Quad Cities at Lowest Housing Inventory since 2000

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August
1

Quad Cities at Lowest Housing Inventory since 2000

August 1st, 2013 by Ruhl Marketing Team

DAVENPORT – The Quad Cities inventory of homes for sale is at a 13-year low with 1,636 properties listed for sale. Inventory has been declining steadily over the past few years as the market has picked up and investors began a buying spree before prices went up. There is uneven demand based on price ranges and neighborhoods. There are still some great bargains in the upper price ranges where demand isn't as strong. For example, for homes priced at $500,000 and above, there are 20 months of inventory and the absorption rate is 6.7 homes per month. The Iowa Quad Cities currently has fewer properties listed for sale than in 2000. As of June 20, 2013 there were 743 properties listed for sale, compared to 700 in summer 2000. The Illinois Quad Cities is at an 8-year low for inventory. There are 893 properties for sale compared to the prior lowest year of 2005 when there were 885 listings. The best way for prospective buyers and sellers to ascertain the demand in a particular neighborhood is to have a Realtor® show the absorption rate or months of inventory in that neighborhood. A family-owned company since 1862, Ruhl&Ruhl Realtors has grown to nearly 304 sales associates, 58 employees and thirteen offices, selling more than 5,000 homes in eastern Iowa, western Illinois and southwest Wisconsin each year. The company has residential sales offices in Bettendorf, Burlington, Cedar Rapids, Clinton, Davenport, DeWitt, Dubuque, Iowa City, Maquoketa, Muscatine, and Washington, Iowa; and in Moline, Illinois. In addition to residential sales, the company offers services in relocation, property management, real estate investments, new home sales, land development, farm and land sales, senior services, home vendor services, insurance services through the Nelson Brothers Agency and mortgage services through Shelter Mortgage. For more information on Ruhl&Ruhl Realtors, visit their website at www.RuhlHomes.com.

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Quad Cities at Lowest Housing Inventory since 2000

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