What Is The State Of The Market In Siouxland?
Aaron Bircher, Broker/Owner RE/MAX Prime/ Team Leader Of Bircher And Associates
The current state of the real estate market as of January 31, 2022: according to the Northwest Iowa Association Of Realtors the active listing count is down 73% compared to January of 2021. Last year, there was a common statement made in the marketplace that we were having a “Housing Shortage” in Siouxland. My position was a little different. I repeatedly said, it’s true that buying a home is difficult and buyers must be approved and ready to jump on new listings as they come available. However, we had more new listings and sales in Siouxland than ever before. (3174 closed transactions in 2021 Northwest Iowa MLS, the most that we can find in our historical searches), Therefore how can you have a shortage with more sales than ever? It was not a Housing Shortage but rather a RED HOT market. Our market remains incredibly strong and rates are still at record lows historically. As we now seem to actually have a true lack of inventory in Siouxland, I would describe the conditions as a Supercharged Sellers market. Although Sellers still need to price correctly, they should be able to expect good odds towards potential multiple offer listing opportunities. In 2021 our team put together 108 transactions and we estimate 90% of them were in multiple offers. We were able to effectively help our Sellers maximize their value with our Marketing Strategies and Experience. For Buyers we were able to help them get positioned correctly and structure their offers in a competitive way resulting in a very high closing to contract ratio.
Please contact my team today for a free consultation. Thank you!