To say the housing market in central Iowa has been loopy is an understatement.
The pandemic yr of 2020 proved to be busy for brand new dwelling development, which noticed its quickest progress in 15 years, and gross sales of current properties, which set a file.
And 2021 has proved to be no totally different. With file low stock, it is more durable than ever to buy a house and, with lumber prices skyrocketing, it is dearer to construct.
Contemplating promoting? Or simply making an attempt to know what’s forward? Here is what you’ll want to know:
— Kim Norvell, Register progress and improvement reporter
Des Moines named a top 10 resilient market: The metro joins main cities like Atlanta, Dallas and Phoenix in displaying resiliency all through the COVID-19 pandemic, with expectations for a powerful 2021.
In hot market, Des Moines metro home sellers can get top dollar, but find themselves competing to buy: It is a vendor’s market. There have been 1000’s of fewer properties on the market than in typical years, that means there’s extra competitors for the restricted variety of properties available on the market. That is driving costs up and forcing consumers to make concessions on buy agreements.
It’s hard to land a house in the Des Moines metro right now. Here are some tips for buyers: Know your finances and transfer quick.In case you are contemplating shopping for a house, listed here are some actual property brokers’ finest ideas.
Des Moines metro home building is booming as Iowans take advantage of low interest rates to seek more space: A near-record variety of housing permits had been pulled final yr as Iowans sought new locations to stay.
Cities in Des Moines metro break building records during pandemic as demand for new housing booms: Three cities — Ankeny, Nice Hill and Waukee — set information in 2020 for the worth of latest constructing permits issued, regardless of the worldwide pandemic. One other two cities — Altoona and Clive — noticed information of their permits for residential development.
Here’s why your Polk County home value assessment went up: The “deep vendor’s market” has pushed dwelling costs up, that means your Polk County assessments, used to find out what your property taxes, additionally went up. The county noticed a median enhance of seven.45%.
These are the most expensive homes sold in the Des Moines metro in 2020: It was a banner yr for luxurious actual property. See the place the $1 million-plus properties had been offered.
This record shall be up to date all through the summer season — examine again as we add extra.