November 1, 2023

Ames Real Estate Recap

Inventory levels remain low. Homes continue to sell quickly. Values show signs of leveling off.

*New Listings--The 42 new listings are down 21% from the previous 8-year average for new listings (53) in Ames for the month of October. As of November 1, 2023, there were 87 residential properties for sale in Ames on our MLS. 

*Homes Under Contract (Sale Pending)--In October, 48 homes went "sale pending" in Ames. This compares to the 8-year average of 51 "sale pendings" in Ames for the month of October. 

*Days on the Market--Homes that sold in Ames in October averaged 35 days on the market. Over the past 8 years, homes that sold in Ames during the month of October averaged 44 days on the market. 

 *Average Sale Price--The October average sale price for homes sold in Ames was $265,885. The average sale price in Ames for the month of October was $60,711 (19%) lower than in October of 2022. This is the 4th consecutive month in which the Ames average sale price has decreased when compared to 2022 and the 6th time year-to-date.

*List Price to Sale Price Ratio--In October, homes in Ames sold for 96.4% of their asking price. This is the lowest list price-to-sale price ratio we've seen since October 2020 (96.3%).

*Absorption Rate--The absorption rate calculates how quickly the inventory turns in months when comparing the current inventory to the current number of sales. Historically, an absorption rate of 3 months is considered to be strong and 1 month or less was unheard of. The higher the absorption rate the weaker the market. The absorption rate has been slowly increasing. This is the 16th month out of the previous 17 months in which the absorption rate has weakened from the previous year. With that being said, October's absorption rate remained unbelievably strong at 1.8 months.

 

 

October 1, 2023

Ames Real Estate Recap

Inventory levels begin to rise slightly. Homes continue to sell quickly. Values show signs of leveling off.

*New Listings--The 71 new listings are up 17% from the previous 8-year average for new listings (59) in Ames for the month of September. As of October 1, 2023, there were 86 residential properties for sale in Ames on our MLS. This is an increase of 15 properties from September 1, 2023.

*Homes Under Contract (Sale Pending)--In September, 46 homes went "sale pending" in Ames. This compares to the 8-year average of 45 "sale pendings" in Ames for the month of September. 

*Days on the Market--Homes that sold in Ames in September averaged 37 days on the market. Over the past 8 years, homes that sold in Ames during the month of September averaged 46 days on the market. 

 *Average Sale Price--The September average sale price for homes sold in Ames was $337,097. The average sale price in Ames for the month of September was $12,004 (3.5%) lower than in September of 2022. This is the 3rd consecutive month in which the Ames average sale price has decreased when compared to 2022 and the 5th time year-to-date.

*List Price to Sale Price Ratio--In September, homes in Ames sold for 99.4% of their asking price. This ends a streak of 6 consecutive months in which the list price-to-sale price ratio had slightly decreased from the previous year in Ames.

*Absorption Rate--The absorption rate calculates how quickly the inventory turns in months when comparing the current inventory to the current number of sales. Historically, an absorption rate of 3 months is considered to be strong and 1 month or less was unheard of. The higher the absorption rate the weaker the market. The absorption rate has been slowly increasing. This is the 15th month out of the previous 16 months in which the absorption rate has weakened from the previous year. With that being said, September's absorption rate remained unbelievably strong at 2.35 months.

 

September 1, 2023

Ames Real Estate Recap

Inventory levels remain low. Homes continue to sell quickly. Values are showing signs of leveling off.

*New Listings--The 47 new listings are down 27% from the previous 8-year average for new listings (64) in Ames for the month of August. As of September 1, 2023, there were only 81 residential properties for sale in Ames on our MLS. 

*Homes Under Contract (Sale Pending)--In August 39 homes went "sale pending" in Ames. This compares to the 8-year average of 44 "sale pendings" in Ames for the month of August. Sale pendings were down 11% in Ames from the 8-year average for the month of August.

*Days on the Market--Homes that sold in Ames in August averaged 22 days on the market. Over the past 8 years, homes that sold in Ames during the month of August averaged 38 days on the market. 

 *Average Sale Price--The August average sale price for homes sold in Ames was $306,581. The average sale price in Ames for the month of August was $24,555 lower than in August of 2022. This is the 2nd consecutive month in which the Ames average sale price has decreased when compared to 2022 and the 4th time year-to-date.

*List Price to Sale Price Ratio--In August, homes in Ames sold for 98% of their asking price. This is the 6th consecutive month in which the list price to sale price ratio has slightly decreased.

*Absorption Rate--The absorption rate calculates how quickly the inventory turns in months when comparing the current inventory to the current number of sales. Historically, an absorption rate of 3 months is considered to be strong and 1 month or less was unheard of. The higher the absorption rate the weaker the market. The absorption rate has been slowly increasing. This is the 14th month out of the previous 15 months in which the absorption rate has weakened from the previous year. With that being said, August's absorption rate remained unbelievably strong at 2.3 months.

 

 

August  1, 2023

Ames Real Estate Recap

Inventory levels remain low, homes continue to sell quickly.  The Ames market remains strong, just not as strong as in 2022. *New Listings--The 47 new listings are down 30% from the previous 8-year average for new listings (67) in Ames for the month of July. As of August 1, 2023, there were only 82 residential properties for sale in Ames on our MLS. 

*Homes Under Contract (Sale Pending)-In July, 49  homes went "sale pending" in Ames. This compares to the 8-year average of 57 "sale pendings" in Ames for the month of July. Sale pendings were down 14% in Ames from the 8-year average for the month of July.

*Days on the Market--Homes that sold in Ames in July averaged 21 days on the market. Over the past 8 years, homes that sold in Ames during the month of July averaged 42 days on the market. 

 *Average Sale Price--The July average sale price for homes sold in Ames was $312,571.  The average sale price in Ames for the month of July was $12,188 lower than in July of 2022 and $62,056 higher than the average sale price in Ames in July of 2020. 

*List Price to Sale Price Ratio--In July, homes in Ames sold for 99% of their asking price. This is the 5th consecutive month in which the list price to sale price ratio has slightly decreased.

*Absorption Rate--The absorption rate calculates how quickly the inventory turns in months when comparing the current inventory to the current number of sales. Historically, an absorption rate of 3 months is considered to be strong and 1 month or less was unheard of. The higher the absorption rate the weaker the market. The absorption rate has been slowly increasing. This is the 13th month out of the previous 14 months in which the absorption rate has weakened from the previous year. With that being said, July's absorption rate remained unbelievably strong at 2 months.

 

 

July 1, 2023

Ames Real Estate Recap

Inventory levels continue to improve while average sale prices continue to rise. 

*New Listings--The 75 new listings are down 10% from the previous 8-year average for new listings (84) in Ames for the month of June. As of July 1, 2023, there were only 85 residential properties for sale in Ames on our MLS. This is an increase of 10 active listings from the 75 that were available on June 1, 2023.

*Homes Under Contract (Sale Pending)-In June, 64 homes went "sale pending" in Ames. This compares to the 8-year average of 74 "sale pendings" in Ames for the month of June. Sale pendings were down 14% in Ames from the 8-year average for the month of June.

*Days on the Market--Homes that sold in Ames in June averaged 40 days on the market. Over the past 8 years, homes that sold in Ames during the month of June averaged 44 days on the market.

 *Average Sale Price--The June average sale price for homes sold in Ames was $360,870.  The average sale price in Ames for the month of June was $25,817 higher than in June of 2022 and $114,716 dollars higher than the average sale price in Ames in June 2020. The average sale price has spiked significantly over the last 3 years.

*List Price to Sale Price Ratio--In June, homes in Ames sold for 100.1% of their asking price. This is 3rd consecutive June in which homes in Ames averaged a sale price greater than their asking price. This is also the 3rd consecutive month in which the list price to sale price ratio has slightly decreased from the previous year.

*Absorption Rate--The absorption rate calculates how quickly the inventory turns in months when comparing the current inventory to the current number of sales. Historically, an absorption rate of 3 months is considered to be strong and 1 month or less was unheard of. The higher the absorption rate the weaker the market. The absorption rate has been slowly increasing. This is the 12th month out of the previous 13 months in which the absorption rate has weakened from the previous year. With that being said, June's absorption rate remained unbelievably strong at 2 months.

 

 

 

June 1, 2023

Ames Real Estate Recap

Inventory levels improve slightly while average sale prices continue to rise. 

*New Listings--The 75 new listings are down 23% from the previous 8-year average for new listings (97) in Ames for the month of May. As of June 1, 2023, there were only 75 residential properties for sale in Ames on our MLS. This is actually an increase of 20 listings as reported on May 1, 2023.

*Homes Under Contract (Sale Pending)-In May, 55 homes went "sale pending" in Ames. This compares to the 8-year average of 83 "sale pendings" in Ames for the month of May. Sale pendings were down 34% in Ames from the 8-year average for the month of May.

*Days on the Market--Homes that sold in Ames in May averaged 21 days on the market. Over the past 8 years, homes that sold in Ames during the month of May averaged 51 days on the market.

 *Average Sale Price--The May average sale price for homes sold in Ames was $356,418. The average sale price in Ames for the month of May was $46,569 higher than in May of 2022 and $102,148 dollars higher than the average sale price in Ames in May 2020. The average sale price has spiked significantly over the last 3 years.

*List Price to Sale Price Ratio--In May, homes in Ames sold for 100.4% of their asking price. This is 3rd consecutive May in which homes in Ames averaged a sale price greater than their asking price. From 2015-2020, homes that sold in Ames, in May, sold for an average of 97.4% of their asking price.

*Absorption Rate--The absorption rate calculates how quickly the inventory turns in months when comparing the current inventory to the current number of sales. Historically, an absorption rate of 3 months is considered to be strong and 1 month or less was unheard of. The higher the absorption rate the weaker the market. The absorption rate has been slowly increasing. This is the 11th month out of the previous 12 months in which the absorption rate has weakened from the previous year. With that being said, May's absorption rate remained unbelievably strong at 1.39 months.

 

 

May 1, 2023

Ames Real Estate Statistics for the Month of April 2023

Historically low inventory levels continue to drive the Ames real estate market.  

*New Listings--The 50 new listings are down 42% from the 8-year average for new listings (86) in Ames for the month of April.  As of May 1, 2023, there were only 53 residential properties for sale in Ames on our MLS.

*Homes Under Contract (Sale Pending)--In April, 59 homes went "sale pending" in Ames. This compares to the 8-year average of 75 "sale pendings" in Ames for the month of April.  Sale pendings were down 21% in Ames from the 8-year average for the month of April.

*Days on the Market--Homes that sold in Ames, in April, averaged 31 days on the market. Over the past 8 years, homes that sold in Ames during the month of April averaged 50 days on the market.

 *Average Sale Price--The April average sale price for homes sold in Ames was $288,881. The average sale price in Ames for the month of April was $49,484 lower than in April of 2022 and $22,033 higher than April of 2021.

*List Price to Sale Price Ratio--In April, homes in Ames sold for 99.6% of their asking price. This is 1.7% greater than the 8-year average of 97.9% for the month of April.  This is also a slight improvement from last month's ratio of 99.4%.

*Absorption Rate--The absorption rate calculates how quickly the inventory turns in months when comparing the current inventory to the current number of sales.  Historically, an absorption rate of 3 months is considered to be strong and 1 month or less was unheard of.  The higher the absorption rate the weaker the market.  The absorption rate has been slowly increasing.  This is the 11th month out of the last 12 months in which the absorption rate has weakened from the previous year. With that being said, April's absorption rate remained unbelievably strong at 1.49 months.

 

April 1, 2023

Ames Real Estate Statistics for the Month of March 2023

Historically low inventory levels continue to drive the Ames real estate market.  

*New Listings--The 62 new listings are down 28% from the 8-year average for new listings (86) in Ames for the month of March.  As of April 1, 2023, there were only 55 residential properties for sale in Ames on our MLS.

*Homes Under Contract (Sale Pending)-In March, 45 homes went "sale pending" in Ames. This compares to the 8-year average of 74 "sale pendings" in Ames for the month of March.  Sale pendings were down 39% in Ames from the 8-year average for the month of March.

*Days on the Market--Homes that sold in Ames in March averaged 40 days on the market. Over the past 8 years, homes that sold in Ames during the month of March averaged 51 days on the market.

 *Average Sale Price--The March average sale price for homes sold in Ames was $352,555. The average sale price in Ames for the month of March was $65,633 higher than in March of 2022. Last month's average sale price of $352,555 was 45% greater than the average sale in March 2015.

*List Price to Sale Price Ratio--In March, homes in Ames sold for 99.4% of their asking price. This is 2% greater than the 8-year average of 97.4% for the month of March.  This is also a slight improvement from last month's ratio of 97.8%.

*Absorption Rate--The absorption rate calculates how quickly the inventory turns in months when comparing the current inventory to the current number of sales.  Historically, an absorption rate of 3 months is considered to be strong and 1 month or less was unheard of.  The higher the absorption rate the weaker the market.  The absorption rate has been slowly increasing.  This is the 10th time in the last 11 months in which the absorption rate has weakened from the previous year. With that being said, March's absorption rate remained unbelievably strong at 1.15 months.

 

 

March 1, 2023

Ames Real Estate Statistics for the Month of February 2023

The trend continues, low inventory and strong buyer demand are driving the Ames real estate market.

*New Listings--The 35 new listings are down 42% from the 8-year average for new listings (62) in Ames for the month of February.  As of March 1, 2023, there were only 58 residential properties for sale in Ames on our MLS.

*Homes Under Contract (Sale Pending)-In February, 33 homes went "sale pending" in Ames. This compares to the 8-year average of 52 "sale pendings" in Ames for the month of February.  Sale pendings were down 36% in Ames from the 8-year average for the month of February.

*Days on the Market--Homes that sold in Ames in February averaged 32 days on the market. Over the past 8 years, homes that sold in Ames during the month of February averaged 75 days on the market.

 *Average Sale Price--The February average sale price for homes sold in Ames was $352,199. The average sale price in Ames for the month of February was $75,533 higher than in February of 2022. You may recall, in January of 2023, the average sale price in Ames was down over $35,000 when compared to January of 2022. 

*List Price to Sale Price Ratio--In February, homes in Ames sold for 97.8% of their asking price. This is the highest ratio for the month of February when looking back over the past 8 years.  In comparison, June's 2022 ratio was 7.1% higher at 104.9%.  

*Absorption Rate--The absorption rate calculates how quickly the inventory turns in months when comparing the current inventory to the current number of sales.  Historically, an absorption rate of 3 months is considered to be strong and 1 month or less was unheard of.  The higher the absorption rate the weaker the market.  The absorption rate has been slowly increasing.  This is the 9th time in the last 10 months in which the absorption rate has weakened. With that being said, February's absorption rate remained unbelievably strong at 1.12 months.