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Friedrich Real Estate Report: August 2022

Sep 21, 2022

Signs continue to point toward a normalizing — and healthy — real estate market in the Ames area.   The median days on market is slowly trending upward, which is allowing buyers a better opportunity to view houses and make the best decision for them and their family. The reduced competition has also allowed for more buyer protections in purchase agreements. Things like inspections and home warranties are back on the table. However, the days on market isn’t increasing so quickly that sellers should be concerned. Their houses are still moving at a good pace. Keep in...
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Friedrich Real Estate Report: July 2022

Aug 20, 2022

The Ames real estate market has kept rolling along while the market continues to shift. The “free” money environment of the last two years fueled activity and price increases at unsustainable rates. What we’re experiencing now is a healthy correction to more normal and balanced conditions. Homes in Ames are still moving quickly, they’re still appreciating in value and the number of active listings is on an upward trend.   Interest rates appear to be leveling off between the 5% and 5.5% range, which has caused a market normalization. That interest rate range ...
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Friedrich Real Estate Report: June 2022

Jul 12, 2022

As the real estate market transitions, it’s important to remember that real estate markets are localized. Recently, national news headlines have revolved around housing prices declining and an impending “crash.” Thankfully, the Ames housing market is unlikely to experience any sort of crash. In general, more normal conditions are emerging for both buyers and sellers.   During the mortgage crisis from 2008-10, Ames’ home values remained steady or even slightly appreciated. They did not decrease. The number of homes sold during that time did diminish, but the ...
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Friedrich Real Estate Report: May 2022

Jun 10, 2022

The market is trending toward more normalization, but robust activity is continuing.   The Ames real estate market introduced 96 new listings in May. That was the most new listings since May of 2020. Because so many homes were introduced, it increased the active listings from 58 to 75. That was the largest increase of active listings since June of 2019 when it increased by 24. Those are encouraging signs for a more normalized market since we’ve been facing a shortage since the pandemic started.   This normalization has been aided by the interest rate increases we&r...
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Friedrich Real Estate Report: April 2022

May 12, 2022

Changing winds often bring stormy weather. The Ames real estate market, and the national market as a whole, are becoming more unpredictable. This shift could bring some uncertainty for a period of time as the market transitions.   Your Friedrich Iowa Realty agent is your anchor to keep you grounded as you navigate the changing real estate landscape.   Rising interest rates, which were at 5.11% at the end of April, have been the main contributor to the changing market. Some buyers are moving as fast as possible to lock down the lowest interest rates they can. This is why ...
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Friedrich Real Estate Report: March 2022

Apr 4, 2022

The real estate market ran on high octane fuel during the month of March. Houses moved at a rapid pace and competition increased.   March brought 72 new listings to the market — the most new listings since June of 2021 — and those listings didn’t last long. The median days on market was just six days. Of the 72 houses that went pending in March, 38 of them lasted less than a week. The reason for the high average days on market was a few houses that had been on the market for over 100 days went pending, which skewed the average.   After a four-month peri...
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Friedrich Real Estate Report: February 2022

Mar 8, 2022

The Ames real estate market had no major shifts during February, but we did see a slight seasonal slowing of sales. We weren’t sure we were going to get that after a red-hot January, but the market appears to have taken a small breath to compose itself for a spring and summer that will likely speed things right back up. While interest rates increased again in February, this time to 4.026%, we believe the real estate market’s slower pace has more to do with seasonality rather than rising rates. The 4% rates are still historically low and create an incentive for buyers to act now. ...
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Friedrich Real Estate Report: January 2022

Feb 8, 2022

The 2022 real estate market has picked up where the 2021 market left off. The market is as active as ever and the new year seems to have brought a renewed energy to the market after a brief December “breather” — reflected by the fact that the average days on market is back down to just over a month.   The number of active listings remains very low, even as new listings rose to a four-month high. One distinction that is important to make is that “sold listings” are for closed sales only — not pending sales. The “December Dip” will tran...
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2021 Ames Real Estate Market Report

Jan 27, 2022

The past year was an unprecedented in the real estate world. The average number of days a house was on the market was just 32 days in Ames. During the summer months, houses were selling in under a month and they were routinely receiving multiple offers. The very strong sellers market led to the median list price and the median sale price to be nearly identical. The median list price in Ames was $269,900 and the median sale price was $267,500 in 2021. In 2020, the median list price was $249,000 and the median sale price was $231,000 — a 14% increase in median sale price from...
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Friedrich Real Estate Report: December 2021

Jan 11, 2022

We hope you had a Merry Christmas, Happy New Year and a Happy Holiday season! As is typical this time of year, the real estate market seemingly took a bit of a “holiday break” in December as well, but even slower months give insights into the market. Only 17 new listings were introduced to the market in December of 2021, and while the number of sold listings dipped to 45, the number of solds out paced the new listings by 28. That brought the number of active listings to a quarterly low of just 63 listings on the market at the end of December — a normal sign of the season....
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