Now that we can put the wraps on the 2011 Dubuque real estate market, it’s time to see just how well we’ve done. While national headlines torment us with tales of real estate woe and unemployment, I’m here to let you know that Dubuque is not doing all too bad.
Just like with NFL quarterbacks, they say consistency is the key to victory – consistently GOOD performances win the game. In Dubuque, we’re now three years into a good, yes consistent, real estate market. With Dubuque unemployment hovering around the 5.0% mark, most folks in town have a fair to good job and can own a home…
In an uncanny coincidence, sales of homes in the Dubuque area have pretty much matched the performance of the previous two years, selling 787 total homes in 2011 vs. selling 785 in 2010 and again 787 in 2009. We’re talking here about the total number of residential home sales in the three Dubuque zip codes of 52001, 52002, & 52003. To the first chart…
And…the average sales prices of those three years have been pretty steady as well. The average Dubuque home sales price in 2011 was $158,055, following averages of $155,255 and $154,869 in 2010 & 2009, respectively. As a side note – average sales price does not directly reflect overall average home values – that is a post for another day (maybe tomorrow!). Here are a few graphs I cooked up (pun intended!)…
And finally, let’s take at a quick look at a break down of how individual price ranges have performed over the last few years…
I wouldn’t say there’s anything really profound in the break down of sales per price range over the last few years. It’s simply interesting to see how the various price ranges performed year after year…
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Knowing all these things details from 2011, I can say indeed it’s not that all too bad. The recovering economy is still struggling but improving. Good luck for 2012. More sales!
I agree, even though the economy is still pretty rough in almost all areas, it’s clear there’ve been quite a few folks who’ve been holding off on a purchase or sell of a home and who now are getting antsy about no longer putting things off…especially if interest rates are still low, knowing they but could start ticking north again.
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