Facts & TrendsR e a l E s t a t e

Ruhl&Ruhl Realtors Summer 2014

We have been on a roller coaster ride for the past 18 months, with residential sales roaring ahead, then falling back and now slowly, but steadily, stabilizing and gradually improving. For the first six months of 2014, the total number of properties sold in our eastern Iowa, northwestern Illinois and southwestern Wisconsin region is down 4%, from 6,949 properties sold in 2013 to 6,683 properties sold in 2014. Sales volume for the total region is also down 4% to $1,065,971,100. As always, there is considerable variation from market to market, as shown on the Regional Real Estate Activity Chart on page 2. Ruhl&Ruhl Realtors had predicted a flat year in 2014 compared to 2013 and we are hopeful that continued market and economic improvement will result in that end.

“We appear to have reached a plateau that absent an increase in the market for jobs, income growth or looser underwriting standards, there are no evident drivers of a sustained recovery in housing unit sales,” said Steve Murray, CEO of REAL Trends. “The recent increase in inventory will help, as will the recovery in the general economy.” Inventory is up in most of our markets – see the Regional Real Estate Activity Chart on page 2. New construction inventory is up 15% in the region while sales of new homes are down 3% compared to last year (see details by market on page 6). Prices are also rising slowly in most of our markets. See the percent change in home

prices by market on page 4. Overall, things are trending in the right direction and from our vantage point, stability is good, and slow and steady growth is great.

Burlington AreaListing Inventory: There are 272 homes and condominiums listed for sale in Burlington, Iowa and the surrounding area, 19% more than the same time last year when there was 229 properties for sale.Properties Sold: Less than 1% fewer residential properties sold in the first half of 2014 than the first half of 2013, comparing 270 sales last year to 269 sales in the first half of this year.Average Sales Price: The average sales price was $97,600, a 9% decrease from the average sales price in the first half of 2013 of $107,200.Residential Sales Volume: Sales volume was down 9%, a decrease from $28,953,600 through June 2013 to $26,252,700 through June 2014.

Cedar Rapids AreaListing Inventory: There are 1,884 residential properties listed for sale in the Cedar Rapids area, 3% less than the same time last year when there were 1,936 properties listed.Properties Sold: Through June this year 1,848 properties sold, 6% less than the 1,962 that sold through June 2013.Average Sales Price: The average sales price was $163,900 through June 2014, 6% less than the average sales price of $174,100 through June 2013.Residential Sales Volume: Sales volume decreased 8%, from $329,225,600 in the first half of 2013 to $302,887,500 in the first half of 2014.

Clinton, Camanche & FultonListing Inventory: There are 3% more properties listed for sale in the Clinton,

Housing Market Stabilizing

RuhlHomes.com • 1

Caroline RuhlPresident

RuhlHomes.com

IN THIS ISSUE:page 3Ruhl&Ruhl Leading the Mobile Race with

page 4Home Prices Rising Steadily in our Region

page 6Ruhl&Ruhl Realtors Opens Second Office in Cedar Rapids

page 7Dwindling Condo Sales Stall New Construction Market

Market Stabilizing continued on page 2

“The recent increase in inventory will help, as will the recovery in the

general economy.”

2 • RuhlHomes.com

Camanche and Fulton area; comparing 337 current listings to 328 properties for sale last year.Properties Sold: 6% more properties sold in the first half of 2014, an increase from 190 sales in 2013 to 202 sales in the first half of 2014.Average Sales Price: The average sales price through June 2014 was $102,500, a 9% increase from the average sales price of $94,200 through June 2013.Residential Sales Volume: Sales volume was up 16% through June 2014, from $17,904,500 in the first half of 2013 to $20,702,300 in the first half of 2014. This follows a 24% decrease in sales volume from the first half of 2012 to the first half of 2013.

DeWittListing Inventory: DeWitt’s listing inventory is down 6%, from 47 properties listed for sale last year to 44 properties currently on the market.Properties Sold: 53 properties sold and closed during the first half of 2014, a 26% increase compared to 42 sales in the first half of 2013.Average Sales Price: The average sales price of homes sold through June 2014 was $154,100, 2% more than the first half of 2013 when the average sales price was $151,100.Residential Sales Volume: Sales volume increased 29% in the first half of 2014, from $6,345,100 in 2013 to $8,165,300 in 2014. This follows a 27% decrease in sales volume from 2012 to 2013.

Dubuque AreaListing Inventory: There are 514 residential properties listed for sale in the Dubuque region; a 16% decrease from the same time last year when there were 615 properties for sale.Properties Sold: 8% fewer properties sold in the first half of 2014; a decrease from 482 closings through June 2013 to 443 closings through June 2014.Average Sales Price: The average sales price of homes sold through June 2014 was $167,000, a 5% increase over the average sales price of $159,300 through June 2013.Residential Sales Volume: Sales volume for the first half of 2014 was $73,994,000, down 4% from the same period in 2013 when sales volume was $76,778,700.

Galena & Surrounding AreaListing Inventory: There are 411 properties for sale in Galena, Illinois and the surrounding area; 1% more than the same time last year when there were 407 listings.Properties Sold: There was a 12% increase in the number of residential properties sold in the first half of 2014, comparing 50 sales in 2013 to 56 sales in 2014.Average Sales Price: The average sales price was $195,700 through June 2014, 13% more than last year when the average sales price was $172,600.Residential Sales Volume: Sales volume was up 27% for the first half of 2014, an increase from $8,630,900 through June 2013 to $10,960,900

through June 2014.Illinois Quad Cities

Listing Inventory: The number of properties for sale in the Illinois Quad Cities is up 1%; from 893 listings last year to 899 listings currently on the market.Properties Sold: Through the second quarter of 2014, 4% more properties sold, comparing 874 sales through June 2013 to 909 sales through June 2014.Average Sales Price: The average sales price was down 1%, from $107,100 through June 2013 to $106,000 through June 2014.Residential Sales Volume: Sales volume increased 3% in the first half of 2014, from $93,575,200 to $96,317,100.

Iowa Quad CitiesListing Inventory: There are 750 homes and condominiums listed for sale in the Iowa Quad Cities, 1% more than the same time last year when there were 743 properties for sale.Properties Sold: 7% fewer properties sold through the second quarter of 2014, a decrease from 1,140 sales in the first half of 2013 to 1,059 sales in the first half of this year.Average Sales Price: The average sales price increased 3%; from $177,200 through June 2013 to $182,500 through June 2014.Residential Sales Volume: Sales volume went down 4% from $201,995,200 through the second quarter of 2013 to $193,316,000 through the second quarter of 2014.

Market Stabilizing continued on page 3

2014 Regional Real Estate Activity

Average 2014Sales Price

2014 Number

Sold

% Change in Average

Sales Price from 2013

% Change in Number Sold from

2013

2014Sales

Volume

Active Listing Count

2014Months of Inventory

% Change in Active Listings

from 2013

% Change in Sales Volume

from 2013Burlington AreaCedar Rapids AreaClinton/Camanche/FultonDeWittDubuque AreaGalena & Surrounding AreaIllinois Quad CitiesIowa Quad CitiesIowa City AreaMaquoketa/Preston/BellevueMuscatine/Wilton AreaSouthwest WisconsinWashington AreaRegional Total

$97,600$163,900$102,500$154,100$167,000$195,700$106,000$182,500$209,800$115,400$121,000$124,300$104,500$159,500

-9%-6%+9%+2%+5%

+13%-1%+3%+1%+3%-3%

+13%+21%

0%

0%-6%+6%

+26%-8%

+12%+4%-7%-7%

-17%-3%

+11%-3%-4%

-9%-8%

+16%+29%

-4%+27%

+3%-4%-6%

-14%-7%

+25%+18%

-4%

6.04.6

10.53.85.1

22.34.43.15.56.55.3

37.3 8.1

N/A

+19%-3%+3%-6%

-16%+1%+1%+1%+1%

+10%-6%-1%-2%-1%

2691,848

20253

44356

9091,0591,250

69235221

696,683

2721,884

33744

514411899750

1,334110210434

987,297

$26,252,700$302,887,500

$20,702,300$8,165,300

$73,994,000$10,960,900$96,317,100

$193,316,000$262,306,200

$7,965,600$28,426,900$27,470,400

$7,207,900$1,065,971,100

Through June

Market Stabilizing continued from page 1

RuhlHomes.com • 3

Iowa City AreaListing Inventory: The number of properties for sale in Iowa City is up 1%, an increase from 1,322 in 2013 to 1,334 properties currently on the market.Properties Sold: The number of properties sold decreased 7% from 1,343 properties sold through the first half of 2013 to 1,250 sales closed through the first half of 2014.Average Sales Price: The average sales price was $209,800; a 1% increase from the first half of 2013 when the average sales price was $207,100.Residential Sales Volume: Sales volume decreased 6%, from $278,095,000 through June 2013 to $262,306,200 through June 2014.

Maquoketa, Preston & Bellevue

Listing Inventory: There are 110 properties for sale in the Maquoketa, Preston, and Bellevue area, 10% more than the same time last year when there were 100 properties listed for sale.Properties Sold: 17% fewer properties sold during the first half of 2014, a decrease from 83 sales in 2013 to 69 sales in 2014.Average Sales Price: The average sales price of homes sold through June

2014 was $115,400, 3% more than the average sales price of $111,700 through June 2013.Residential Sales Volume: Sales volume shrank 14%, from $9,273,600 in the first half of 2013 to $7,965,600 in the first half of 2014.

Muscatine & Wilton AreaListing Inventory: There are 210 homes and condominiums listed for sale in the Muscatine and Wilton area, 6% fewer than the same time last year when there were 224 properties for sale.Properties Sold: 3% fewer residential properties sold in the first half of 2014, comparing 243 sales last year to 235 sales in the first half of this year.Average Sales Price: The average sales price was $121,000, a 3% decrease from the average sales price in the first half of 2013 of $124,300.Residential Sales Volume: Sales volume was down 7%, from $30,539,900 through June 2013 to $28,426,900 through June 2014.

Southwest WisconsinListing Inventory: There are 434 properties for sale in the southwest Wisconsin region, a 1% decrease compared to the same time last year when there were 438 listings.Properties Sold: There was an 11%

increase in the number of residential properties sold in the first half of 2014, comparing 199 properties sold in 2013 to 221 properties sold this year.Average Sales Price: The average sales price was $124,300 during the first half of 2014, 13% higher than the first half of 2013 when the average sales price was $110,300.Residential Sales Volume: Sales volume was up 25%, an increase from $21,958,700 through June 2013 to $27,470,400 through June 2014.

Washington AreaListing Inventory: There are 98 properties for sale in Washington, Iowa and the surrounding area, a 2% decrease from the same time last year when there were 100 properties for sale.Properties Sold: There was a 3% decrease in the number of residential properties sold; comparing 71 properties sold in 2013 to 69 properties sold through the first half of this year.Average Sales Price: The average sales price was $104,500, 21% higher than the average sales price of $86,400 in the first half of 2013.Residential Sales Volume: Sales volume was up 18%, an increase from $6,133,100 through June 2013 to $7,207,900 through June 2014.

Market Stabilizing continued from page 2

Ruhl&Ruhl Leading the Mobile Race with mobileRuhl The universe is going mobile. From cruising Facebook and tweeting to searching restaurants on Yelp and the latest news on Google – it’s more likely to happen on a smartphone. Enter – the latest technology to search for homes on the go. mobileRuhl, a real estate app from Ruhl&Ruhl Realtors, allows users to search current listings and those homes that have recently sold from their smartphone. It’s available for free for iPhone, iPad and Android devices at

the App Store or Android Market. According to REAL Trends, some 87% of smartphone owners access the internet or email on their handheld. When asked

what device they normally use to access the internet, 25% of smartphone owners say that they mostly go online using their phone, rather than with a computer. “We launched mobileRuhl to stay in tune with consumer demands and give our consumers a whole new way to interact with their Realtor and search all listings on the market,” said Caroline Ruhl, President of Ruhl&Ruhl Realtors, adding that the company has mobileRuhl, the app, as well as a mobile-friendly version of their website, RuhlHomes.com. In fact, for Ruhl&Ruhl Realtors, mobile access of RuhlHomes.com is up. From January 1 through June 30, 43% of those users engaging with RuhlHomes.com were doing so from a mobile device or tablet. This is up from only 21% in 2013. In addition, sessions on mobileRuhl, the app, were up 76% over last year. “Mobile visits to our website continue to keep growing so we see the importance of investing in this medium and providing a better tool for our clients

to search for homes,” Ruhl added. mobileRuhl provides access to all properties for sale throughout eastern Iowa, northwestern Illinois and southwestern Wisconsin. These include all homes for sale, not just Ruhl&Ruhl listings. Other features include:

• Draw your own custom search area right on the map!• Search by any keyword in the property description (ex: river view). • Search the properties nearest you through GPS or by price, number of bedrooms or bathrooms, and properties with open houses.• See full screen photos, price, features, maps, taxes and more!• Display restaurants, retail centers, and other amenities to see locations in relation to listings.• View real time market statistics.

Download mobileRuhl today. For more details, contact your agent or visit RuhlHomes.com/mobileRuhl.

4 • RuhlHomes.com

Regional Residential Real Estate Activity

Burlington Area (Burlington Board of Realtors)Cedar Rapids Area (Cedar Rapids Area Assoc. of Realtors)Southeast Cedar RapidsNortheast Cedar RapidsSouthwest Cedar RapidsNorthwest Cedar RapidsHiawatha & RobinsMarionEast of I-380: Mechanicsville, Anamosa, Mt. Vernon, Lisbon, etc.West of I-380: Walford, Fairfax, Atkins, etc.Corridor Area: Solon, Ely, SwisherCondominiumsClinton, Camanche & Fulton (Clinton Board of Realtors)DeWitt (Quad City Area Realtor Assoc.)Dubuque Area (Dubuque Board of Realtors)DubuqueNorth, South and West DubuqueIllinoisWisconsinGalena & Surrounding Area (Realtor Assoc. of Northwest IL)Illinois Quad Cities (Quad City Area Realtor Assoc.)Rock IslandMilan & Rural Rock Island CountyMolineCoal Valley, Rural Moline, MiscellaneousEast Moline & SilvisPort Byron, Upper Rock Island CountyMercer CountyHenry CountyCondominiumsIowa Quad Cities (Quad City Area Realtor Assoc.)DavenportBettendorf & RiverdaleBlue Grass, Buffalo, Durant & WalcottLeClaire, Pleasant Valley & PrincetonNorth Scott CountyMiscellaneousCondominiumsIowa City Area (Iowa City Area Assoc. of Realtors)Iowa CityCoralvilleNorthwest Iowa CityNortheast Iowa CitySoutheast Iowa CitySouthwest Iowa CityCorridor AreaMiscellaneousCondominiumsMaquoketa, Preston & Bellevue (Jackson County MLS)Muscatine & Wilton Area (Muscatine Board of Realtors)MuscatineWiltonMuscatine OutlyingCondominiumsWashington Area* (English River MLS)Wisconsin - Grant & Lafayette Co. (S. Central Wisconsin)MLS)(This representation is based in part on data supplied by the REALTOR Associations or their Multiple List ing Services. Neither the Boards nor their MLS guarantee or is in any way

responsible for its accuracy. Data maintained by the Boards or their MLS may not reflect all real estate activity in the market.) *Washington Area includes Mount Pleasant and Fairfield.

Through June

The eastern Iowa and northwestern Illinois housing markets continue to show strength – with prices slowly but steadily going up in most communities. Nationally, home prices have increased 5.75% in the last five years. Overall in our local markets the gains are not as large, but we also didn’t have the drastic decline in home prices that other markets across the nation suffered. Home prices are up: 6.85% in Dubuque; 2.45% in Iowa City; 1.28% in the Quad Cities. Home prices are have dipped slightly by 0.69% in Cedar Rapids. This compares to other cities: Des Moines down 2.16% and Chicago, IL down 16.82%. This data is provided by the Federal Housing Finance Agency (FHFA) for the 1st quarter of 2014 (see chart and website below).

The first quarter was negatively impacted by extremely cold, snowy weather, but continued to push higher, said FHFA Principal Economist Andrew Leventis, adding that modest inventories of homes available for sale likely played a significant role in driving the price increase. Locally, a shortage of inventory in some areas and some price ranges has increased prices and made a stable market – good for buyers and sellers. “The increase in home price appreciation has been modest but steady,” said Caroline Ruhl, President of Ruhl&Ruhl Realtors. “We tend to be a more stable market without the extreme highs and lows, which makes it a good area to buy or sell a property, as well as invest in real estate.”

Home Prices Rising Steadily in the Region

Information courtesy of Federal Housing Finance Agency (FHFA) for first quarter 2014. FHFA stats always run one quarter behind. Their full report is accessible at www.fhfa.gov. *Rankings based on annual percentage change in house prices.

Cedar Rapids, IADavenport-Moline-Rock Island, IA-ILDes Moines-West Des Moines, IADubuque, IAIowa City, IAUSA

242

189

168

214175

-0.74%

+0.79%

+1.46%

+0.26%+1.13%+6.62%

-0.69%

+1.28%

-2.16%

+6.85%+2.45%+5.75%

Metropolitan Statistical Areas (MSAs) 2014 1st Quarter National Ranking of 280 MSA’s*

Percent Change in House Prices1 Year 5 Year

201420132012201120102009200820072006200520042003200220012000

1,0591,140977901

1,064884

1,0291,1711,2181,2001,2571,1391,1371,1541,059

750743934973972957

1,0811,1081,107960989931813843700

909874840733833749907

1,0111,0541,1021,074971996997

1,028

899893949

1,1331,067981

1,079991985885959835844913726

1,9682,0141,8171,6341,8971,6331,9362,1822,2722,3022,3312,1102,1332,1512,087

1,6491,6361,8832,1062,0391,9382,1602,0992,0921,8451,9481,7661,6571,7561,426

Sales Listings

Mid-Year Comparison of Quad Cities Real Estate Activity

IA IAIL ILTotals Totals

RuhlHomes.com • 5

Regional Residential Real Estate ActivityCurrent

MLS Listings% of Active

Listings2014 Avg.

Sales Price2014 Sales

Volume2014

# Sold% of Unit

SalesSales/

List2013

# Sold2013 Avg.

Sales Price2013 Sales

VolumeBurlington Area (Burlington Board of Realtors)Cedar Rapids Area (Cedar Rapids Area Assoc. of Realtors)Southeast Cedar RapidsNortheast Cedar RapidsSouthwest Cedar RapidsNorthwest Cedar RapidsHiawatha & RobinsMarionEast of I-380: Mechanicsville, Anamosa, Mt. Vernon, Lisbon, etc.West of I-380: Walford, Fairfax, Atkins, etc.Corridor Area: Solon, Ely, SwisherCondominiumsClinton, Camanche & Fulton (Clinton Board of Realtors)DeWitt (Quad City Area Realtor Assoc.)Dubuque Area (Dubuque Board of Realtors)DubuqueNorth, South and West DubuqueIllinoisWisconsinGalena & Surrounding Area (Realtor Assoc. of Northwest IL)Illinois Quad Cities (Quad City Area Realtor Assoc.)Rock IslandMilan & Rural Rock Island CountyMolineCoal Valley, Rural Moline, MiscellaneousEast Moline & SilvisPort Byron, Upper Rock Island CountyMercer CountyHenry CountyCondominiumsIowa Quad Cities (Quad City Area Realtor Assoc.)DavenportBettendorf & RiverdaleBlue Grass, Buffalo, Durant & WalcottLeClaire, Pleasant Valley & PrincetonNorth Scott CountyMiscellaneousCondominiumsIowa City Area (Iowa City Area Assoc. of Realtors)Iowa CityCoralvilleNorthwest Iowa CityNortheast Iowa CitySoutheast Iowa CitySouthwest Iowa CityCorridor AreaMiscellaneousCondominiumsMaquoketa, Preston & Bellevue (Jackson County MLS)Muscatine & Wilton Area (Muscatine Board of Realtors)MuscatineWiltonMuscatine OutlyingCondominiumsWashington Area* (English River MLS)Wisconsin - Grant & Lafayette Co. (S. Central Wisconsin)MLS)

2721,884

212250175144

41205226202127302337

44514339121

4113

411899143

58158

32109

4388

20365

750386125

3844333589

1,334331

96146

46417965

195335110210126

13601198

434

11%13%

9%8%2%

11%12%11%7%

16%

66%24%

8%2%

16%6%

18%4%

12%5%9%

23%7%

51%17%

5%6%4%5%

12%

25%7%

11%3%3%6%5%

15%25%

60%6%

29%5%

$97,600$163,900

164,700161,700137,600136,200258,500204,900149,200129,800276,400140,000

$102,500$154,100$167,000

170,600153,600154,700150,200

$195,700$106,000

80,900120,800103,700115,50099,300

177,000103,200

82,800133,200

$182,500129,500311,000178,000227,400221,400

91,700159,000

$209,800251,200303,700278,300147,900164,400156,600300,000160,900160,200

$115,400$121,000

125,500152,700

93,700123,600

$104,500$124,300

$26,252,700$302,887,500

27,010,20043,019,90027,115,90019,205,400

9,565,00047,546,80026,560,70018,432,30031,785,10052,646,200

$20,702,300$8,165,300

$73,994,00059,710,00010,293,200

2,939,2001,051,600

$10,960,900$96,317,100

12,456,0007,850,000

22,605,4003,696,000

13,105,9006,372,7005,364,600

18,738,1006,128,400

$193,316,00067,868,90071,220,000

5,341,50014,782,40011,736,0003,760,300

18,606,900$262,306,200

79,887,60027,632,70035,070,000

4,733,9003,617,700

10,807,20012,001,50024,938,20063,617,400$7,965,600

$28,426,90019,574,800

2,595,6004,403,1001,853,400

$7,207,900$27,470,400

2691,848

164266197141

37232178142115376202

53443350

6719

756

909154

65218

32132

3652

17446

1,059524229

30655341

1171,250

31891

12632226940

155397

69235156

17471569

221

9%14%11%7%2%

13%10%

8%6%

20%

79%15%

4%2%

17%7%

24%4%

15%4%6%

19%4%

49%22%

3%6%5%4%

11%

25%7%

10%3%2%6%3%

12%32%

66%7%

21%6%

93%98%96%97%98%97%98%98%96%96%99%99%94%92%94%94%92%93%88%81%95%97%95%95%98%95%96%94%96%96%97%97%98%96%96%97%98%97%98%97%97%99%95%97%95%98%97%99%93%96%96%95%94%96%95%87%

2701,962

181277170143

45252218148120408190

42482368

91111250

874169

67203

36854348

17053

1,140609215

52405633

1351,343

325109143

31206746

159443

83243174

21371171

199

$107,200$174,100

159,400178,600141,000129,700252,100189,600153,700150,700279,100146,900$94,200

$151,100$159,300

165,300142,300104,500152,400

$172,600$107,100

88,000110,900101,700145,600

94,700171,000107,500

84,900121,500

$177,200140,600290,400172,100237,000199,800106,700154,100207,100260,100293,500274,600158,700133,500155,400330,700147,000148,400

$111,700$124,300

123,000123,100131,500154,000$86,400

$110,300

$28,953,600$329,225,600

28,860,40049,465,70023,971,00018,546,40011,345,20047,778,60033,513,90022,308,60033,497,40059,938,400

$17,904,500$6,345,100

$76,778,70060,848,40012,951,600

1,149,8001,828,900

$8,630,900$93,575,200

14,868,7007,429,900

20,637,2005,242,8008,053,5007,353,0005,157,800

18,394,7006,437,600

$201,995,20085,624,50062,435,500

8,948,4009,478,300

11,189,7003,521,100

20,797,700$278,095,000

84,516,80031,990,20039,263,300

4,919,4002,669,800

10,412,70015,213,50023,369,10065,740,200$9,273,600

$30,539,90021,397,300

2,584,5004,864,5001,693,600

$6,133,100$21,958,700

(This representation is based in part on data supplied by the REALTOR Associations or their Multiple List ing Services. Neither the Boards nor their MLS guarantee or is in any way responsible for its accuracy. Data maintained by the Boards or their MLS may not reflect all real estate activity in the market.) *Washington Area includes Mount Pleasant and Fairfield.

6 • RuhlHomes.com

Regional New Construction Home SalesActive

Inventory 6/30/12

Active Inventory

6/30/14

Active Inventory

6/30/13

% Change in Inventory

from 2013Sales2012

Sales2014

% Change in Sales

from 2013Sales2013

Cedar Rapids Area Houses Condos/VillasDubuque Area Houses Condos/VillasIllinois Quad Cities (Rock Island County) Houses Condos/VillasIowa Quad Cities (Scott County) Houses Condos/VillasIowa City Area Houses Condos/VillasTotal Regional Combined

1821146869462322

517884444

1379641

498

133755855332212

210864541

216138

78502

+23%+45%

-7%+4%+9%-5%

-50%0%

-60%+21%+38%

+2%+15%+22%

+4%+15%

14593523433

1321

1078225

20411292

493

+1%-9%

+17%+18%

+9%+300%

+33%+50%

0%+3%+9%

-16%-12%+4%

-30%-3%

163109

54573621

624

1046242

249168

81579

14685614036

4431

1108921

18011664

480

15896622624

21410

41148232

205106

99517

Through June

Ruhl&Ruhl Realtors Opens Second Office in Cedar Rapids Ruhl&Ruhl Realtors has opened their second Cedar Rapids office located across the street from the NewBo City Market in downtown Cedar Rapids. The new state of the art office is at 1117 3rd Street SE, Cedar Rapids, IA. Ruhl&Ruhl Realtors opened their first office in the Cedar Rapids area in September of 2010. “Our second location will enable our Realtors to meet the needs of their clients even more effectively,” said Caroline Ruhl, President of Ruhl&Ruhl Realtors. The company celebrated with a grand opening on Monday, June 23rd. “We are really excited about the opportunity to build our business and be a part of this area,” said Ollie Dent, Manager of the Cedar Rapids Ruhl&Ruhl Realtors offices. “This will just be a great space to showcase our technology, service and great people.” Ruhl&Ruhl Realtors has been serving the region since 1862. The 290 agent

company is a family-owned business and Caroline Ruhl is the 4th generation of Ruhl’s to lead the organization. Her son, Chris Beason, broker-owner and the co-manager of the company’s Bettendorf Office, is the 5th generation. Ruhl&Ruhl Realtors, the largest privately-owned real estate company in Iowa, has other residential sales offices located in Bettendorf, Burlington, Cedar Rapids, Clinton, Davenport, DeWitt, Dubuque, Iowa City, Maquoketa, Muscatine and Washington, Iowa; and in Moline, Illinois. The company belongs to 13 different Multiple Listing Services (MLSs) and properties for sale in all these markets are available to be searched by the public on Ruhl&Ruhl’s website at RuhlHomes.com or on the company’s app, mobileRuhl. In addition the company provides information on sold properties in all their markets on their website – RuhlHomes.com. The people at Ruhl&Ruhl Realtors

are committed to making the home buying and home selling experience easy, fun and hassle free. “Our clients need sales associates they can trust who will be their knowledgeable advocates, guiding them through the home sale or home purchase process. Our people really care about our clients and strive to exceed expectations. At Ruhl&Ruhl Realtors, our people are the difference,” said Ruhl.

Combined Iowa & Illinois Quad Cities MLS Statistics2010 2011 2012 20142013 % Change

2013 vs. 2014Current MLS ListingsAverage Sales PriceTotal Sales VolumeTotal # of Sales YTD

2,039$136,400

$258,757,9001,897

2,106$132,600

$216,732,1001,634

1,883$142,800

$259,519,2001,817

1,649$147,200

$289,633,1001,968

1,636$146,800

$295,570,4002,014

+1%0%

-2%-2%

Through June

Ruhl&Ruhl’s Second Cedar Rapids Location

RuhlHomes.com • 7

New Housing Starts20082011 2012 20142013 % Change

2013 vs. 2014Burlington AreaBurlingtonWest BurlingtonCedar Rapids AreaCedar RapidsMarionRural Linn CountyHiawatha & Mechanicsville AreasDubuque AreaDubuqueEast DubuqueGalenaJo Daviess CountyPeostaSurrounding Dubuque AreaIllinois Quad CitiesMoline & Coal ValleyRock IslandEast Moline & HamptonColonaPort ByronGeneseoRural Rock Island County & MilanSilvisWhiteside CountyIowa Quad CitiesDavenportBettendorfRural Scott CountyEldridge & Long GroveLeClaire & PrincetonBlue Grass - city ofIowa City AreaIowa CityCoralvilleNorth LibertyRural Johnson CountyWest BranchWilliamsburg, Wellman & KalonaWest LibertyMuscatine AreaMuscatineMuscatine CountyWiltonOther AreasClintonDeWittMaquoketa, Preston & BellevueWashington Area*Total Regional StartsDes Moines Area**

220

247135

772510

16054

0197

896512

11434

161113

18056662122114

16047197417

1027421

14923

N/A835N/A

770

2331178821

7188

6310

164

104641114

2007

122

16200

5970262121

3236

75298429

712

010

631

142291

952881

1275

253153

602713

16239

70

16109050

517

0412

1227

2024689301519

3225

85159824

120

16295

2467

101

9441,042

12111

249107

903715

16748

10

178

9366

976

1011

160

16282

4881662658

3203

76205736

671

132

101

112441

1,0031,049

0%-36%

+400%+2%

+43%-33%-27%-13%

-3%-19%

+600%0%

-6%+25%

-3%-24%-44%

+143%-100%

-60%0%

+100%-25%

+200%-56%-28%

-4%+10%-55%-42%-67%

0%+11%+12%-25%+72%-33%-83%-71%

-100%+23%

0%-10%

+400%+118%+200%

+75%+150%

0%-6%-1%

Source: Municipal offices. There may be additional new homes built which are not included with this data. *Des Moines Area and Washington Area were recently added and little or no past data is available.**Des Moines Area is comprised of Adel, Altoona, Ankeny, Clive, Des Moines, Indianola, Johnston, Pleasant Hill, Polk City, Urbandale, Waukee, & West Des Moines.

Through June

Condo Sales Stall Market continued on page 8

A modest increase in new house sales has been offset by a continued reduction in the number of new condos sold across the region in 2014. Multiple Listing Services report a 2% increase in house sales and a 12% decrease in condo sales, combining for an overall unit sales decrease of 3% versus the same period last year. New home sales across the region accounted for about 1 in every 8 home purchases, up from 1 in 11 for all of 2013. Unit inventory increased 15% above 2013 and is at the highest mid-year level since 2011. Based on the first six month’s sales, the region has 6.9 months of new house inventory and 8.0 months of new condo inventory available. Please see the charts on pages 6 and 7 for local details on sales, inventory and new housing starts. The price breakdown for new house and condo purchases for the first six months of 2014 reflects the impact of increased building costs, as compared to earlier reports, and is as follows:

House purchases accounted for 69% of sales as the continued drop in condo sales left them at 31% of 2014 sales. Ranch style homes continue to be the regional favorite, accounting for 72% of sales and 78% of inventory. These figures reveal that buyer acceptance of other styles, primarily two-story houses, is growing across the region. Ranches were only 45% of the QCA market. While regional new construction sales were down, Ruhl&Ruhl Realtors continued to out-perform the market; reporting a 16% increase in the number of closed transactions and a 23% increase in sales volume of new homes. Following is a brief summary of activity in each or the major market areas:CEDAR RAPIDS: Unlike much of the region, house sales were down and condo sales up, combining for a YTD sales increase of 1 overall unit. Overall unit inventory is up 23% versus 2013.DUBUQUE: Sales of both houses and condos grew for a combined increase of 18% for the first six months of 2014. House sales $225-$400K made up 64% of sales. Overall unit inventory is up 4%.IOWA CITY: House sales rose slightly, but condo sales dropped 30%, for an overall

Dwindling Condo Sales Stall New

Construction Market

Condos: Below $200K = 64% $200-$300K = 30% Above $300K = 6%

Houses: Below $300K = 46% $300-$400K = 35% Above $400K = 19%

Corporate Relocation Center5403 Victoria Avenue, Suite 100Davenport, IA 52807

ADDRESS SERVICE REQUESTED

Caroline RuhlPresident

RuhlHomes.com

The Largest Privately-Owned Real Estate Company in Iowa!

For further information or to be added to our mailing list, contact Caroline Ruhl or Veronica Pianca • 563.355.74745403 Victoria Avenue, Suite 100 • Davenport, Iowa 52807-3925 • CarolineRuhl@RuhlHomes.com or VeronicaPianca@RuhlHomes.com

8 • RuhlHomes.com

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Condo Sales Stall Market continued from page 7decrease of 12%. The North Liberty segment saw the largest sales losses, while the outlying markets in the Iowa City area experienced the greatest gains. Overall, inventory has increased by 15% in 2014.QUAD CITIES: While house sales

increased 10%, condo sales fell by 15%, leaving the market with a 4% overall increase. This market had 52% of all house sales above $400K and 100% of all condo sales above $300K reported across the entire region. Overall, inventory is up 12% compared to the same time last year. Predictions of stable sales for 2014

appear to be accurate across the region, as the new homes market continues a slow recovery. However, renewed interest from developers and builders in new projects helps raise the interest level of the entire marketplace and should lead to exciting new products to satisfy pent-up consumer demand in the future.