New Year – NEW LISTINGS! … (& price changes)
Now that we’re emerged from the 2009 holiday season and the usual lull in action in the real estate market, it’s time to review exactly what did occur in the Dubuque real estate marketplace recently. Dubuque, like most real estate markets, experiences a slower level of activity during the holidays. In addition to the severe lack of new listings and price changes, we’ve had our annual end-of-year market purge with a whopping 69 homes leaving the market either as expired or withdrawn listings. Just last week the Dubuque market (zips 52001, 02, & 03) posted a 4.8 month supply of homes. Now that a large number of listings have also gone away, we stand even lower at a 4.3 month supply of homes.
If no other homes arrive to market, we’ll be out of homes to sell by the second week in May!
What’s it all mean? Well, if you’re planning on selling in Dubuque anytime soon, it’s time to get in the game. With so few competing listings out there, you stand a much better chance, in percentage terms, of being chosen by a buyer for an offer to purchase. Pretend you’ll be listing for $149,900. As of this writing there are sixteen other listings within a $20,000 range surrounding your list price. That may sound like a lot, but at the usual heighth of the selling season in April or May, you could be fighting off as many at 3o or 40 other listings for the buyers’ attention. Granted, there are fewer buyers in the market in the winter. However, if you know you’re going to be selling, wouldn’t you rather take your chances against fewer selling opponents in this early part of 2010?
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Dubuque Area Listings Activity Dec. 16th to Jan. 3rd
New Listings: 17
Price Changed Listings: 20
Listings Pending Sale: 28
Listings Withdrawn or Expired: 69
Listings Sold: 45
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New Listings & Price Changes posted to the Dubuque area (Iowa & Illinois) MLS (Multiple Listing Service). Click the links or pictures below to view the summaries for New Listings and Price Changes.
New Listings $100K to $200K (8)
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Price Change Listings Under $150K (9)
Price Change Listings Over $150K (9)