Statistics always play a huge role in the real estate game, but now, they are huge!  Almost weekly, there is a report on the national news of the great decline in the housing market and how everything is collapsing because of sub prime lender tightening of the belt, higher interest rates, foreclosures looming in the near future, etc.

Well, now for some good news.  Iowa is one of five states in the country that has an increase in sales over last years figures.  This takes into account single family dwellings, aparments, condos, and co-ops.  Here is how those five states rank in comparison to last years figures.

1.   Wyoming       +10.8%

2.   Iowa               +4.1%

3.   North Dakota   +2.9%

4.   Oklahoma       +1.5%

5.   Indiana            +1.4%

With regards to Cedar Rapids Real Estate those numbers are even better. 

  • The number of Active Listings on the market as of September 5, 2007 is 2249, up 10% over last year's figures. 
  • The Sold YTD listings are currently at 3077.  Last year's SOLD YTD was at 3205, so we've a little ways to go to surpass that number, but will probably do so with a few short weeks. 
  • There are currently 355 "new construction" homes which are actively on the market for Cedar Rapids Real Estate.
  • There are currently 448 condominiums on the market, up 19.9% from last year's figures.
  • In 2006, 64% of all listings sold in the first 90 days.  What about 2007?  62.4%
  • According to the NAR, in July 2006, 122,000 homes were sold in the Midwest.  Was July 2007 better or worse?  It was worse, but only by 1.4%.
  • NAR (National Association of Realtors) chief economist predicts existing home sales to rise from third quarter 2007 numbers.

The average household income in the Cedar Rapids metro area for 2006 was $69,111.  

 For more information on Cedar Rapids Real Estate, Skogman Realty, or your Cedar Rapid's Realtor Christopher Smith, please call 319-329-5988 or email christopher@skogman.com  Also, don't forget to visit www.christophersmithrealtor.com for the most comprehensive real estate website in Cedar Rapids.  Thank you!