January 4, 2012
CEDAR RAPIDS – Even with Jack Frost nipping at our nose – the Cedar Rapids real estate market is still warming up.
Homes pending in November, meaning those real estate transactions that have a contract signed but have not closed, are up 3% this month compared to November 2011. Pending sales are a good predictor of the market one or two months from now, as a percentage of those sales end in closed transactions.
“This increase in pendings shows us that the uptick we saw in 2012 is going to continue into the New Year,” said Caroline Ruhl, President of Ruhl&Ruhl REALTORS. “We were fortunate to not have the huge downturn in the Cedar Rapids real estate market suffered by others and we are lucky that we are already back on track from the dip we had.”
Here’s what else is happening in the Cedar Rapids real estate market:
Cedar Rapids Area – November
This month compared to the same month a year ago:
- Number sold was down 18.3% – from 300 to 245
- Number of pendings was up 3% – from 266 to 274
- Number of current listings for sale were up 2.6% – from 1,990 to 2,042
- Average sales price of properties sold was up 3.2% – from $157,000 to $162,000
- Days on market was up 13.3% – from 75 to 85
This month compared to last month:
- Number sold was down 31.9% – from 360 to 245
- Number of pendings was down 12.7% – from 314 to 274
- Number of current listings for sale were down 4.4% – from 2,136 to 2,042
- Average sales price of properties sold was down 3% – from $167,000 to $162,000
- Days on market was up/down 2.4% – from 83 to 85
About Trendgraphix, Inc.
Trendgraphix, Inc is a real estate reporting company based in Sacramento that uses local MLS data to provide highly-visual market statistical graphs to real estate brokers, agents, and MLS/Realtor associates across the USA.
A family-owned company since 1862, Ruhl&Ruhl REALTORS has grown to more than 290 sales associates, 58 employees and eleven offices, selling more than 4,300 homes in eastern Iowa, western Illinois and southwestern Wisconsin. The company has residential sales offices in Bettendorf, Burlington, Cedar Rapids, Clinton, Davenport, DeWitt, Dubuque, Iowa City, Maquoketa and Cedar Rapids, Iowa; and in Moline, Illinois. In addition to residential sales, the company offers services in relocation, property management, real estate investments, new home sales, land development, farm sales, senior services, home vendor services, insurance services through the Nelson Brothers Agency and mortgage services through 1862 Mortgage. For more information on Ruhl&Ruhl REALTORS, visit their website at www.RuhlHomes.com.