Northwest Iowa — Though the economy took a hit this year the housing market in northwest Iowa has stayed strong, for sellers.
Corey Elgersma, real estate agent for Iowa State Bank Services told KIWA that the last couple of years were interesting and many houses were sold, including in 2022. In fact, he says, they are seeing a low inventory.
Elgersma says that in Sheldon in particular he is seeing a much lower inventory than normal.
Typically Sheldon would have three or four dozen houses for sale, according to Elgersma. He says smaller towns in the area would have five or six homes on the market, this year they had even fewer.
When asked why the inventory was low in the area Elgersma told us when a house goes on the market it has been selling quickly and at or very close to the asking price. He says showings have gone down since many of the houses sell quickly. Elgersma tells us how much houses went for last year.
He says this year the average selling price that he has seen has been about $180,000, so the average asking price has gone up a little bit. These numbers are not official, these are just what Elgersma has seen himself.
Now that it is winter and the cold weather has set in the market has dropped drastically, which is normal according to Elgersma. He says many people don’t want to move when it’s cold out. In the spring it will get busy again Elgersma tells us. The decision to move usually comes in the winter, when people realize they need a bigger home for family get-togethers or a smaller home as their children don’t come home. Whatever the reason, the housing market will get busy again Elgersma says.
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