Leslie Roland Facts and Trends Summer 2016

Facts & Trends Real Estate

Ruhl&Ruhl Realtors

Summer 2016

Home Sales Brisk and Prices Appreciating

Leslie Roland Realtor Moline Office 1701 52nd Avenue Moline, IL 61265 (309) 644-2774 LeslieRoland@ruhlhomes.com LeslieRoland.RuhlHomes.com

IN THIS ISSUE: page 3 Home Improvements that Make You Happy

page 4 Homes Appreciating in Our Region

page 6 Ruhl Mortgage Makes Applying Online Easier

page 7 New Home Sales Strengthen as Overall Inventory Stabilizes

Surprisingly low interest rates fueled DQ DFWLYH ¿UVW KDOI RI IRU KRPH VDOHV in our region. Overall in the region, sales volume was up 10%, average sales prices were up 4%, 5% more properties were sold and there were 12% fewer properties listed for sale. Some of our top performing markets were:

on the Regional Real Estate Activity chart on page 2.

Surprisingly Low Interest Rates

Thanks in part to Brexit, our interest rates are approaching record lows, hovering in the following ranges: Conventional Fixed 15-year (no points)...........................2.625% Conventional Fixed % Change in Sales Volume 30-year (no points)...........................3.375% FHA/VA (no points)..........................3.250% +20% +18% 5/1 ARM (no points)..........................2.750% +17% Dubuque Iowa City Iowa Quad Many smart mortgage holders are Area Area Cities VHL]LQJ WKH RSSRUWXQLW\ WR UH¿QDQFH before the inevitable rise in rates.

Mortgage rate projections averaged from This has to be measured against last Fannie Mae, Freddie Mac, Mortgage year’s top performers, as the markets Bankers Association (MBA) and National WKDW VRDUHG WKH ¿UVW KDOI RI DUH EHLQJ Association of Realtors (NAR) are: compared to a higher baseline than last 2016 4th Quarter................................4.00% year’s lesser performing markets. First 2017 1st Quarter................................4.08% half 2015 stars were: Cedar Rapids Area 2017 2nd Quarter...............................4.28% – up 21%; Illinois Quad Cities – up 27% 2017 3rd Quarter................................4.37% and the Muscatine/Wilton Area – up 23%.

Buyers can buy more house for the same monthly payment now, than they Months of Inventory will be able to buy in 2017.

14.9

2.7

Galena & Galena Territory

Iowa Quad Cities

Buyer’s Market

Seller’s Market

4-6 months of inventory is considered a balanced market. 0-3 months is a seller’s market and 7 months or more is a buyer’s market. Of course, this also varies by price range, with stronger demand generally in the lower price ranges and weaker demand in the upper price ranges.

Results in all 12 of our Multiple Listing Service (MLS) market areas are shown

Home Prices Still Going Up Home prices continue to appreciate slowly and steadily in our region. See complete chart of appreciation by market on page 4 and percent change in average sales price by market on the Regional Real Estate Activity chart on page 2. % Change in Prices Metropolitan 5 Year Statistical Areas 1 Year Cedar Rapids, IA +1.21% +5.24% Davenport-Moline+1.34% +7.03% Rock Island, IA-IL +0.42% +7.00% Dubuque, IA +3.89% +12.49% Iowa City, IA

2016 Regional Real Estate Activity Through June

Average 2016 Sales Price

% Change in Average Sales Price from 2015

2016 Number Sold

% Change in Number Sold from 2015

$116,100 $173,100 $98,900 $176,700 $177,200 $185,900 $85,800 $117,100 $185,500 $219,200 $137,900 $136,600 $166,300

+5% 0% +10% +16% +8% -4% -6% 0% -2% +11% +6% +6% +4%

469 2,233 223 46 536 72 304 1,040 1,291 1,532 266 228 8,240

-10% +6% -9% -18% +11% +18% +10% -1% +20% +6% -1% +4% +5%

Burlington Area Cedar Rapids Area Clinton/Camanche/Fulton DeWitt Dubuque Area Galena & Galena Territory Galesburg Area Illinois Quad Cities Iowa Quad Cities Iowa City Area Muscatine/Wilton Area Southwest Wisconsin 2016 Regional Total

2016 Sales Volume

% Change in Sales Volume from 2015

Active Listing Count 2016

$54,442,100 $386,591,900 $22,051,000 $8,130,000 $94,987,700 $13,386,900 $26,081,500 $121,738,500 $239,495,100 $335,885,400 $36,677,100 $31,155,700 $1,370,622,900

-5% +6% 0% -5% +20% +13% +3% -1% +17% +18% +5% +10% +10%

490 1,449 291 31 370 389 278 819 602 1,289 171 319 6,498

% Change in Active Listings from 2015

NA -24% +2% -21% -12% -1% -5% -7% -19% -7% -7% +2% -12%*

Months of Inventory

6.1 3.0 6.4 2.2 3.0 14.9 7.4 3.7 2.7 3.7 3.0 6.5

The merger of the Clinton MLS is causing some data to be suspect. The merger of the Burlington MLS has changed the counties we track. *Regional total % change in active listings is based on 2016 totals without Burlington Area (6,008) compared to 2015 totals without Burlington Area (6,839).

Summary of Regional Real Estate Activity Burlington Area Listing Inventory: There are 490 homes and condominiums listed for sale in Burlington, Iowa and the surrounding DUHD 7KLV LV WKH ÂżUVW \HDU ZH KDYH WUDFNHG WKH HQWLUH ÂżYH FRXQW\ DUHD Properties Sold: 10% fewer residential SURSHUWLHV VROG LQ WKH ÂżUVW KDOI RI WKDQ WKH ÂżUVW KDOI RI FRPSDULQJ 520 sales last year to 469 sales in the ÂżUVW KDOI RI WKLV \HDU Average Sales Price: The average sales price was $116,100, a 5% increase from the average sales price LQ WKH ÂżUVW KDOI RI RI Residential Sales Volume: Sales volume was down 5%, a decrease from $57,288,500 through June 2015 to $54,442,100 through June 2016.

Cedar Rapids Area Listing Inventory: There are 1,449 residential properties listed for sale in the Cedar Rapids area, 24% fewer than the same time last year when there were 1,895 properties listed.

Properties Sold: Through June this year, 2,233 properties sold, 6% more than the 2,113 that sold through June 2015.

Average Sales Price: The average sales price was $173,100 through June 2016 comparable to average sales price of $173,000 through June 2015.

Residential Sales Volume: Sales volume increased 6%, from LQ WKH ¿UVW KDOI RI WR 2 • RuhlHomes.com

LQ WKH ÂżUVW KDOI RI

Clinton, Camanche & Fulton Listing Inventory: There are 2% more properties listed for sale in Clinton, Camanche and Fulton; comparing 291 current listings to 285 properties for sale in June last year.

Properties Sold: 9% fewer properties VROG LQ WKH ÂżUVW KDOI RI D GHFUHDVH from 245 sales in 2015 to 223 sales in WKH ÂżUVW KDOI RI Average Sales Price: The average sales price through June 2016 was $98,900, a 10% increase from the average sales price of $89,900 through June 2015.

Residential Sales Volume: Sales YROXPH ZDV ÀDW WKURXJK -XQH IURP LQ WKH ¿UVW KDOI RI 2016 compared to $22,019,200 in the ¿UVW KDOI RI

DeWitt Listing Inventory: DeWitt’s listing inventory is down 21%, from 39 properties listed for sale last year to 31 properties currently on the market.

Properties Sold: 46 properties sold DQG FORVHG GXULQJ WKH ÂżUVW KDOI RI an 18% decrease compared to 56 sales LQ WKH ÂżUVW KDOI RI Average Sales Price: The average sales price of homes sold through June 2016 was $176,700, 16% more than WKH ÂżUVW KDOI RI ZKHQ WKH DYHUDJH sales price was $152,400.

Residential Sales Volume: Sales

YROXPH GHFUHDVHG LQ WKH ÂżUVW KDOI of 2016, from $8,534,000 in 2015 to $8,130,000 in 2016.

Dubuque Area Listing Inventory: There are 370 residential properties listed for sale in the Dubuque region; a 12% decrease from the same time last year when there were 421 properties for sale.

Properties Sold: 11% more properties VROG LQ WKH ÂżUVW KDOI RI DQ LQFUHDVH from 483 closings through June 2015 to 536 closings through June 2016.

Average Sales Price: The average sales price of homes sold through June 2016 was $177,200, an 8% increase over the average sales price of $164,500 through June 2015.

Residential Sales Volume: Sales YROXPH IRU WKH ÂżUVW KDOI RI ZDV $94,987,700, up 20% from the same period in 2015 when sales volume was $79,446,500.

Galena & Galena Territory Listing Inventory: There are 389 properties for sale in Galena, Illinois and Galena Territory; 1% fewer than the same time last year when there were 393 listings.

Properties Sold: There was an 18% increase in the number of residential SURSHUWLHV VROG LQ WKH ÂżUVW KDOI RI comparing 61 sales in 2015 to 72 sales in 2016.

Average Sales Price: The average Summary continued on page 3

Summary continued from page 2

sales price was $185,900 through June 2016, 4% less than last year when the average sales price was $194,000.

Residential Sales Volume: Sales YROXPH ZDV XS IRU WKH ÂżUVW KDOI RI 2016, an increase from $11,825,300 through June 2015 to $13,386,900 through June 2016.

Galesburg Area Listing Inventory: There are 278 residential properties currently listed for sale in the Galesburg area, 5% fewer than 294 this time last year.

Properties Sold: Sales have increased 10% from 277 properties sold through the second quarter of 2015 to 304 through June 2016.

Average Sales Price: The average sales price was $85,800 through June 2016, 6% less than the average sales price of $91,700 through June 2015.

Residential Sales Volume: Sales volume increased 3% through the second quarter of 2016 as compared to 2015, from $25,392,300 to $26,081,500.

Illinois Quad Cities Listing Inventory: The number of properties for sale in the Illinois Quad Cities is down 7%; from 883 listings last year to 819 listings currently on the market.

Properties Sold: Through the second quarter of 2016, 1% fewer properties sold, comparing 1,048 sales through June 2015 to 1,040 sales through June 2016.

Average Sales Price: The average sales price was the same through June 2015 as compared to this year through

June – both at $117,100.

Residential Sales Volume: Sales YROXPH GHFUHDVHG LQ WKH ÂżUVW half of 2016, from $122,677,500 to $121,738,500.

Iowa Quad Cities Listing Inventory: There are 602 homes and condominiums listed for sale in the Iowa Quad Cities, 19% fewer than the same time last year when there were 743 properties for sale.

Properties Sold: 20% more properties sold through the second quarter of 2016, an increase from 1,075 sales in WKH ÂżUVW KDOI RI WR VDOHV LQ WKH ÂżUVW KDOI RI WKLV \HDU Average Sales Price: The average sales price decreased 2%; from $189,800 through June 2015 to $185,500 through June 2016.

Residential Sales Volume: Sales volume went up 17% from $204,068,200 through the second quarter of 2015 to $239,495,100 through the second quarter of 2016.

$284,313,600 through June 2015 to $335,885,400 through June 2016.

Muscatine & Wilton Area Listing Inventory: There are 171 homes and condominiums listed for sale in the Muscatine and Wilton area, 7% fewer than the same time last year when there were 183 properties for sale.

Properties Sold: 1% fewer residential SURSHUWLHV VROG LQ WKH ÂżUVW KDOI RI comparing 268 sales last year to 266 VDOHV LQ WKH ÂżUVW KDOI RI WKLV \HDU Average Sales Price: The average sales price was $137,900, a 6% increase from the average sales price LQ WKH ÂżUVW KDOI RI RI Residential Sales Volume: Sales volume was up 5%, from $35,035,200 through June 2015 to $36,677,100 through June 2016.

Southwest Wisconsin

Listing Inventory: There are 319 properties for sale in the southwest Wisconsin region, a 2% increase compared to the same time last year Iowa City Area when there were 314 listings.

Listing Inventory: The number of Properties Sold: There was a 4% properties for sale in Iowa City is down increase in the number of residential 7%, a decrease from 1,389 in 2015 to SURSHUWLHV VROG LQ WKH ÂżUVW KDOI RI 1,289 properties currently on the market. comparing 220 properties sold in 2015 Properties Sold: 6% more properties to 228 properties sold this year.

Average Sales Price: The average VROG GXULQJ WKH ÂżUVW KDOI RI DQ sales price was $136,600 during the increase from 1,445 sales in 2015 to ÂżUVW KDOI RI KLJKHU WKDQ WKH 1,532 sales in 2016.

Average Sales Price: The average ÂżUVW KDOI RI ZKHQ WKH DYHUDJH sales price was $219,200; an 11% sales price was $128,500.

LQFUHDVH IURP WKH ÂżUVW KDOI RI ZKHQ Residential Sales Volume: Sales volume was up 10%, an increase from the average sales price was $196,800.

Residential Sales Volume: Sales $28,258,600 through June 2015 to volume increased 18%, from $31,155,700 through June 2016.

Home Improvements that Make You Happy Home repairs can be costly, but they FDQ DOVR SURYLGH SOHQW\ RI EHQHÂżWV IRU you and your family. A simple siding replacement of $14,000 can add $8,600 to your resale value. However, we have DOO KHDUG DERXW WKH JUHDW EHQHÂżWV RI resale value when upgrading.

Now, according to surveys released by the National Association of Realtors, we have learned that certain projects can also provide the homeowner with LQWHUQDO EHQHÂżWV DV ZHOO %HFDXVH QRW everything is about the resale value. )RU H[DPSOH D URRÂżQJ UHSODFHPHQW

may only recoup you with 50% of your cost, but it is one of the top projects with the highest satisfaction. Adding a new bathroom, complete kitchen renovation, and a new front door are also projects that come with happiness to the owner.

Who knows? Maybe you’ll end up loving your new and improved home so much, you won’t want to move!

Visit our website at RuhlHomes.com to see homes with updated features, or WR ÂżQG \RXU QH[W SURMHFW WR DFKLHYH KLJK satisfaction!

FIND LICENSED & INSURED VENDORS

AT

Top 12 Projects with the Highest Satisfaction to the Homeowner Add a New Bathroom

Install New Vinyl Siding

Complete a Kitchen Renovation

Install a New Front Door

Create a Master Suite (or En Suite)

Install a New Roof

5HÂżQLVK &XUUHQW Hardwood Floors

Install New Wood Flooring

New Garage Door

Kitchen Upgrade

New Living Area

Install New Vinyl Windows

EDVHPHQW DWWLF FRQYHUVLRQ

Courtesy of National Association of Realtors (NAR) by surveys of homeowners after project completion.

RUHLHOMES.COM/VENDORS! RuhlHomes.com • 3

Homes Appreciating in Our Region Every single local metropolitan area H[SHULHQFHG D SRVLWLYH JDLQ LQ ÂżYH year home appreciation, or the growth LQ YDOXH RI \RXU KRPH RYHU ÂżYH \HDUV Averages ranged between 5.24% and JURZWK ZLWK WKH KLJKHVW ÂżYH year appreciation in Iowa City followed

by Des Moines and the Quad Cities.

Nationally, this is the 19th consecutive quarter where home prices appreciated. )URP WKH ÂżUVW TXDUWHU RI WR WKLV quarter, prices rose 5.7% with every state experiencing positive gains.

With the current growth in appreciation, low interest rates and a strong seller’s market in areas of our region, right now could be an ideal time to consider upgrading to your dream home.

Metropolitan Statistical Areas (MSAs)

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

In the past year, home prices are up: 0.42% in Dubuque; 3.89% in Iowa City; 1.34% in the Quad Cities and 1.21% in Cedar Rapids. This compares to other cities: Des Moines up 4.85% and Chicago, IL up 3.42%. This data is provided by the Federal Housing )LQDQFH $JHQF\ )+)$ IRU WKH ÂżUVW quarter of 2016. “With home appreciation continuing to grow steadily across our region over time,â€? said Caroline Ruhl, President of Ruhl&Ruhl Realtors, “long-term investments in local real estate are a safe bet. Given the current market, we are asking our clients if they are in their forever home. If not, this is the time to take action.â€?

Percent Change in House Prices 1 Year 5 Year

2016 1st Quarter National Ranking of 263 MSAs*

Reg Through June Burlington Area (Southeast Iowa Regional Board of

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 Realt DeWitt (Quad City Area Realtor Assoc.)

Dubuque Area (Dubuque Board of Realtors) Dubuque North, South and West Dubuque Illinois

+1.21%

+5.24%

231

Wisconsin

+1.34%

+7.03%

228

Galesburg Area (Capital Area Association of Realto

+4.85%

+11.74%

120

+0.42% +3.89% +5.67%

+7.00% +12.49% +27.22%

241 147

Galena & Galena Territory (Realtor Assoc. of North

Illinois Quad Cities (Quad City Area Realtor Assoc.

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

,QIRUPDWLRQ FRXUWHV\ RI )HGHUDO +RXVLQJ )LQDQFH $JHQF\ )+)$ IRU ÂżUVW TXDUWHU )+)$ VWDWV DOZD\V UXQ RQH TXDUWHU EHKLQG 7KHLU IXOO UHSRUW is accessible at www.fhfa.gov. *Rankings based on annual percentage change in house prices.

East Moline & Silvis Port Byron, Upper Rock Island County Mercer County

Mid-Year Comparison of Quad Cities Real Estate Activity Sales

Listings

Henry County Condominiums Iowa Quad Cities (Quad City Area Realtor Assoc.)

Davenport Bettendorf & Riverdale

IA

IL

Totals

IA

IL

Totals

Blue Grass, Buffalo, Durant & Walcott

2016

1,291

1,040

2,331

602

819

1,421

LeClaire, Pleasant Valley & Princeton

2015

1,075

1,048

2,123

743

883

1,626

North Scott County

2014

1,059

909

1,968

750

899

1,649

2013

1,140

874

2,014

743

893

1,636

Iowa City Area (Iowa City Area Assoc. of Realtors)

2012

977

840

1,817

934

949

1,883

Iowa City

2011

901

733

1,634

973

1,133

2,106

Coralville

2010

1,064

833

1,897

972

1,067

2,039

2009

884

749

1,633

957

981

1,938

Southeast Iowa City

2008

1,029

907

1,936

1,081

1,079

2,160

Southwest Iowa City

2007

1,171

1,011

2,182

1,108

991

2,099

2006

1,218

1,054

2,272

1,107

985

2,092

Condominiums

2005

1,200

1,102

2,302

960

885

1,845

Muscatine & Wilton Area (Muscatine Board of Real

2004

1,257

1,074

2,331

989

959

1,948

Muscatine

2003

1,139

971

2,110

931

835

1,766

2002

1,137

996

2,133

813

844

1,657

2001

1,154

997

2,151

843

913

1,756

Southwest Wisconsin - Grant & Lafayette Co. (S. C

1,426

7KLV UHSUHVHQWDWLRQ LV EDVHG LQ SDUW RQ GDWD VXSSOLHG E\ WKH 5($/725 $VVRFLDWL The merger of the Clinton MLS is causing some data to be suspect. The merger

2000

1,059

4 • RuhlHomes.com

1,028

2,087

700

726

Miscellaneous Condominiums

Northwest Iowa City Northeast Iowa City

Corridor Area Miscellaneous

Wilton Muscatine Outlying Condominiums

gional Residential Real Estate Activity Current MLS Listings Realtors)

Realtors)

isbon, etc.

or Assoc.)

% of Active Listings

2016 Avg. Sales Price

2016 Sales Volume

2016 # Sold

% of Unit Sales

Sales/ List

2015 # Sold

2015 Avg. Sales Price

2015 Sales Volume

490

$116,100

$54,442,100

469

95%

520

$110,200

$57,288,500

1,449

$173,100

$386,591,900

2,233

98%

2,113

$173,000

$365,558,300

150

10%

170,500

34,960,800

205

9%

97%

168

162,900

27,371,600

160

11%

175,000

58,637,800

335

15%

98%

333

183,800

61,199,600

99

7%

148,000

28,704,500

194

9%

98%

198

143,300

28,373,500

66

5%

138,300

28,072,700

203

9%

98%

168

156,400

26,278,500

30

2%

256,400

10,257,100

40

2%

99%

43

241,300

10,375,100

136

9%

202,800

54,560,700

269

12%

99%

254

202,300

51,396,200

171

12%

162,300

29,864,300

184

8%

96%

186

155,000

28,823,200

195

14%

153,300

32,502,200

212

10%

96%

194

149,000

28,897,300

135

9%

305,300

34,804,900

114

5%

99%

137

286,700

39,274,200

307

21%

155,600

74,226,900

477

21%

101%

432

147,200

63,569,100

291

$98,900

$22,051,000

223

88%

245

$89,900

$22,019,200

31

$176,700

$8,130,000

46

94%

56

$152,400

$8,534,000

370

$177,200

$94,987,700

536

93%

483

$164,500

$79,446,500

248

67%

183,500

77,928,800

425

79%

93%

373

166,700

62,167,100

88

24%

157,800

12,781,700

81

15%

93%

78

154,000

12,011,600

28

7%

147,500

2,802,000

19

4%

92%

27

162,300

4,382,500

6

2%

134,100

1,475,200

11

2%

93%

5

177,100

885,300

hwest IL)

389

$185,900

$13,386,900

72

86%

61

$194,000

$11,825,300

ors)

278

$85,800

$26,081,500

304

94%

277

$91,700

$25,392,300

.)

819

$117,100

$121,738,500

1,040

96%

1,048

$117,100

$122,677,500

175

21%

83,700

16,154,500

193

18%

96%

177

94,900

16,804,700

54

7%

144,600

10,265,400

71

7%

97%

59

148,300

8,746,800

158

19%

113,200

27,621,400

244

23%

96%

249

113,000

28,130,500

47

6%

136,800

10,808,900

79

8%

95%

78

125,700

9,804,300

77

9%

102,600

13,645,900

133

13%

96%

110

101,000

11,105,600

42

5%

187,200

7,298,900

39

4%

95%

45

164,100

7,382,400

71

9%

110,300

7,608,700

69

7%

95%

56

101,000

5,657,300

118

15%

133,800

23,002,900

172

16%

96%

217

125,900

27,323,900

77

9%

133,300

5,331,900

40

4%

93%

57

135,500

7,722,000

602

$185,500

$239,495,100

1,291

98%

1,075

$189,800

$204,068,200

274

46%

139,300

94,998,900

682

53%

97%

550

143,400

78,890,000

127

21%

292,900

82,291,400

281

22%

99%

219

331,400

72,578,800

28

5%

195,100

8,586,400

44

3%

98%

44

146,100

6,426,800

60

10%

249,800

16,989,300

68

5%

98%

59

217,100

12,808,100

19

3%

250,800

14,042,300

56

4%

98%

56

218,200

12,218,200

26

4%

123,700

2,967,800

24

2%

95%

34

116,800

3,971,300

68

11%

144,300

19,619,000

136

11%

98%

113

152,000

17,175,000

1,289

tors)

Central Wis.)

$219,200

$335,885,400

1,532

98%

1,445

$196,800

$284,313,600

284

22%

270,600

99,593,400

368

24%

97%

345

257,900

88,981,500

83

6%

323,900

29,478,600

91

6%

98%

90

304,500

2,740,700

171

13%

290,300

48,777,400

168

11%

99%

156

288,900

45,070,300

29

2%

182,100

7,467,100

41

3%

97%

30

170,100

5,103,800

34

3%

155,800

4,984,500

32

2%

97%

26

150,700

3,917,700

67

5%

165,100

13,540,200

82

5%

98%

78

169,200

13,198,700

63

5%

268,200

14,751,300

55

4%

98%

43

284,300

12,226,400

148

12%

162,500

29,729,000

183

12%

98%

227

178,500

40,522,800

410

32%

33%

99%

450

161,200

72,551,700

96%

268

$130,700

$35,035,200

171

171,000

87,563,900

512

$137,900

$36,677,100

266

98

57%

136,200

24,655,700

181

68%

97%

183

129,000

23,601,300

7

4%

158,000

2,369,600

15

6%

96%

14

153,000

2,141,800

60

35%

135,800

8,149,900

60

22%

94%

59

125,900

7,428,600

6

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150,200

1,501,900

10

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12

155,300

1,863,500

$136,600

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228

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220

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319

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RuhlHomes.com • 5

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2I FRXUVH ORDQ RIÂżFHV DUH DOVR DYDLODEOH WR KHOS E\ SKRQH RU to meet in person if a borrower prefers to meet face to face instead of applying online. Simply call 866-441-1862.

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 6/30/14

Active Inventory 6/30/15

Active Inventory 6/30/16

% Change in Inventory from 2015

Sales 2014

Sales 2015

Sales 2016

% Change in Sales from 2015

163 109 54 57 36 21 6 2 4 104 62 42 249 168 81 579

133 93 40 42 34 8 5 3 2 110 78 32 360 202 158 650

150 84 66 51 38 13 7 6 1 94 63 31 338 165 173 640

+13% -10% +65% +21% +12% +63% +40% +100% -50% -15% -19% -3% -6% -18% +9% -2%

146 85 61 36 36 0 4 3 1 110 89 21 180 116 64 476

157 89 68 30 30 0 5 4 1 112 83 29 177 102 75 481

139 83 56 46 37 9 5 2 3 109 81 28 212 127 85 511

-11% -7% -18% +53% +23% +900% 0% -50% +200% -3% -2% -3% +20% +25% +13% +6%

Quad Cities MLS Statistics - Iowa & Illinois Combined Through June

2012

2013

2014

2015

2016

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

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

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

1,649 $147,200 $289,633,100 1,968

1,626 $153,900 $326,745,700 2,123

1,421 $155,000 $361,233,600 2,331

6 • RuhlHomes.com

% Change 2015 vs. 2016 -12.6% +0.7% +10.6% +9.8%

New Housing Starts Through June 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 Williamsburg, Wellman & Kalona West Liberty Muscatine Area Muscatine Muscatine County Wilton Other Areas Clinton DeWitt Maquoketa, Preston & Bellevue Total Regional Starts

2013 2008

2014

2015

2016

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 3 197 76 20 57 36 7 1 13 2 10 1 10 2 4 4 996

12 7 5 253 153 60 27 13 162 39 7 0 16 10 90 50 5 17 0 4 1 2 12 2 7 202 46 89 30 15 19 3 224 85 15 98 24 2 0 16 2 9 5 23 6 7 10 942

18 7 11 307 161 96 43 7 135 36 1 1 10 4 83 42 8 1 0 1 1 8 10 1 12 191 33 70 40 24 20 4 196 58 13 73 45 5 2 22 8 14 0 21 8 5 8 932

11 11 0 324 153 91 61 19 180 64 0 5 21 8 82 97 66 1 1 3 1 3 17 1 4 242 55 92 33 29 28 5 199 80 12 57 42 5 3 18 3 15 0 22 9 6 7 1,093

% Change 2015 vs. 2016 -39% +57% -100% +6% -5% -5% +42% +171% +33% +78% -100% +400% +110% +100% -1% +131% +725% 0% +100% +200% 0% -63% +70% 0% -67% +27% +67% +31% -18% +21% +40% +25% +2% +38% -8% -22% -7% 0% +50% -18% -63% +7% 0% +5% +13% +20% -13% +17%

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New Home Sales Strengthen as Overall Inventory Stabilizes An expected upturn in new home sales, as reported by the Multiple Listing Services (MLS), has resulted in a 6% year-to-date (YTD) increase in unit sales vs. the same time last year. House sales rose 7% while condo sales were up 5%.

These sales increases took place as regional house inventories dropped 13% while condo inventories jumped by 18%.

Based upon YTD sales, we now have about a 6 month inventory of houses and a 9 month supply of condos. These ¿JXUHV YDU\ JUHDWO\ E\ ORFDOH DV FDQ EH seen in detail in the chart on page 6. New housing starts can be found to the left.

New home sales prices have trended upward in the past year, likely associated with a large drop in available spec inventory at lower price points for all products. A comparison of price breakdowns for new house and condo sales follows: Houses: YTD 2016 YTD 2015 Below $300K 34% 44% $300 - $400K 43% 32% Above $400K 23% 24% Condos: YTD 2016 YTD 2015 Below $200K 43% 66% $200 - $300K 43% 29% Above $300K 14% 5% While ranch style homes remain the regional preference, multi-level and other more cost effective styles are making inroads in our larger markets - dictated by smaller lots and higher building costs. New homes accounted for about 1 in every 11 sales across the region so far this year.

Following is a brief summary of activity: CEDAR RAPIDS: This market has seen a drop of 11% in sales (largely in condos), while inventory has risen by 13% (largely in condos). The 4 Quadrants area has experienced a 33% drop in sales YTD, with both house and condo sales down.

Marion/Hiawatha/Robins sales grew by nearly 16% and has experienced a 91% increase in condo inventory since the same time last year.

DUBUQUE: With a unit sales increase of 53% YTD and inventory levels 21% higher than a year ago, Dubuque seems poised to erase a tough year in 2015. Nine new condos have been sold YTD vs. none at this point in 2015. Dubuque’s strongest New Home Sales Strengthen continued on page 8 RuhlHomes.com • 7

Corporate Relocation Center 5403 Victoria Avenue, Suite 100 Davenport, IA 52807 RETURN SERVICE REQUESTED

New Home Sales Strengthen continued from page 7

price point is between $300-400K, with 73% of local house sales coming at that level, compared with 40% for the rest of the region.

IOWA CITY: Inventory has dropped 6% from this point last year; however, total sales have increased 20%, with houses and condos both showing positive gains.

The most dramatic shifts this year are LQ WKH &RUDOYLOOH 7LIÂżQ VHJPHQW ZKHUH

condo sales are up 363%, and the North Liberty area, where condo sales are down by 73%.

QUAD CITIES: This market has seen both sales and inventory levels decline this year.

A 3% drop in sales has been accompanied by a 12% reduction in inventory levels (15% in houses). While Scott County has recorded 40% of the region’s house sales above $400K, that market is down about 12% locally vs. 2015.

The

It appears that the regional antidote for rising costs of land, development and construction is a combination of smaller lot and house sizes along with more costeffective styles, innovative designs and products. We should not lose sight of the fact that the “cost of ownershipâ€? of newer, PRUH HIÂżFLHQWO\ FRQVWUXFWHG DQG EHWWHU designed housing really helps offset increases in purchase price. And – did we mention – interest rates are still really low!

way to a new

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Leslie Roland Realtor Moline Office 1701 52nd Avenue Moline, IL 61265 (309) 644-2774 LeslieRoland@ruhlhomes.com LeslieRoland.RuhlHomes.com

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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