Lately, I’ve had many people ask about the real estate market, and I take that as a good sign. If so many people are curious, it likely means they’re considering a move. But is now the right time for you to make that decision? Let’s take a look at the current market conditions.
Buyer’s Perspective
If you’re a buyer, there’s plenty to be optimistic about. One of the biggest challenges over the past five years has been low inventory, but that’s steadily improving. Currently, the number of homes for sale is comparable to this time in 2019 and 2020—just before the real estate market surged.
A chart provided by Les Sulgrove at Simply Des Moines, showing Central Iowa’s housing inventory dating back to 2009, illustrates a consistent seasonal trend: inventory is typically at its lowest this time of year. Right now, we’re at the same level as 2019 and 2020. You can also see the sharp market changes caused by the pandemic in 2020. For buyers, this means more homes to choose from and longer market times, which can lead to better opportunities.
Additionally, interest rates are improving. According to Freddie Mac, mortgage rates have been steadily declining since mid-January. While national averages fluctuate, I’ve personally seen 30-year mortgage rates as low as 6.1% in our local market.
Another positive for buyers is the slowing rate of home price appreciation. A Case-Shiller chart tracking national home price appreciation since 2019 shows we’ve returned to a more typical growth rate. You’ll notice that 2019 is often referenced because it’s considered the last “normal” year before the pandemic-driven market shifts. The years 2020 and 2021 were outliers—often called “unicorn years”—and aren’t typically included in long-term statistics.
Seller’s Perspective
If you’re selling, success comes down to strategy. While homes are staying on the market a bit longer compared to the past few years, they’re still selling faster than pre-COVID averages. A recent Days on Market (DOM) chart confirms that while homes aren’t moving as quickly as in 2021 or 2022, they are still selling at a steady pace.
My top advice for sellers: price your home correctly from day one. Homes that linger on the market tend to be those that were initially overpriced. Today’s buyers have little tolerance for overvalued homes, and pricing too high often results in price reductions later—something you want to avoid.
The second crucial step: ensure your home is market-ready. Not only should your home be visually appealing and well-maintained for showings, but today’s buyers also expect home inspections to reveal minimal issues. Addressing maintenance concerns ahead of time will help your home sell faster and with fewer complications. If you follow my monthly home maintenance tips, you’ll already be in great shape.
By following these strategies, you’ll position your home to sell at the right time, for the highest possible price, and with minimal stress.
The Next Step
Whether you’re buying, selling, or both, having a solid plan is key. It’s never too early to reach out and start strategizing for your move. Let’s work together to ensure a smooth and successful transition.
Norwalk, IA Real Estate – Jon Niemeyer
As a Broker Associate/REALTOR® at EXIT Realty and Associates, I specialize in buying and selling real estate throughout Central Iowa, including Norwalk, Des Moines, West Des Moines, Cumming, Indianola, Carlisle, Waukee, Urbandale, Grimes, Clive, Johnston, Ankeny, Altoona, and Pleasant Hill. I proudly serve Warren, Polk, Dallas, and Madison Counties.
đź“ž Call me, Jon Niemeyer, at 515-490-4675, and let’s find your dream home in Central Iowa!
For most property owners in Iowa, March is the month when we pay the second-half of our annual property tax. The first-half was due in September of last year. If you have a mortgage on your property, you may have elected to have the mortgage servicer
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When buying or selling a home, you’ve likely encountered the terms “real estate agent” and “REALTOR®.” While many people use them interchangeably, they are not the same. Understanding the difference ensures you choos
For most property owners in Iowa, March is the month when we pay the second-half of our annual property tax. The first-half was due in September of last year. If you have a mortgage on your property, you may have elected to have the mortgage servicer
Happy New Year! As we embark on 2025, I'm thrilled to announce some exciting changes that will enhance the real estate experience for all my clients. Â For many years, two EXIT Realty brokerages have served the Des Moines Metro area: EXIT Realty