CENTURY 21 ProLink Blog

A strong real estate market – including both residential and commercial – is key to creating a healthy economy and strong communities. Both markets are showing signs of improvement in Iowa; and both are important in economic recovery. 

The residential real estate market in Iowa continues to show positive signs, and has been on the upswing for the past few months. Home sales and prices in Iowa were up in April, according to the latest report from the Iowa Association of REALTORS® (IAR). The IAR’s 2010 April Housing Trends Report shows the total number of homes sold in April was up 32.4 percent and sales prices were up 5.2 percent from last April. Residential listings were also up, as April was second strongest month of new activity in the last three years.

Although it’s moving slower than the residential market, the commercial real estate market in Iowa is also finally starting to show small signs of improvement as well. There are definitely pockets of the state that are bouncing back with more activity. Many communities in the state have experienced high vacancy rates and rent concessions during recent tough economic times. However, commercial prices are starting to even out in many areas, and sales are increasing – due, in large part, to the higher volume of distressed properties on the market.

It’s important to note that the commercial real estate market typically lags behind the economy (and the residential real estate market) by a year. The IAR hopes to see additional positive trends in the commercial real estate market later in 2010, as more jobs are created and the economy continues to improve.

If you're interested in buying or selling a home or commercial property, contact one of the many qualified, professional REALTORS® in our community who can help you find the perfect home or property to fit your needs.

Sources: Iowa Association of REALTORS®, National Association of REALTORS®, and the Iowa Commercial Real Estate Association