Indianola Market Stats
Everyone asks, "How is real estate?" My answer? "We don't have enough listings?
Taking a look at 2016's sales data, we found that an estimated 266 homes were sold in the Indianola market, based on statistics from the Des Moines Area Association of Realtors. This number represents the number of residential sales through a real estate broker in the Indianola market. It does not account for private sales, which in many years, account for roughly 15% of all residential sales.
The total number of homes sold in 2016 is almost equal to 2014 and slightly less than the number sold in 2015. The average number of days on market for 2016 is in the normal range for each of the price ranges reflected in the chart above.
A normal real estate market includes, on average, a six month inventory. Nationally there was only a 4 month supply last November. Based on 2016 sales, the Indianola market should have roughly 120 - 135 active listings. This number would move the market from a 'Sellers' market to a "Buyers' market, where buyers would have sufficient choices as they search for their next house.
In today's Indianola market, there are only 38 active listings, which means it is definitely a "Sellers" market. A house that is priced right and does not need much additional work is going to sell quickly, at little to no reduction in price. At times, two or more buyers appear at the same time, which can increase the listing price instead of negotiated reductions.
The one positive note in the current Active statistics is the increased number of New Construction listings currently on the market. When these are completed and sold, it will open up existing homes for sale and add to the number of active listings on the market.
The Indianola Market needs more new construction to bring the market back to 'normal' standards based on the number of listings. This will require more development options in our community, something our City planners are working hard to create.
Who do you know that is moving? Contact EXIT Realty North Star and
Chart Your Next Move with Us!
Terry Pauling is a Broker & REALTOR® at EXIT Realty North Star, 222 W Salem Ave. Indianola, IA 50125. We provide full-service real estate services to the Indianola, Warren County and Des Moines, Iowa metro areas. Find Links and contact information for Terry at www.exititown.com. (C) 515-249-9192
To download my mobile business card Text: EXITitown To: 85377