeWitt (Quad City Area Realtor Assoc.)

Galena & Surrounding Area (Realtor Assoc. of Northwest IL)

407

Illinois Quad Cities (Quad City Area Realtor Assoc.)

893

$107,100

$93,575,200

874

95%

840

$107,200

$90,021,500

Rock Island

139

16%

88,000

14,868,700

169

19%

95%

149

83,600

12,459,600

72

8%

110,900

7,429,900

67

8%

94%

59

139,100

8,209,200

156

17%

101,700

20,637,200

203

23%

95%

193

101,900

19,660,400

Milan & Rural Rock Island County Moline Coal Valley, Rural Moline, Miscellaneous

31

3%

145,600

5,242,800

36

4%

96%

32

160,600

5,139,300

112

13%

94,700

8,053,500

85

10%

95%

115

95,900

11,025,100

Port Byron, Upper Rock Island County

58

6%

171,000

7,353,000

43

5%

95%

31

170,000

5,270,000

Mercer County

78

9%

107,500

5,157,800

48

5%

94%

42

101,300

4,255,800

Henry County

181

21%

84,900

18,394,700

170

19%

94%

155

109,600

16,988,100

66

7%

7%

96%

64

109,600

7,014,000

97%

977

$173,500

$169,497,700

97%

497

128,700

63,963,900

272,000

59,306,700

East Moline & Silvis

Condominiums

121,500

6,437,600

53

$177,200

$201,995,200

1,140

140,600

85,624,500

609

290,400

62,435,500

215

19%

98%

218

172,100

8,948,400

52

5%

96%

30

179,800

5,393,300

5%

237,000

9,478,300

40

4%

97%

42

253,500

10,648,700

26

3%

199,800

11,189,700

56

5%

98%

52

202,800

10,546,800

50

7%

106,700

3,521,100

33

3%

92%

26

105,400

2,740,800

100

13%

154,100

20,797,700

135

11%

98%

112

150,900

16,897,500

Iowa Quad Cities (Quad City Area Realtor Assoc.)

743

Davenport

376

Bettendorf & Riverdale

119

16%

Blue Grass, Buffalo, Durant & Walcott

38

5%

LeClaire, Pleasant Valley & Princeton

34

North Scott County Miscellaneous Condominiums Iowa City Area (Iowa City Area Assoc. of Realtors)

51%

$207,100

$278,095,000

1,343

98%

1,259

$193,700

$243,837,500

Iowa City

267

20%

260,100

84,516,800

325

24%

98%

297

242,300

71,952,700

Coralville

99

7%

293,500

31,990,200

109

8%

98%

85

282,700

24,028,000

Northwest Iowa City

124

9%

274,600

39,263,300

143

11%

99%

140

246,000

34,436,400

Northeast Iowa City

39

3%

158,700

4,919,400

31

2%

97%

23

153,400

3,528,500

Southeast Iowa City

30

2%

133,500

2,669,800

20

1%

94%

25

141,700

3,541,500

Southwest Iowa City

93

7%

155,400

10,412,700

67

5%

96%

60

163,000

9,780,200

Corridor Area

73

6%

330,700

15,213,500

46

3%

96%

41

240,100

9,842,500

Miscellaneous

240

18%

147,000

23,369,100

159

12%

96%

162

138,000

22,350,200

Condominiums Maquoketa, Preston & Bellevue (Jackson County MLS)

357 100

28%

148,400 $111,700

65,740,200 $9,273,600

443 83

34%

99% 94%

426 55

151,100 $95,900

64,377,400 $5,276,400

Muscatine & Wilton Area (Muscatine Board of Realtors)

224

$124,300

$30,539,900

243

95%

229

$123,800

$28,361,100

Muscatine

134

60%

123,000

21,397,300

174

72%

95%

155

115,300

17,869,900

Wilton

20

9%

123,100

2,584,500

21

9%

95%

19

106,500

2,023,000

Muscatine Outlying

64

28%

131,500

4,864,500

37

15%

95%

43

160,300

6,894,800

6

3%

154,000

1,693,600

11

4%

96%

12

131,100

1,573,400

Condominiums

1,322

53%

Washington Area* (English River MLS)

100

$86,400

$6,133,100

71

94%

68

$105,000

$7,140,400

Wisconsin - Grant & Lafayette Co. (S. Central Wisconsin)

438

$110,300

$21,958,700

199

88%

216

$123,500

$26,671,300

(This representation is based in part on data supplied by the REALTOR Associations or their Multiple List­ing Services. Neither the Boards nor their MLS guarantee or is in any way MLS) responsible for its accuracy. Data maintained by the Boards or their MLS may not reflect all real estate activity in the market.) *Washington Area includes Mount Pleasant and Fairfield.

RuhlHomes.com • 5


Regional Residential Real Estate Activity Chart

New Tools for Our Customers Ruhl&Ruhl REALTORS has unveiled many new tools making your real estate process easy, informative and fun. mobileRuhl, our new app for Android and Apple devices, debuted in February and our updated website, RuhlHomes.com, was launched in May.

Neighborhood Reports Get a real estate snapshot of any neighborhood with a Neighborhood Report. Get information about properties for sale, pending, and sold in the neighborhood as well as real estate trends over the last year. Start receiving Neighborhood Reports today by contacting the sales associate you are working with. Or you can sign up by emailing CustomerService@RuhlHomes.com.

Quad Cities at Lowest Housing Inventory since 2000 The Quad Cities inventory of homes for sale is at a 13-year low with 1,636 properties listed for sale. Inventory has been declining steadily over the past few years as the market has picked up and investors began a buying spree before prices went up. There is uneven demand based on price ranges and neighborhoods. There are still some great bargains in the upper price ranges where demand isn’t as strong. For example, for homes priced at $500,000 and above, there are 20 months of inventory and the absorption rate is 6.7 homes per month.

The Iowa Quad Cities currently has fewer properties listed for sale than in 2000. As of June 20, 2013 there were 743 properties listed for sale, compared to 700 in summer 2000. The Illinois Quad Cities is at an 8-year low for inventory. There are 893 properties for sale compared to the prior lowest year of 2005 when there were 885 listings. The best way for prospective buyers and sellers to ascertain the demand in a particular neighborhood is to have a Realtor® show the absorption rate or months of inventory in that neighborhood.

Mid-Year Comparison of Quad Cities Real Estate Activity 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000

IA 1,140 977 901 1,064 884 1,029 1,171 1,218 1,200 1,257 1,139 1,137 1,154 1,059

4 • RuhlHomes.com

Sales IL 874 840 733 833 749 907 1,011 1,054 1,102 1,074 971 996 997 1,028

Totals 2,014 1,817 1,634 1,897 1,633 1,936 2,182 2,272 2,302 2,331 2,110 2,133 2,151 2,087

Listings IA IL 743 893 934 949 973 1,133 972 1,067 957 981 1,081 1,079 1,108 991 1,107 985 960 885 989 959 931 835 813 844 843 913 700 726

Totals 1,636 1,883 2,106 2,039 1,938 2,160 2,099 2,092 1,845 1,948 1,766 1,657 1,756 1,426

Through June

Current MLS Listings

Burlington Area (Burlington Board of Realtors) Cedar Rapids Area (Cedar Rapids Area Assoc. of Realtors)

% of Active Listings

2013 Avg. Sales Price

2013 Sales Volume

2013 # Sold

% of Unit Sales

Sales/ List

2012 # Sold

2012 Avg. Sales Price

2012 Sales Volume

229

$107,200

$28,953,600

270

95%

249

$104,900

$26,122,100

1,936

$174,100

$329,225,600

1,962

97%

1,736

$158,300

$274,729,400

Southeast Cedar Rapids

176

9%

159,400

28,860,400

181

9%

96%

137

134,500

18,423,200

Northeast Cedar Rapids

287

14%

178,600

49,465,700

277

13%

97%

260

160,000

41,610,300

Southwest Cedar Rapids

155

8%

141,000

23,971,000

170

8%

98%

172

129,000

22,193,700

Northwest Cedar Rapids

145

7%

129,700

18,546,400

143

7%

98%

142

125,100

17,760,000

32

2%

252,100

11,345,200

45

2%

98%

51

228,400

11,649,900

Marion

195

10%

189,600

47,778,600

252

12%

99%

207

184,600

38,203,600

East of I-380: Mechanicsville, Anamosa, Mt. Vernon, Lisbon, etc.

251

12%

153,700

33,513,900

218

11%

96%

220

168,900

37,168,200

West of I-380: Walford, Fairfax, Atkins, etc.

195

10%

150,700

22,308,600

148

7%

96%

148

132,500

19,607,000

Corridor Area: Solon, Ely, Swisher

141

7%

279,100

33,497,400

120

6%

97%

80

257,800

20,620,300

Condominiums

359

21%

146,900

59,938,400

408

25%

99%

346

137,300

47,493,200

Clinton, Camanche & Fulton (Clinton Board of Realtors)

328

$94,200

$17,904,500

190

94%

234

$100,000

$23,406,000

47

$151,100

$6,345,100

42

94%

63

$137,400

$8,653,900

Dubuque Area (Dubuque Board of Realtors)

615

$159,300

$76,778,700

482

95%

466

$159,000

$74,076,200

Dubuque

418

68%

165,300

60,848,400

368

77%

98%

362

159,000

57,574,800

North, South and West Dubuque

123

20%

142,300

12,951,600

91

19%

94%

84

162,500

13,650,000

Illinois

53

9%

104,500

1,149,800

11

2%

92%

12

129,100

1,549,000

Wisconsin

21

3%

152,400

1,828,900

12

2%

92%

8

162,800

1,302,400

$172,600

$8,630,900

50

79%

59

$175,000

$10,323,600

Hiawatha & Robins

DeWitt (Quad City Area Realtor Assoc.)

Galena & Surrounding Area (Realtor Assoc. of Northwest IL)

407

Illinois Quad Cities (Quad City Area Realtor Assoc.)

893

$107,100

$93,575,200

874

95%

840

$107,200

$90,021,500

Rock Island

139

16%

88,000

14,868,700

169

19%

95%

149

83,600

12,459,600

72

8%

110,900

7,429,900

67

8%

94%

59

139,100

8,209,200

156

17%

101,700

20,637,200

203

23%

95%

193

101,900

19,660,400

Milan & Rural Rock Island County Moline Coal Valley, Rural Moline, Miscellaneous

31

3%

145,600

5,242,800

36

4%

96%

32

160,600

5,139,300

112

13%

94,700

8,053,500

85

10%

95%

115

95,900

11,025,100

Port Byron, Upper Rock Island County

58

6%

171,000

7,353,000

43

5%

95%

31

170,000

5,270,000

Mercer County

78

9%

107,500

5,157,800

48

5%

94%

42

101,300

4,255,800

Henry County

181

21%

84,900

18,394,700

170

19%

94%

155

109,600

16,988,100

66

7%

7%

96%

64

109,600

7,014,000

97%

977

$173,500

$169,497,700

97%

497

128,700

63,963,900

272,000

59,306,700

East Moline & Silvis

Condominiums

121,500

6,437,600

53

$177,200

$201,995,200

1,140

140,600

85,624,500

609

290,400

62,435,500

215

19%

98%

218

172,100

8,948,400

52

5%

96%

30

179,800

5,393,300

5%

237,000

9,478,300

40

4%

97%

42

253,500

10,648,700

26

3%

199,800

11,189,700

56

5%

98%

52

202,800

10,546,800

50

7%

106,700

3,521,100

33

3%

92%

26

105,400

2,740,800

100

13%

154,100

20,797,700

135

11%

98%

112

150,900

16,897,500

Iowa Quad Cities (Quad City Area Realtor Assoc.)

743

Davenport

376

Bettendorf & Riverdale

119

16%

Blue Grass, Buffalo, Durant & Walcott

38

5%

LeClaire, Pleasant Valley & Princeton

34

North Scott County Miscellaneous Condominiums Iowa City Area (Iowa City Area Assoc. of Realtors)

51%

$207,100

$278,095,000

1,343

98%

1,259

$193,700

$243,837,500

Iowa City

267

20%

260,100

84,516,800

325

24%

98%

297

242,300

71,952,700

Coralville

99

7%

293,500

31,990,200

109

8%

98%

85

282,700

24,028,000

Northwest Iowa City

124

9%

274,600

39,263,300

143

11%

99%

140

246,000

34,436,400

Northeast Iowa City

39

3%

158,700

4,919,400

31

2%

97%

23

153,400

3,528,500

Southeast Iowa City

30

2%

133,500

2,669,800

20

1%

94%

25

141,700

3,541,500

Southwest Iowa City

93

7%

155,400

10,412,700

67

5%

96%

60

163,000

9,780,200

Corridor Area

73

6%

330,700

15,213,500

46

3%

96%

41

240,100

9,842,500

Miscellaneous

240

18%

147,000

23,369,100

159

12%

96%

162

138,000

22,350,200

Condominiums Maquoketa, Preston & Bellevue (Jackson County MLS)

357 100

28%

148,400 $111,700

65,740,200 $9,273,600

443 83

34%

99% 94%

426 55

151,100 $95,900

64,377,400 $5,276,400

Muscatine & Wilton Area (Muscatine Board of Realtors)

224

$124,300

$30,539,900

243

95%

229

$123,800

$28,361,100

Muscatine

134

60%

123,000

21,397,300

174

72%

95%

155

115,300

17,869,900

Wilton

20

9%

123,100

2,584,500

21

9%

95%

19

106,500

2,023,000

Muscatine Outlying

64

28%

131,500

4,864,500

37

15%

95%

43

160,300

6,894,800

6

3%

154,000

1,693,600

11

4%

96%

12

131,100

1,573,400

Condominiums

1,322

53%

Washington Area* (English River MLS)

100

$86,400

$6,133,100

71

94%

68

$105,000

$7,140,400

Wisconsin - Grant & Lafayette Co. (S. Central Wisconsin)

438

$110,300

$21,958,700

199

88%

216

$123,500

$26,671,300

(This representation is based in part on data supplied by the REALTOR Associations or their Multiple List­ing Services. Neither the Boards nor their MLS guarantee or is in any way MLS) responsible for its accuracy. Data maintained by the Boards or their MLS may not reflect all real estate activity in the market.) *Washington Area includes Mount Pleasant and Fairfield.

RuhlHomes.com • 5


Blue Skies continued from page 2

Regional New Construction Home Sales Through June 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 6/30/11

222 105 117 64 46 18 28 11 17 117 67 50 257 100 157 688

Active Inventory 6/30/12

182 114 68 69 46 23 22 5 17 88 44 44 137 96 41 498

Active Inventory 6/30/13

133 75 58 55 33 22 12 2 10 86 45 41 216 138 78 502

% Change in Inventory from 2012

Sales 2011

-27% -34% -15% -20% -28% -4% -45% -60% -41% -2% +2% -7% +58% +44% +90% +1%

164 118 46 20 20 0 16 9 7 87 55 32 161 73 88 448

Sales 2012

158 96 62 26 24 2 14 10 4 114 82 32 205 106 99 517

Illinois Quad Cities

Sales 2013

145 93 52 34 33 1 3 2 1 107 82 25 204 112 92 493

% Change in Sales from 2012

-8% -3% -16% +31% +38% -50% -79% -80% -75% -6% 0% -22% 0% +6% -7% -5%

Low Inventory Holding Back New Construction Sales Buyers are back and eager to purchase affordable new construction homes, and they want to buy now before costs go up further and interest rates increase. But bank regulations continue to severely limit builder financing, resulting in an inventory shortage in our region. Rising new construction costs have caused a noticeable change in new

house sales prices across the region. For several quarters, the pricing breakdown has put about 60% of sales below $300K, 25% between $300-400K and 15% over $400K. For the first half of 2013, the following figures apply: Below $300K = 44% $300-400K = 34% Above $400K = 22%

Despite rising costs and limited inventory, new construction sales still account for about 1 in every 12 house sales and 1 in every 5 condo sales across the region. Condo sales have fallen steadily from about 47% of sales mid-year in 2010 to about 35% this year. Condo inventory has also fallen from

New Construction continued on page 7

Home Prices Steadily Rising in our Local Markets Slow and steady wins the race! Our eastern Iowa markets continue to have steady and stable growth in home price appreciation. Nationally home prices have fallen 9.15% in the last five years, but all of our markets’ home prices are up: 7.01% in Dubuque; 1.95% in Iowa City; 1.48% in the Quad Cities; and 0.74% in Cedar Rapids. This compares to other cities: Des Moines, IA down 4.64%; Chicago, IL down 25.60%; and the Daytona Beach, FL area down 40.61%. Our markets didn’t fall as drastically as other areas of the country, so the increase in home price appreciation has been modest but steady. The shortage of listings and pent up buyer demand may further improve home prices locally. According to the Federal Housing Finance Agency, of the 300 MSAs (Metropolitan Statistical Areas) ranked by home price appreciation, all of our 6 • RuhlHomes.com

Metropolitan Statistical Areas (MSA’s)

Cedar Rapids, IA Davenport-MolineRock Island , IA-IL Des MoinesWest Des Moines, IA Dubuque, IA Iowa City, IA

2013 Appreciation Ranking of 300 MSA’s*

Percent Change in House Prices 1 Year 5 Year

173

+0.67%

+0.74%

140

+1.31%

+1.48%

146

+1.20%

-4.64%

98 106

+2.31% +1.96% +6.72%

+7.01% +1.95% -9.15%

USA

*Information courtesy of Federal Housing Finance Agency (FHFA) for first quarter 2013. 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.

markets in eastern Iowa ranked in the top 58% in the nation – Dubuque at 98th; Iowa City at 106th; the Quad Cities at 140th; and Cedar Rapids at 173rd. Nationally, this is the seventh consecutive quarterly price rise and overall it’s believed the housing market has stabilized in many areas, but a

still-elevated foreclosure pipeline remains a hindrance to a bigger recovery, said FHFA Principal Economist Andrew Leventis. Our local markets continue to provide a much more stable environment for purchasing homes and investing in real estate.

Listing Inventory: The number of properties for sale in the Illinois Quad Cities is down 6%; from 949 listings last year to 893 listings currently on the market. Properties Sold: Through the second quarter of 2013, 4% more properties sold, comparing 840 sales through June last year to 874 sales through June this year. Average Sales Price: The average sales price had no statistical change, from $107,200 through June 2012 to $107,100 through June 2013. Residential Sales Volume: Sales volume increased 4% in the first half of 2013, from $90,021,500 to $93,575,200.

Iowa Quad Cities

Listing Inventory: There are 743 homes and condominiums listed for sale in the Iowa Quad Cities, 20% fewer than the same time last year when there were 934 properties for sale. Properties Sold: 16% more properties sold through the second quarter of 2013, an increase from 977 sales in the first half of 2012 to 1,140 sales in the first half of this year. Average Sales Price: The average sales price increased 2%; from $173,500 through June 2012 to $177,200 through June 2013. Residential Sales Volume: Sales volume went up 20% from $169,497,700 through the second quarter of 2012 to $201,995,200 through the second quarter of 2013. This follows a 21% increase in sales volume from the first half of 2011 to the first half of 2012.

Iowa City Area

Listing Inventory: The number of properties for sale in Iowa City is down 15%, a decrease from 1,554 in 2012 to 1,322 properties currently on the market.

Properties Sold: The number of properties sold increased 7% from 1,259 properties sold through the first half of 2012 to 1,343 sales closed through the first half of 2013. Average Sales Price: The average sales price increased 7%, from $193,700 in the first half of 2012 to $207,100 in the first half of 2013. Residential Sales Volume: Sales volume increased 14%, from $243,837,500 through June 2012 to $278,095,000 through June 2013.

Maquoketa, Preston & Bellevue

Listing Inventory: There are 100 properties for sale in the Maquoketa, Preston, and Bellevue area, 3% more than the same time last year when there were 97 properties listed for sale. Properties Sold: 51% more properties sold during the first half of 2013, an increase from 55 sales in 2012 to 83 sales in 2013. Average Sales Price: The average sales price of homes sold through June 2013 was $111,700, 16% more than the average sales price of $95,900 through June 2012. Residential Sales Volume: Sales volume grew 76%, from $5,276,400 in the first half of 2012 to $9,273,600 in the first half of 2013. This follows a 40% decrease in sales volume from the first half of 2011 to the first half of 2012.

Muscatine & Wilton Area

Listing Inventory: There are 224 homes and condominiums listed for sale in the Muscatine and Wilton area, 24% fewer than the same time last year when there were 295 properties for sale. Properties Sold: 6% more residential properties sold in the first half of 2013, comparing 229 sales last year to 243 sales in the first half of this year. Average Sales Price: The average sales price in the Muscatine area was $124,300, a 1% increase from the

average sales price in the first half of 2012 of $123,800. Residential Sales Volume: Sales volume was up 8%, an increase from $28,361,100 through June 2012 to $30,539,900 through June 2013.

Southwest Wisconsin

Listing Inventory: There are 438 properties for sale in the southwest Wisconsin region, a 2% increase in the number of properties for sale at the same time last year when there were 431 listings. Properties Sold: There was an 8% decrease in the number of residential properties sold in the first half of 2013, comparing 216 properties sold in 2012 to 199 properties sold this year. Average Sales Price: The average sales price was $110,300 during the first half of 2013, 11% lower than the $123,500 average sales price in the first half of 2012. Residential Sales Volume: Sales volume was down 18% through June 2013, a decrease from $26,671,300 through June 2012 to $21,958,700 through June 2013.

Washington Area

Listing Inventory: There are 100 properties for sale in Washington, Iowa and the surrounding area, a 22% decrease in the number of properties for sale at the same time last year when there were 129 listings. Properties Sold: There was a 4% increase in the number of residential properties sold through June 2013, comparing 68 properties sold in 2012 to 71 properties sold through the first half of this year. Average Sales Price: The average sales price was $86,400, 18% lower than the average sales price of $105,000 in the first half of 2012. Residential Sales Volume: Sales volume was down 14% through June 2013, a decrease from $7,140,400 through June 2012 to $6,133,100 through June 2013.

Combined Iowa & Illinois Quad Cities MLS Statistics Through June

2009

2010

2011

2012

2013

Current MLS Listings Average Sales Price Total Sales Volume Total # of Sales YTD

1,938 $137,200 $223,996,300 1,633

2,039 $136,400 $258,757,900 1,897

2,106 $132,600 $216,732,100 1,634

1,883 $142,800 $259,519,200 1,817

1,636 $146,800 $295,570,400 2,014

% Change 2012 vs. 2013 -13% +3% +14% +11%

RuhlHomes.com • 3


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


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Jon Loquist GRI, CRS, CRB Moline Office 1701 - 52nd Avenue Moline, IL 61265-6377 (309)743-8088 jonloquist@ruhlhomes.com JonLoquist.com

Jon Loquist GRI, CRS, CRB Moline Office 1701 - 52nd Avenue Moline, IL 61265-6377 (309)743-8088 jonloquist@ruhlhomes.com JonLoquist.com

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