Around the country, most real estate markets favor the seller. There are simply more buyers interested in buying a home than there are homes available, especially in certain price ranges.
However, the real estate market is always changing. Different states have different market conditions, and even within the state things can vary significantly depending on what’s happening in specific cities and metro areas.
If you’re looking to buy or sell a home, it’s vital to know what the real estate market is doing in your area. Knowing the temperature of each area can help you time the market and buy or sell at the perfect time. It can also help you find the perfect investment property.
How do things look in Iowa in 2019? Here’s what you need to know.
2019 Real Estate Market Forecast for Iowa
Like much of the country, the Iowa real estate market overall is a seller’s market. The median home value is $142,600 and rising.
There are several cities that have distinct real estate markets in Iowa. Knowing the city and county that you’re focused on can help you get more specific information about the market. Here are a few major cities to consider.
Des Moines, the state’s capital, is surrounded by higher-priced suburbs but the area boasts excellent schools and a diverse population. Investors find Des Moines to be an excellent and often-overlooked investment market.
Iowa City is a university town, with half the population made up of students. Property prices tend to be high in this area and many are renters. Those looking for a good deal on housing often look in Coralville or surrounding smaller towns.
North Liberty is a booming city with a rapidly growing population and high property prices. Well-positioned for those who work in Iowa City or Cedar Rapids, you’ll find most homes in the $115,000 - $345,000 range.
When is the Best Time to Sell a House in Iowa?
Iowa boasts four beautiful seasons, but the winters can be very harsh. If you want the best price for your home, you’ll want to list it in the spring with an eye towards closing within 30 – 60 days.
In Iowa, you’ll do best if you list in April or May. If you list in June or later, you’ll be competing with a lot of homes already on the market. Buyers tend to wrap up most of their activity by the time school starts, so if you try to sell your home in fall or winter you’ll be unlikely to get the price you’re hoping for.
Working with a high-quality seller’s agent can help you time the market well and get you other help to sell your home for a great price as well. They’ll be aware of the specifics of your area and can give you excellent advice.
They can also help you price your home correctly, advertise the new listing, and leverage their network of professionals to help you find a quality escrow agent, title agent, and more. You’ll get tips on how to make your home sell more quickly, including ideas for staging, repairs, and other steps to take.
Even better, if you work with a Clever Partner Agent, you don’t have to break the bank on commission. In fact, you’ll pay a low flat fee of $3,000 or 1% of the price if the home sells over $350,000.
When is the Best Time to Buy a House in Iowa?
If you’re buying a home in Iowa, you’ll need to think about whether your timeframe is limited by outside considerations, such as school, a new job, or other concerns. If not, your next choice is whether you’re more motivated by choosing from a large variety of houses or getting the lowest price.
If you want to make sure that you choose the very best house from the options available, you’ll want to focus your house hunt in the spring and summer. You’ll have the largest number of homes to choose from, but you’ll have a lot of competition from other buyers.
If you’re focused on rock-bottom pricing, look for homes in the fall or winter. There will be a lot fewer homes on the market, but you can find motivated sellers and may be able to get a great home for a low price.
Regardless, be sure you’re aware of what your budget and goals are. Know what features are must-haves and what you can do without. Also, decide whether you’re open to doing any repairs or maintenance or you want a property that’s ready to go right away.
It’s important to work with an experienced buyer’s agent when you’re looking at Iowa homes. Not only do they understand the market and can help you find an excellent home at a fair price, but they can also help you during negotiations. They also understand all the paperwork and can help make sure nothing is missed so all of your rights are protected.
Ready to Get Into the Iowa Real Estate Market?
Whether you’re looking to buy your next family home, get started with investing, or sell your current home, it pays to work with a professional. You need an experienced agent that understands the market, can help you find the right time to buy and sell, and has the negotiation skills you’ll need to get the best deal.
Working with a great agent can make all the difference. It doesn’t have to cost much, either. A Clever Partner Agent will give you the full-service experience you deserve at a lower price than you might expect.
If you’re ready to get started, we’re here to help. Simply fill out our online form and a representative from Clever will be in touch. We’ll answer any questions you have about buying, selling, or both. Once we understand your needs, we’ll connect you to a qualified local agent for a no-obligation consultation.
There’s no reason to wait — contact us to get started today!