Record Year for Mahaska County Real EstateIn 2012 the entire nation saw the housing market begin to recover and, at the beginning of 2013, that trend was expected to continue. However, the improving economy and low interest rates contributed to the recovery accelerating at a faster pace than anticipated according to the National Association of Realtors®. Chris Roach, Broker at Oskaloosa’s Hawkeye Real Estate, concurs.
According to the Multiple Listing Services (MLS) statistics for Mahaska County, there were 606 real estate “sides” in 2013, up 18% from 2012; 307 total listings sold, up 17% from 2012; and MLS volume of $60.2 million, up 32% from 2012.
To understand these results, Roach explains: “The number of listings is exactly that; it’s the number of listed properties that sold in our MLS. When that property sells, the transaction has two sides; a listing side and a buying side. The sales volume includes both sides of a transaction. So, for example, if a house sells for $100,000, there is actually $200,000 in sales volume.”
“We (Hawkeye Real Estate) just completed our 25th year in business and Hawkeye ended up having its best year ever when reviewing sales and volume,” continued Roach. “In Mahaska County, Hawkeye’s market share was 56% with a total sales volume of $33.8 million.” Roach explained that market share is defined as a percentage of total MLS sales volume. “Our last record-breaking year was in 2007 when Hawkeye’s sales volume was $32.2 million,” added Roach.
Roach not only gave credit to the national buying trend and upswing in the economy but also to the Hawkeye agents and support staff who work hard at providing buyers and sellers the services and attention needed for successful transactions.
“When reviewing MLS statistics, Hawkeye ended up having six out of the top eight agents in Oskaloosa when ranking sales volume,” said Roach. “We also had at least three agents achieve their personal best in sales volume ever. Without dedicated real estate professionals, who are very connected with the community and its residents, Hawkeye Real Estate would not be able to celebrate these successes!”
Will this positive trend continue into 2014? Experts from real estate news agencies believe the housing market faces some serious challenges in 2014: higher interest rates, lower inventories, and a skittish economy. “But the market is rolling into the New Year on a positive note,” said Roach who is optimistic for the Oskaloosa and Mahaska County area.
“It’s impossible to predict what the real estate market will do in 2014. There are many variables which come into play,” said Roach. “However, I believe as long as our community continues to invest in itself and economic development remains a high priority for all the community partners, all economic trends will see gains. As overall spending increases, real estate sales should grow. I believe it’s going to be a good year.”