Market Statistics for July 2015

See the charts below for the most up-to-date market statistics for southwest Iowa.

The southwest Iowa market statistics for July are impressive. As you can see in the first chart, homes are selling nearly twice as fast this year in July than compared to last year! A home in this area is averaging only 48 days on the market. That is a fast sale especially for the Midwest.

The second chart shows us that July of 2015 was a record breaking month when it comes to how quickly homes are selling. Making it the fastest turn around since at least July of 2012. All of this data represents a seller's market full of fast-moving and ready buyers!

A summary of the city specific data above shows the average number of days a Council Bluffs home was on the market in July was 41.9 days and 38.8 days for homes in Glenwood. Homes in Carter Lake and Crescent are selling in under 34 days!

The median sales price for the entire market has increased this year by nearly $7,000 which is great news for most homeowners in the area. It means that their real estate investment is increasing. Council Bluffs homes saw an average increase of over $17,000 in their sales price. Overall, Glenwood actually saw a decrease from last year of over $14,000.

A lot of factors are in play in the market which affect the average sales price. Be sure to speak with one of our knowledgeable Realtors to get specific information regarding your property and needs.

Data sourced from Iowa Association of Realtors
 

National Garage Sale Day 2015

You’ve almost finished sifting through those long-abandoned knickknacks — er, treasures — in the basement, right? Are the signs all ready to go? How about the price tags?

Surely, you haven’t forgotten that National Garage Sale Day is this Saturday.

Yep, on Aug. 8th — National Garage Sale Day is always the second Saturday in August — we celebrate the coming together of those with belongings they no longer want and those with a want for belongings they don’t have.

Make no mistake: Garage sales are big business — even if the average selling price of goods at such events is a mere 85 cents.

Take 85 cents here and 85 cents there, and, pretty soon, you have $4,222,375. That’s the total revenue that U.S. garage sales generate each week, according to the website StatisticBrain.com.

Make sure you pay attention these important tips:

Cash: Keep a bunch of coins and small denomination bills handy. You never want to lose a sale simply because you cannot break a $5 bill.

Advertise: Ads should be placed in local newspapers and on websites five or six days before the sale. Neighborhood signs should be eye-catching, simple and, above all, readable. Use words like, "HUGE SALE" with an arrow.

Scheduling: Schedule your garage sale to coincide with a local event that’s likely to generate extra traffic near your home.

Item Placement: Place the items with the broadest appeal close to the street to grab attention and lure potential buyers up the driveway.

Clothing: Sort clothing into categories — by gender, season and age group, for example — and display those items, if possible, on hangers.

Mirrors: Keep a mirror handy if you’re selling accessories.

Power Up: Place fresh batteries in items that require them and keep a power source handy so shoppers can try out electronics and other plug-in appliances.

Refreshments: Sell cookies, bottles of water or lemonade at your sale to keep people refreshed so they stay longer.

Finally, don’t forget what follows National Garage Sale Day by just six days: National Thrift Shop Day.

What is the best bargain you ever got at a garage sale?

Mall of the Bluffs Still for Sale

The Mall of the Bluffs has been a staple of the Council Bluffs community since it was built in 1986 along Madison Avenue near the Interstate 80 interchange. The 491,988-square-foot mall was the hot spot for shopping in the area for many years until competition from new shopping destinations appeared in the last decade.

It was set to be auctioned off this past Monday at noon through Wednesday at noon. The opening bid was set at $1.5 million dollars and bidding reached $4.5 million but did not go any further. It did not reach the secret reserve limit set by the auction company. Due to this, the current owners will continue to search for a buyer.

If you had to money to shell out for the property, what would you do with it?

5 Fast Stats for July

The month of July is officially behind us and August has begun. That means it is time to look at 5 interesting details for the month of July!

1. Cheapest home sold in Omaha
A vacant ranch was on the market for 16 days and sold for a only $9,000 and it wasn't even bank owned! Not surprisingly the new owner paid cash.

2. Most expensive home sold in Omaha
A 7,112 square foot beauty sold for $1,950,000. It came complete with its own outdoor pool, 7 fireplaces, and a "ladies boudoir." You would have had to acted quickly to make this one home because it sold in only 4 days!

3. Cheapest home sold in southwest Iowa
This home was for sale via HUD and sold for $12,510 after being on the market for 53 days. It had over 1300 square feet and was a 1.5 story bargain.

4. Most expensive home sold in southwest Iowa
For a whopping $850,000, you could have purchased a ranch on 20 acres with scenic views, a chef's dream kitchen and your very own barn.

5. Number of homes and condos sold
There were 1,769 homes and condos sold in southeastern Nebraska and southwestern Iowa in the month of July. That is a lot of moving boxes!

Which part of the real estate transaction makes you the most curious? Let us know.