Storm Lake and Alta, Iowa - June, July , August 2009 Real Estate Market Report Comparision with 2008

2008

40 total properties with the above criteria sold in this period

Days on Market in this period - 27.5% marketed 0 to 30 days, 35% marketed 31-60 days, 2.5% marketed 61-90 days, 7.5% marketed 91-120 days, 27.5% marketed120+ days

Average Days on Market (DOM) was approximately 80

2009

36 total properties sold within the above criteria in this period

Days on Market in this period - 22.2% marketed 0 to 30 days, 33.3% marketed 31-60 days, 8.3% marketed 61-90 days, 13.9% marketed 91-120 days, 22.2% marketed 120+days

Average Days on Market was approximately 87

Summation:

The striking thing about this 3-month block of sales is what little difference there is from last year to this year. None of the numbers are greatly significant, it shows our local market (Storm Lake and Alta) are very stable and have not been negatively impacted by the national downturn. Real estate is a good investment in general, a number of people are purchasing, and selling, we (Realtors) have seen a good year to date. The Storm Lake and Alta housing market is gaining ground overall.

As of August 31, 2009 we had 2.59 months of housing supply for sale in the above markets, this is referred to as the Listing/Absorption rate. 2.59 months is an excellent inventory compared to many markets that have over 12 months housing supply for sale. The supply and demand scenario in our area is excellent at 2.59 months of inventory, this gives buyers a number of properties to choose from but there aren't so many available that it drives the prices down like it has in Minneapolis, Kansas City, Des Moines and most cities in Arizona in general. However, these markets also offer many opportunities, if you are an investor, looking for a second or retirement home or want to move up now is the time to do it in these markets.