Riverwalk Brownstone's success raises hopes for downtown Des Moines home sales
By Matt Grohe, Serving the metro since 2003
Downtown Des Moines condo sales have fallen hard with the nationwide real estate slow down a fact which was highlighted in a recent Des Moines Register article entitled "Stagnant condo sales plaugue downtown Des Moines" dated November 19th 2010. The article stated, among other things, that downtown sales were off 75% from their peak in 2006, that only 30 units had closed in 2009, and that 2010 was poised to be only marginally better. In doing a quick check I see that 2010 finished with 29 closed sales out of an inventory of approximately 111. For all you absorption rate folks that's a 3.82 year supply. Pretty dismal on the surface. Pundits, builders, real estate agents and industry insiders querried variously blamed onerous FHA rules, consumer preference, unemployment, sluggish sales of...