When is the BEST time to buy a HOUSE?
"Let's make some decisions based on facts and not feelings".
I try to be as data-driven as possible. So when I think about what areas have appreciated the most, I could answer that based on demand when people call us and they say they want to live in West Des Moines or Waukee, or they maybe are wanting Waukee schools or anything that's not Des Moines public schools.
I would guess that Beaverdale and the west side of Des Moines have good appreciation. And that's just based on people calling me and saying, "Hey, I want to live in these areas".
So what if we look at the actual data, what is that telling us?
I wanted more of an apples to apple comparison, even though it's still apples to oranges because it's five years apart and the markets are drastically different. We're going to look at ALL closings in January and February of 2022 versus 2017, just a very small snapshot. And I looked at them based on the MLS area that they were in. The data is shown below.
That's some impressive appreciation!!
But maybe you're wondering - when is the best time to buy?
The best time to buy is in the past. And the second-best time to buy is today.
Today sales prices are at an all time high. Will this appreciation continue over the next 5 years?
I wish I knew. I can tell you that 5 years is not a very long period of time to have significant appreciation. The last 5 years have been rather "special" and I wouldn't plan on that level of appreciation.
It's best to be conservative to avoid disappointment.
So I wouldn't expect 43% and definitely not a 158% appreciation in the next five years. Although now that I've said that who knows, maybe it will appreciate 250%?!? That would be great for homeowners, but not so great for home buyers because affordable housing is already a challenge in today's market.
Regardless if you are thinking about making a move and you're not sure if the time is right for you - let us know. My team of experts would be happy to chat about your goals.
WHAT IF YOU COULD USE SOMEONE
ELSE'S MONEY TO BUY YOUR HOME?
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