Siouxland Magazine - Volume 3 Issue 1

housing 55K sq./ft. of indoor turf primed for athletic
competition. A once ancient vacant lot, is now a
welcoming symbol of strength and a nod to an area
that molded us.
Speaking of sports. A leaky vacated strip mall anchor
became the newly renovated local “DisneyWorld” of
Sports. The ARENA Sports Academy has welcomed
tens of thousands through its doors. A mission
of uplifting youth has been paramount. The staff
believes in creating opportunities for young people
that are greater than sports, while drawing visitors
regionally and nationally. If you build it they will
come, but if you build it right…they will come back.
Marto Brewing, complimented by the newly
constructed Crowne-Marriot, has created a town
square experience with big city feel. One of the best
breweries in the country is found right here. Local
ownership leaves everything on the table in their
dedication to offer excellence.
Ownership at Avid Hotel continues the resurgence
of downtown giving encouragement that outside
investors believe in our progressive growth. The
leadership team at HoChunk are believers in
this premise as they continue to make a positive
impact developing the region’s greatest asset. The
riverfront.
These additions withstood the largest pandemic in
100 years. We look at them and see the heart and
resilience of our community.
– Jeff and Rachel Carlson, RE/MAX Preferred
B
Good news! Existing home sales continue to
trend up during this unprecedented time. Per the
National Association of Realtors, existing-home sales
grew for the fifth consecutive month in October to
a seasonally-adjusted annual rate of 6.85 million –
up 4.3% from the prior month and 26.6% from one
year ago. The numbers are phenomenal! October’s
national price increase marks 104 straight months of
year-over-year gains.
The median existing-home price was $313,000. 16%
more than in October 2019. Total housing inventory
declined to 1.42 million, enough to last 2.5 months.
A record low at this sales pace.More than 7 in 10
homes sold in October 2020.
Interest rates have never been better. As a result,
buyers are purchasing! Sellers anticipating sales,
have closely watched the activity of the market. Their
neighbor’s home sold in two days and they are anxious
to sell.
“A recent sales surge has now offset the spring market
losses,” per Yun with NAR. “With news that a COVID-19
vaccine will soon be available, and mortgage rates
projected to hover around 3% in 2021, I expect the
market’s growth to continue into 2021.” Yun, with NAR,
forecasts existing-home sales to rise by 10% to six
million in 2021.
Properties remained on the market for 21 days in
October. This is down from 36 days in October
2019. 72% of homes sold in October were on the
market for less than a month. First-time buyers were
responsible for 32% of sales in October, up from the
31% in both September 2020 and October 2019. Per
NAR’s 2020 Profile of Home
Buyers and Sellers.
Midwest sales jumped 8.6% to an annual rate of
1,640,000, that’s up 28.1% from a year ago!
Opportunities
for remote work
have current
homeowners
and first-time
buyers wanting
more space.
Last night I had
a conversation
with a client
relocating from
Los Angeles,
her employer is
allowing her to
work remotely. In
her words, “she
wants a simpler
way of life, not
the craziness of
LA, where every
time you pull out of your driveway, you’re not taking
your life in your hands.” A reminder of how great it is to
live here!
– Amy Kakacek, RE/MAX Preferred
Siouxland Magazine | Enjoy / 55