news
Real Estate & The Iowa State Fair - Update
A few weeks ago I wrote about a phenomenon that occurs most every year in the Central Iowa real estate market around the time of the Iowa State Fair. Looking back over the previous 8-years at three equal periods of time, the 11 days leading up to the Iowa State Fair, the 11 days during the fair, and the 11 days after the fair, the average number of accepted offers decreased 8% from the period pre-fair, and then increased 16% during the 11 days post-fair. In other words, if you consider the period before the fair as normal, then 8% of the buyers were preoccupied during the fair and didn’t have time to make an offer on a house, but as soon as the fair was over, those 8% got busy and wrote offers on houses along with normal number of buyers, which increased the number of accepted buyers by 16%.  
 
This average was disrupted in 2024. In addition to being lower than normal numbers of accepted offers during all three periods, the period pre-fair was very low, then increased during the fair, and then increased again post-fair. These results are not normal as you can see in the chart below, and I have no explanation why this occurred. I will continue to investigate why this happened and will report it to you if I find a reason, but please let me know if you have any ideas.

 
Norwalk IA Real EstateJon Niemeyer, Broker/Owner/REALTOR® at EXIT Realty North Star. I list and sell real estate in Central Iowa including Norwalk, Des Moines, West Des Moines, Cumming, Indianola, Carlisle, Waukee, Urbandale, Grimes, Clive, Johnston, Ankeny, Altoona, and Pleasant Hill in the Counties of Warren, Polk, Dallas, and Madison. Call Jon Niemeyer at 515-490-4675. 
Here are some other articles you may find useful
4 MIN READ
How Presidential Elections Affect the Real Estate Market

Last week’s poll asked the question, “Do you think the upcoming presidential election affects the real estate market?” and more of my readers said yes than no, but is that actually true? The best way to know for sure is to look back

SHOW MORE
5 MIN READ
Is It Better to Rent or Buy in Today’s Market?

The age-old question of whether to rent or buy a home has become more relevant than ever in today’s fluctuating real estate market. With interest rates climbing, home prices shifting, and rental rates soaring in many areas, prospective homeowne

SHOW MORE
3 MIN READ
Beyond Vacation: Exploring the Surge in Second Home Ownership

When I reminisce about growing up in Iowa, the image of quaint fishing cabins by the lake (most often in Minnesota) instantly comes to mind. These cabins, retreats for dads and grandpas on weekend fishing trips, transformed into lively family retreat

SHOW MORE
4 MIN READ
How Presidential Elections Affect the Real Estate Market

Last week’s poll asked the question, “Do you think the upcoming presidential election affects the real estate market?” and more of my readers said yes than no, but is that actually true? The best way to know for sure is to look back

SHOW MORE
5 MIN READ
Is It Better to Rent or Buy in Today’s Market?

The age-old question of whether to rent or buy a home has become more relevant than ever in today’s fluctuating real estate market. With interest rates climbing, home prices shifting, and rental rates soaring in many areas, prospective homeowne

SHOW MORE