November 14, 2021
Real Estate

‘It’s kind of a jungle’: Quad-Cities housing market ‘bananas’ | Business & Economy

Their story isn’t uncommon statewide in the housing market, where people are seeing homes, especially entry-level homes, fly off the market. Buyers are entering bidding wars for a home, and sellers are opting to wait until they find a house until they list theirs.

“If you list it, it will sell,” said Nicole Moran, a Quad-Cities Realtor with Realty One Group Opening Doors.

In May 2016, a house in Rock Island or Scott counties was on the market for an average of 59 days. In May 2021, that average was nearly halved to 36 days, according to data kept by the Quad City Realtors Association.

The price of a home has also increased — from January to May this year, the median Scott County or Rock Island County sold home price was $159,900. In 2020 that was $145,000 and in 2016, the median home sale price was $127,000.

In Iowa, the supply of houses isn’t as low as on the west coast,…

Read full article here: qctimes.com