Keith Arneson

As the warm spring weather and longer days bring renewed energy to day-to-day life, it also does the same for the real estate market.

The Ames Market saw an almost 40-percent increase in new listings and sold listings in March compared to February. We also saw an increase in the median list price and median sale price. Some of the increased activity could be attributed to interest rates, which were friendlier in March. The Federal Reserve seems resolute continue its battle with inflation that we’ve seen over the past year, but may need to apply caution in view of over-shooting and doing unnecessary damage to the financial markets in the wake of recent bank failings — Silicon Valley Bank, namely. Balancing these opposing economic concerns will likely keep rates in a state of limbo near term.

While the national economic landscape is a little uncertain, the Ames real estate market remains strong and resilient. Median sale prices are still trending up, the median days on market is still around a week and more new listings are coming to market each week.

In 2008, when the mortgage crisis hit, national home values fell by 9.5-percent, while home values in Ames increased by 1-percent. Don’t miss out on opportunities by overweighting national economic volatility that may not actually reflect the local market. Reach out to your Friedrich Agent today and get the real scoop.