Dubuque Real Estate Market Analysis – March 25th, 2009
This week’s Dubuque Real Estate market shows a gain in available inventory, though we didn’t categorically gain in the overall listed number of homes – we did have a sizeable jump in the number of listings available (up fourteen) as our pending sales numbers have dropped by a nearly equal amount (down sixteen).
The National Association of Realtors stresses the pending sales total as a measure of how the current market is doing. I personally would have expected the local pending sales total to higher at this point in the year. Perhaps our lingering winter and early spring weather is dampening further sales. A further analysis shows that the price range having the most difficulty is those homes listed OVER $200,000. While homes priced over $200K account for 42% of all available listings, that same price range accounts for only 17% of pending home sales.
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Current Market Listings Status & Supply Figures
Current Total Listings: 418 ( - 2 )
Active/Available Listings: 350 ( + 14 )
Pending Sold Listings: 68 ( - 16 ) or 16.3 % of Current Market ( - 3.7% )
Dubuque Area Sales Previous 12 Months: 737 ( + 13 ) or 61.4 Homes Sold per month ( + 1.1 )
Supply of Homes: 5.7 Month Supply ( + 0.1 )
Percentage Selling Per Month: 17.5% ( - 0.5% )
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Rolling Twelve Months Total Sales & Averages
This Year: 737 Sales ($146,847 avg. – avg. down 2.9% from previous yr.)
One Year Ago: 880 Sales ($151,279 avg. - avg. up 3.4% from previous yr.)
Two Years Ago: 1003 Sales ($146,362 avg. – avg. up 4.5% from previous yr.)
Three Years Ago: 959 Sales ($140,126 avg. – avg. up 7.6% from previous yr.)
Four Years Ago: 914 Sales ($130,176 avg. sale price)
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