Summary continued from page 2
from $3,566,400 through March 2015 to $2,759,000 in March 2016.
Galesburg Area Listing Inventory: There are 161 residential properties currently listed for sale in the Galesburg area. This is a 44% decrease from last year when there were 287. Properties Sold: Sales have decreased 15% from 87 properties sold through March 2015 to 74 through March 2016. Average Sales Price: The average sales price was $83,500 through March 2016, 6% more than the average sales price of $78,500 through March 2015. Residential Sales Volume: Sales YROXPH GHFUHDVHG LQ WKH ÂżUVW quarter of 2016, from $6,825,900 to $6,176,800.
Illinois Quad Cities Listing Inventory: The number of properties for sale is down 10% from the same time last year; a decrease from 817 listings to 735 listings currently. Properties Sold: ,Q WKH ÂżUVW TXDUWHU of 2016, 6% fewer properties sold, comparing 379 sales through March 2015 to 355 sales through March this year. Average Sales Price: The average sales price increased 11% from $104,700 through March 2015 to $116,200 through March 2016. Residential Sales Volume: Sales YROXPH LQFUHDVHG LQ WKH ÂżUVW quarter of 2016, from $39,671,400 to $41,249,300.
Iowa Quad Cities Listing Inventory: There are 570 homes and condominiums listed for sale in the Iowa Quad Cities, a 10% decrease from the same time last year when there were 632 properties for sale. Properties Sold: 15% more properties VROG GXULQJ WKH ÂżUVW TXDUWHU RI DQ increase from 414 sales to 477 sales. Average Sales Price: There was no statistical change in average sales price from $180,000 through March 2015 to $180,200 in March 2016. Residential Sales Volume: Sales volume went up 15%, from $74,506,200 LQ WKH ÂżUVW TXDUWHU RI WR LQ WKH ÂżUVW TXDUWHU RI
Iowa City Area Listing Inventory: There are 3% fewer properties for sale in the Iowa City area, comparing 1,356 listings in 2015 to 1,310 properties currently on the market. Properties Sold: Sales have decreased 5%, from 457 properties sold through WKH ÂżUVW TXDUWHU RI WR VDOHV closed through March 2016. Average Sales Price: There was a 4% increase in the average sales price of KRPHV VROG LQ WKH ÂżUVW TXDUWHU RI comparing a sales price of $199,900 in 2015 to $207,900 in 2016. Residential Sales Volume: Sales volume decreased 4%, from $93,938,400 through March 2015 to $89,795,800 through March this year.
Muscatine & Wilton Area Listing Inventory: There are 185
properties listed for sale in the Muscatine and Wilton area, 14% more than at the same time in 2015 when there were 162 properties for sale. Properties Sold: There were 10% fewer residential properties sold in the ÂżUVW TXDUWHU RI FRPSDULQJ VDOHV ODVW \HDU WR VDOHV LQ WKH ÂżUVW quarter of 2016. Average Sales Price: The average sales price was $127,900 through March 2016, a slight decrease from the DYHUDJH VDOHV SULFH LQ WKH ÂżUVW quarter of 2015. Residential Sales Volume: Sales volume was down 10%, a decrease from $13,821,800 through March 2015 to $12,408,900 through March 2016.
Wisconsin (Southwest) Listing Inventory: There are 252 properties for sale in the southwest Wisconsin region, 28% fewer than the 352 properties listed for sale at the same time in 2015. Properties Sold: 7% more properties VROG GXULQJ WKH ÂżUVW TXDUWHU RI DQ increase from 68 sales in 2015 to 73 sales in 2016. Average Sales Price: The average sales price of homes sold through March 2016 was $113,100, 2% less than the average sales price of $115,700 through March 2015. Residential Sales Volume: Sales volume increased 5%, from $7,869,000 LQ WKH ÂżUVW TXDUWHU RI WR LQ WKH ÂżUVW TXDUWHU RI
Home Prices Appreciate between 4.25% & 10.14% in the Last Five Years Home prices have appreciated in our area with all of our markets showing positive gains in both the one-year and ÂżYH \HDU SHUFHQW FKDQJH DFFRUGLQJ WR the Federal Housing Finance Agency (FHFA). Of course, appreciation varies by neighborhood and price range. Nationally, house prices have risen for 18 consecutive quarters. FHFA Principal Economist Andrew Leventis said that housing growth remained steady despite the instability LQ WKH ÂżQDQFLDO PDUNHWV (VSHFLDOO\ LQ our region, this steady gain over time makes real estate a safe, and smart, investment. In the past year, home prices are up: 2.59% in Dubuque; 4.15% in Iowa City; 1.08% in the Quad Cities and
Metropolitan Statistical Areas (MSAs)
Cedar Rapids, IA Davenport-MolineRock Island, IA-IL Des MoinesWest Des Moines, IA Dubuque, IA Iowa City, IA USA
Percent Change in House Prices 1 Year 5 Year
2015 4th Quarter National Ranking of 266 MSAs*
+1.58%
+4.25%
234
+1.08%
+4.73%
250
+4.25%
+9.71%
148
+2.59% +4.15% +5.80%
+9.21% +10.14% +22.85%
200 150
,QIRUPDWLRQ FRXUWHV\ RI )HGHUDO +RXVLQJ )LQDQFH $JHQF\ )+)$ IRU IRXUWK TXDUWHU )+)$ VWDWV DOZD\V UXQ RQH TXDUWHU EHKLQG 7KHLU IXOO UHSRUW LV DFFHVVLEOH DW ZZZ IKID JRY 5DQNLQJV EDVHG RQ DQQXDO SHUFHQWDJH FKDQJH LQ KRXVH SULFHV
1.58% in Cedar Rapids. This compares to other cities: Des Moines up 4.25% and Chicago, IL up 4.31%. This data is provided by FHFA for the fourth quarter of 2015. “With home appreciation percentages continuing to grow steadily across our
region over time,� said Caroline Ruhl, president of Ruhl&Ruhl Realtors, “long-term investments in local real estate are a safe bet, especially as our communities are historically insulated from the highs and lows of the national housing market.�
RuhlHomes.com • 3