Des Moines Condo Blog

Urbandale Condo, Town Home & Lofts Sales Up 4% in 2010

December 9, 2010 Jay Snyder Leave a comment

Condo, town home and loft sales in Urbandale are up 4% compared to a year ago. 125 properties have been sold through December 8th, compared to 120 sales last year. It’s a small increase, but it just might portend a turnaround in the metro’s rather anemic condo and town home market. That being said, 2010 sales are still half of what they were in 2005, when Urbandale’s market peaked with 254 sales.

: Urbandale Condo Sales – Units Sold 2001-2010

Another small bit of good news. The average sales price is up from the previous year for the first time in five years. Granted, the average sales price is down 17% from the market peak in 2005, but the market is headed in a positive direction

: Urbandale Condo Sales – Average Sales Price 2001-2010

Of course, not every indicator went up in 2010. The average sales price per square foot dropped for the fourth year in a row to $104.

That represents a 17% drop from the market peak, which most likely indicates buyers were getting very good deals on upper end properties in 2010.

: Urbandale Condo Sales – Avg. Sales price Per Sq. Ft. 2001-2010

Jay Snyder | RE/MAX Real Estate Group |6600 University Ave. | Des Moines, IA

Licensed to Sell Real Estate in Iowa | 515-771-5562

jay@desmoinescondos.com www.DesMoinesCondos.com

Categories: Urbandale Condos, Urbandale Town Homes

Des Moines Metro Condo Sales Down 52% in November

December 1, 2010 Jay Snyder Leave a comment

What a difference a year makes.

Metro Des Moines condo, town home and loft sales were down 52% in November, compared to the same period a year ago. The 71 sale total is the lowest monthly total since January of this year. Last November’s higher numbers were no doubt buoyed by the $8,000 federal tax credit. November sales were down 59% from the market peak of 173 sales in 2005.

The average sales price in November was $162,477, which bought a two bedroom two bathroom property with 1429 square feet. That compares to an average sales price of $137,518 a year ago in November.

Jay Snyder | RE/MAX Real Estate Group |6600 University Ave. | Des Moines, IA

Licensed to Sell Real Estate in Iowa | 515-771-5562

Jay Snyder | RE/MAX Real Estate Group |6600 University Ave. | Des Moines, IA

Licensed to Sell Real Estate in Iowa | 515-771-5562

jay@desmoinescondos.com www.DesMoinesCondos.com

West Des Moines Condo & Town Home Sale Prices Near 10 Year Low

November 30, 2010 Jay Snyder Leave a comment

Despite the federal tax credit extension in 2010, the 290 condo and town home units sold so far this year in West Des Moines represent the second lowest sales level in the past decade. It looks like 2010 sales will finish down approximately 20% lower than a year ago and more than 40% lower than the market peak in 2005. 2008 was the worst year of the decade, with only 266 sales reported.

West Des Moines Condo & Town Home Units Sold 2001-2010

Of course, with fewer sales come lower sale prices. The average sales price of a West Des Moines condo or town home so far this year is $135,000, a reduction of 8% compared to a year ago and down 14% compared to the peak year of 2006, when sale prices averaged more than $157,000. You have to go back to 2001 to find a lower average sales price.

West Des Moines Condos and Town Homes Average Sales Price 2001-2010

All that being said, there are indications we are at or near the bottom of this cycle. The average sales price per square foot appears to be stabilizing. Year to date, the average price per square foot for West Des Moines condos and town homes is approximately $104 per square foot, a slight increase from a year ago. That figure represents a drop of 10% from the market peak of $116 per square foot in 2007.