January 2, 2012
QUAD CITIES – Even though Jack Frost is nipping at our nose – the Quad Cities real estate market is still hot and churning even more.
Homes pending in November, meaning those real estate transactions that have a contract signed but have not closed, are up 18.7% 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 in sales 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 Quad Cities 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 Quad Cities real estate market:
Quad Cities Area – November 2012
This month compared to the same month a year ago:
- Number sold was up 2.1% – from 281 to 287
- Number of pendings was up 18.7% – from 235 to 279
- Number of current listings for sale were down 17.1% – from 1,833 to 1,520
- Average sales price of properties sold was up 2.2% – from $138,000 to $141,000
- Days on market was up 1.6% – from 62 to 63
This month compared to last month:
- Number sold was down 18.4% – from 352 to 287
- Number of pendings was down 16.7% – from 335 to 279
- Number of current listings for sale were down 5.8% – from 1615 to 1520
- Average sales price of properties sold was down 7.2% – from $152,000 to $141,000
- Days on market was down 1.5% – from 64 to 63
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 Muscatine, 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.