2009
Real Estate Sales Summary
for
Cedar Falls-Waterloo, Iowa
Prepared by
Dick Robert, CRB, CRS, GRI
January 12, 2010
Good morning!
Welcome to the 30th edition
of our year-end summary and forecast. When I left H. Dean Paup, Realtors®
on December 12, 1979 to start my own firm, it was one of the most difficult
periods of time for the real estate profession. We had double-digit interest
rates, hundreds of homes for sale and a great deal of difficulty even obtaining
financing. Today, while the rest of the country is struggling with sales
and the large number of foreclosures, Waterloo and Cedar Falls are enjoying
a very healthy resurgence. Last year I projected a decrease in sales of
4% to 9% for both cities and an average sales price drop of 0% to 3%.
Sales in Waterloo did drop,
but only by 4.12%, and average sale price fell only 0.82%. In Cedar Falls,
the total number of sales increased by 1.94% and the average sales price
went up 8.12%.
Waterloo sales were 814 in 2009
and 849 in 2008. Cedar Falls had 472 sales in 2009 and 463 in 2008. 
The average sale price in Waterloo
was $ 99,095.92, and Cedar Falls was $ 207,754.16. Remember, that for the
sake of comparison, I am using only detached single-family homes as reported
sold monthly by the Multiple Listing Service of the Waterloo- Cedar Falls
Board of REALTORS®. If condominiums and townhouses were included the
totals would be higher.
Black Hawk County Abstract Company
has again provided figures on foreclosures in Black Hawk County, and surprisingly
they are down slightly from last year. There were 453 in 2008 and 448 in
2009. For 2010, I am going to forecast a drop in sales for both Waterloo
and Cedar Falls of about 5% to 8%. The average sale price will rise slightly
in Waterloo, 1% to 3% and in Cedar Falls a drop of 2% to 4%, unless we
have additional million dollar home sales.
Cedar Falls
|
|
|
2008
|
|
|
2009
|
|
|
Change
|
|
|
# Of Sales
|
|
|
463
|
|
|
472
|
|
|
+ 9
|
+ 1.94%
|
|
Average List
|
|
|
$ 197,120.44
|
|
|
$ 213,314.05
|
|
|
+ $16,193.61
|
+ 8.22%
|
|
Average Sale
|
|
|
$ 192,153.84
|
|
|
$ 207,754.16
|
|
|
+ $15,600.32
|
+ 8.12%
|
|
% of List
|
|
|
97.48%
|
|
|
97.39%
|
|
|
- 0.09 %
|
|
Waterloo
|
|
|
2008
|
|
|
2009
|
|
|
Change
|
|
|
# Of Sales
|
|
|
849
|
|
|
814
|
|
|
-35
|
-4.12%
|
|
Average List
|
|
|
$ 104,793.92
|
|
|
$102,967.61
|
|
|
-$ 1,826.31
|
-1.74%
|
|
Average Sale
|
|
|
$ 99,910.51
|
|
|
$ 99,095.92
|
|
|
-$ 814.59
|
-0.82%
|
|
% of List
|
|
|
95.34%
|
|
|
96.24%
|
|
|
+ 0.90%
|
|
Many thanks to Chris Reiter for
her year long efforts in compiling this data.
Best Wishes,
Dick Robert CRB, CRS, GRI
....
...1931
Main Steet 11111-1111
Cedar Falls, Iowa 50613
11111-1111Office
319-277-7256 11111-1111FAX
319-277-7627
WWW.CEDARFALLSREALESTATECO.COM.....
.
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