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) 

As with all RiverBankstoCornFields.com posts, your comments and questions are encouraged and welcomed below…

Dubuque Real Estate Market Analysis – March 8th, 2009

Current Total Listings: 410 ( no change )

Active/Available Listings: 325 ( + 2 )

 Pending Sold Listings: 85 ( - 2 )  or 20.7 % of Current Market  ( - 0.5% )

Dubuque Area Sales Previous 12 Months: 725  ( - 2 ) or 60.4 Homes Sold per month ( - 0.2 )

Supply of Homes: 5.4 Month Supply ( + 0.1 ) 

Percentage Selling Per Month: 18.8% ( - 0.1% ) 

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This Year: 725 Sales ($146,310 avg. – avg. down 2.9% from previous yr.)

One Year Ago: 892 Sales ($150,627 avg. - avg. up 2.8% from previous yr.)

 Two Years Ago: 1016 Sales ($146,585 avg. – avg. up 5.3% from previous yr.)

Three Years Ago: 963 Sales ($139,219 avg. – avg. up 7.4% from previous yr.)

Four Years Ago: 897 Sales ($129,615 avg. sale price)

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Dubuque Real Estate Market Analysis – February 22nd, 2009

This week’s analysis of the current Dubuque real estate market shows a slight contraction in overall inventory, down in both Total Listings and Available Listings.  This brings our current supply of homes down to A 5.3 month supply of available homes.  As you may have noticed in the previous Dubuque MLS Week in Review we posted a few more sales this last week than previous weeks.  Though, do take note, the average sales prices are skewing to the lower side of the price scale, rolling back our current twelve month average sales price to $146,378.

Current Total Listings: 409 ( - 9 )

Active/Available Listings: 318 ( - 6 )

Pending Sold Listings: 91 ( - 1 )  or 22.2 % of Current Market  ( +0.2% )

Dubuque Area Sales Previous 12 Months: 721  ( + 3 ) or 60.1 Homes Sold per month ( + 0.3 )

Supply of Homes: 5.3 Month Supply ( – 0.1 ) 

Percentage Selling Per Month: 18.9% ( + 0.5% )

 Past One Year: 721 Sales ($146,378 avg. – avg. down 3.0% from previous yr.)

Two Years Past: 907 Sales ($150,929 avg. - avg. up 3.7% from previous yr.)

Three Years Past: 1019 Sales ($145,604 avg. – avg. up 4.2% from previous yr.)

Four Years Past: 956 Sales ($139,787 avg. – avg. up 8.6% from previous yr.)

Five Years Past: 905 Sales ($128,758 avg. sale price)

Dubuque Real Estate Market Analysis (February 12th, 2009)

     Quick analysis of the numbers this week shows a slight increase, again, in our overall listed inventory.  However, that entire increase amount, plus two other listings, went under contract this week, leaving less actual inventory available for those buyers still out on the prowl.

     A nice reverse trend I’ve noticed is how our current rolling 12 month rolling record of sales has actually gained ground against the previous 12 months.  The Dubuque market had consistantly over the last two months or so had been trailing by over 200 homes sold against the prior 12 months. Now we’re down to all of 190 sales short of the prior year.  Not exactly a harbinger of a complete turnaround, but the trend is going in the right direction.

Current Total Listings: 418 ( + 8 )

Active/Available Listings: 326 ( - 2 )

Pending Sold Listings: 92 ( + 10 )  or 22.0 % of Current Market  ( +2.0% )

Dubuque Area Sales Previous 12 Months: 718  ( n/c ) or 59.8 Homes Sold per month ( n/c )

Supply of Homes (months): 5.4 Month Supply ( – 0.1 ) or 18.4% per month ( + 0.2% )

Past One Year: 718 Sales ($147,573 avg. – avg. down 2.1% from previous yr.)

Two Years Past: 908 Sales ($150,741 avg. - avg. up 3.2% from previous yr.)

Three Years Past: 1029 Sales ($146,124 avg. – avg. up 4.9% from previous yr.)

Four Years Past: 944 Sales ($139,271 avg. – avg. up 8.7% from previous yr.)

Five Years Past: 911 Sales ($128,097 avg. sale price)

As always, I encourage your comments and questions about Dubuque real estate, join in the conversation in the comments section below…

Dubuque Real Estate Market Analysis (February 5th, 2009)

We’ve got increases this week in both the total number of listings (410) as well as the number of homes having gone under contract (82), reflecting the increased activity in Dubuque’s real estate market.  Folks are seeing signs of spring around the corner and activity is definitely on the rise.

I’d like to explain the Supply of Homes figure below.  Supply of Homes simply tells us whether we are currently in a “buyer’s market” or a “seller’s market”.  If there is more than a six month supply of available homes, that is known as a buyer’s market, meaning there are more homes in supply than buyers actively searching for homes to purchase.  Conversely, if we have less than a six month supply of homes that would be known as a seller’s market – more buyers in the market than available homes to purchase.

How do we figure the number? Easy.  The local Dubuque market sold 718 homes in the last full year, a rate of 59.8 sales per month.  The current amount of available homes is 328 homes.  We divide the number of availalbe homes (328) by the rate of sales per month (59.8) to reach a figure of  5.5 month supply of homes, meaning that, at current market activity levels, it would take the current supply of homes 5.5 months to sell out of the market.  If there were 428 homes available for sale today that would bring our supply figure up to a 7.2 month supply of homes, solidly a buyer’s market. 

The numbers do change on a daily basis - it’s always very intersting to watch the trends over time.  This winter we hit as low as a 5.2 month supply of homes, while only as recently as August ’08 we had a 7.0 month supply of homes in Dubuque’s market.

Current Total Listings: 410 ( + 21 )

Active/Available Listings: 328 ( + 3 )

Pending Sold Listings: 82 ( + 18 )  or 20.0 % of Current Market  ( +3.5% )

Dubuque Area Sales Previous 12 Months: 718  ( +4 ) or 59.8 Homes Sold per month ( + 0.3 )

Supply of Homes (months): 5.5 Month Supply ( n/c ) or 18.2% per month ( – 0.7% )

Rolling Twelve Month Dubuque Sales Posted

Past One Year: 718 Sales ($147,896 avg. – avg. down 2.2% from previous yr.)

Two Years Past: 914 Sales ($151,151 avg. - avg. up 4.0% from previous yr.)

Three Years Past: 1030 Sales ($145,400 avg. – avg. up 3.9% from previous yr.)

Four Years Past: 936 Sales ($139,942 avg. – avg. up 9.5% from previous yr.)

Five Years Past: 918 Sales ($127,773 avg. sale price)

Dubuque Market Inventory Analysis (January 25th, 2009)

Current Total Listings: 389 ( + 16 )

Active/Available Listings: 325 ( + 7 )

Pending Sold Listings: 64 ( + 9 )  or 16.5 % of Current Market  ( + 1.8% )

Dubuque Area Sales Previous 12 Months: 714  ( – 7 ) or 59.5 Homes Sold per month ( – 0.6 )

Supply of Homes (months): 5.5 Month Supply ( + .2) or 18.9% per month ( no change )

Twelve Month Dubuque Sales Posted

Past One Year: 714 Sales ($148,084 avg. – Down 2.1% from previous)

Two Years Past: 925 Sales ($151,336 avg. - Up 4.0% from previous)

Three Years Past: 1023 Sales ($145,502 avg. – Up 4.0% from previous)

Four Years Past: 929 Sales ($139,922 avg. – Up 10.0% from previous)

Five Years Past: 918 Sales ($127,154 avg.)

As with any post, your comments and questions are encouraged…

Though we’re actually past Monday morning, I still wanted to make what I intend to be a regular post on RiverBankstoCornFields.com.  Those who know me well, know that I am a maven for stats and their interpretation. 

In sending out regular e-newsletter updates for the last three years, I make a reporting on the Dubuque MLS (Multiple Listing Service) stats about home listings and sales a regular feature.  So, without too much further ado, I give you the Monday Morning Dubuque MLS Stats.

Current Dubuque Market Inventory Analysis

Current Total Listings: 365

Active/Available Listings: 313

Pending Sold Listings: 52 (14.2 % of Current Market)

Dubuque Area Sales Previous 12 Months: 723 (60.3 Homes per month)

Current Supply of Homes (in months): 5.2 Month Supply (19.2% selling per month)

Dubuque Available vs. Pending and Trying to Sell vs. Selling

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Twelve Month Dubuque Averages For Sales Posted

Past One Year: 723 Sales ($147,730 avg. – Down 2.2% from previous)

Two Years Past: 928 Sales ($151,063 avg. - Up 3.0% from previous)

Three Years Past: 1019 Sales ($145,457 avg. – Up 4.1% from previous)

Four Years Past: 929 Sales ($139,741 avg. – Up 9.6% from previous)

Five Years Past: 926 Sales ($127,541 avg.)

Dubuque Year on Year Sales Totals and Year on Year Average Sale Prices