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Quad Cities Real Estate Market


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A couple weeks ago I wrote a blog informing residents of Davenport, Bettendorf, Moline, Rock Island, and surrounding areas like Eldridge and Andalusia about how good the housing market has been doing. The only “problem” with the market is supply is down and continues to stay low. BUT this does help out the seller. With more people looking to buy homes and fewer on the market the sold price has gone up. I found you evidence of what the sold price looks like over the past three years.

Iowa Association of Realtors, which reports on half of the Quad Cities real estate market, published the inset graphic. We have known the supply for houses is down in the area and based on the simple concept of supply vs. demand we assumed prices have raised some. Boy was I wrong. Don Marple, president of the Iowa Association of Realtors® said, “Both median and average sale prices rose significantly in February, likely due to reduced inventory levels.” Don also highlighted the increased sold price vs. list price, which stands at 94.6%. This ratio indicates sellers are receiving offers that are closer to their asking price than in 2011 and 2012, both of which were at 93.4%.

Keep these trends in mind when pricing your own home. Don’t get a swollen head either. Thinking your house will sell for $200,000, when in reality it is only worth what someone is willing to pay for it, but is only worth $125,000 can lead to your home losing interest quickly and staying on the market much longer than the average of 104 days.

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