October 13, 2008

 “All real estate is local.”  Central Iowa and Ames has continued to go against the grain of the national real estate market.  While we continue to report market numbers reflecting price appreciation and solid sales activity, it nonetheless remains a buyer’s market.  The average sale price of a residential home in Ames for the first nine months of this year is $182,681- a modest increase of 1.7%*.    As of October 1^st there were 270 homes actively for sale on the Ames, 51 fewer than the same time last year*.  We continuously monitor both the supply (number of listings), and demand (pendings and solds).  The reduction of supply combined with steady demand, we find that the residential real estate market is in better balance than it was in the fall of 2007.

Home-sellers: While it remains a buyer’s market, our market has remained stable.  Houses that are priced correctly for their condition, location, and other relevant factors, are selling in timely manner.   Houses that sold in Ames in September averaged 87 days on the market.

Home-buyers: Has there been a better time to buy a home?  Not only have interest rates remained low, but there is a good supply of homes in which to choose.   Need another good reason?  Purchase any home through Hunziker and Associates Realtors, using one of nine participating, local lenders, and we will pay your closing costs up to $1500!*  Please contact your Hunziker and Associate Realtor today, for more details about this Special Promotion.

At Hunziker and Associates, we know and understand our local real estate market like no one else.    Please contact any of our sales associates to learn more about the specific real estate market conditions that impact your decision to buy and/or sell.