2010
Real Estate Sales Summary
for
Cedar Falls-Waterloo, Iowa
Prepared by
Dick Robert, CRB, CRS, GRI
January 12\5, 2011
Good morning!
Welcome everyone to the 2011
version of our 31st annual real estate market summary. For 2010 the numbers
were a little bit of a surprise, as the federal government incentives had
a definite impact on our local market, both in the number of sales and
the location of those sales. Last year I projected a drop in sales for
both Waterloo and Cedar Falls of 5% to 8%. Actual sale fell 18.01 percent
in Cedar Falls, from 472 in 2009 to 387 in 2010. Waterloo showed an increase
of 2.83% from 814 in 2009 to 837 in 2010.
The driving force on this was
the tax incentive that was due to expire on April 30th but was extended
to June 30th. This is very apparent in the number of closings in May and
June.
The average sale price in Waterloo
was $ 99,106.44, and Cedar Falls was $ 199,317.61. 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 433 in 2010, 448 in 2009,
and 453 in 2008. For 2011,
I am going to forecast a drop
in sales in Waterloo of 5% and in Cedar Falls sales will stay right around
the 390 level. The average sale price will rise slightly in Waterloo, 1%
to 3% and in Cedar Falls a drop of 1% to 5%, unless we have additional
million dollar home sales.
Cedar Falls
|
|
|
2009
|
|
|
2010
|
|
|
Change
|
|
|
# Of Sales
|
|
|
472
|
|
|
387
|
|
|
-85
|
- 18.01%
|
|
Average List
|
|
|
$ 213,314.05
|
|
|
$ 203,532.99
|
|
|
-$ 9,781.06
|
- 4.58%
|
|
Average Sale
|
|
|
$ 207,754.16
|
|
|
$ 199,317.61
|
|
|
-$ 8,436.55
|
- 4.06%
|
|
% of List
|
|
|
97.39%
|
|
|
97.93%
|
|
|
+ .54
|
|
Waterloo
|
|
|
2008
|
|
|
2009
|
|
|
Change
|
|
|
# Of Sales
|
|
|
814
|
|
|
837
|
|
|
+23
|
+2.83%
|
|
Average List
|
|
|
$ 102,967.61
|
|
|
$103,231.25
|
|
|
+$ 263.64
|
+0.26%
|
|
Average Sale
|
|
|
$ 99,095.92
|
|
|
$ 99,106.44
|
|
|
+$ 10.52
|
+0.01%
|
|
% of List
|
|
|
96.24%
|
|
|
96.00%
|
|
|
- 0.24%
|
|
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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