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What’s the 2012 Quad City Housing Market Like?

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A couple times a week, I like to scour the web for information pertaining to real estate. I typically focus on Quad City homes, but I also read a lot about Midwest homes and the national market. I have found some of the best locations to find information about local real estate are broker companies. For example,  in the Quad Cities this would be, Why USA, Iowa Realty, Remax, Mel Foster, and Ruhl & Ruhl.

According to Ruhl Homes summer 2012 report, which compared the first 6 months of ’12 to the first 6 months of ’11, homes sales ARE UP! To be more specific, Iowa Quad Cities sales are up 21% and the Illinois Quad Cities are up 18%. This is good news for anyone trying to sell their home. With the unemployment decreasing and interests rates dropping like a rock, this trend makes sense and it is real, not some phenomenon.  There are many first time home buyers, investors, and young families looking to expand their square footage.

Ruhl Homes also cites that the average home in the Iowa QC has a sales price of $173,500 and Illinois QC is $107,200, both of which are up from last year. What I found to be most interesting is the supply. Both Iowa and Illinois houses listed for sale are down, 4% and 16% respectfully. If this trend continues, then you can expect the market to slowly sway from a buyer’s to a seller’s market. I doubt this will happen overnight, and it could take years. If you are looking to sell or buy, the time is right. Low interest rates and a lower supply will have both sellers and buyers on the move as we enter 2013.

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