IOWA, USA —
Iowa's housing market broke record after record this summer. But after all that heating up, it looks like things are slowly cooling down.
Here are five things to know if you're planning on buying or selling a home in the next few months.
1: What should you do if you are a seller?
"Homes are still selling very fast relative to normal standards. You know, typical market, 60 days to 90 days is not unusual for an average days on market. Right now, we're at about five days," said Ted Weaver, a realtor based in West Des Moines. "So, you know, it isn't necessarily selling in the first day. But certainly if you're priced appropriately, you can sell within the first week."
2: For buyers, you're still gonna have to pick through the small inventory of homes.
"Normally we'd be somewhere in that 3,500 to 4,000 homes on the market in the entire metro. That's everything ... new construction, resales, townhomes, condos, single-family homes," Weaver said. "Back in May, we were at about 1,600. And as of this month, we're right around 2,200."
3: It's still way better to be a seller than a buyer as we head into the fourth quarter of 2021.
4: Don't skimp on inspections or enlisting a real estate agent for help.
"You need a professional realtor to help you set that appropriate market value price for your home," Weaver said. "On the buyer side, homes are still moving quickly ... and so you need to be prepared, you need to have a gameplan going in when you're doing your search, you need to be pre-qualified with a good, local lender."
5: You can still do virtual showings, but they're starting to dwindle
Do you have a question about the central Iowa real estate market? Send us an email or text us at 515-457-1026!
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