The Iowa State Fair - Nothing Compares, Not Even Real Estate Sales (2017 Version)

The Iowa State Fair - Nothing Compares,
Not Even Real Estate Sales 

Iowa State Fair

The 2017 edition of the ever popular Iowa State Fair started this week. Attendance at the annual 11-day event topped one million for the first time in 2002 and has repeatedly topped one million almost every year since. The record attendance was set in 2015 with 1,117,398 people walking the grounds of the fair. An event the size of this would be a big deal for any State, but especially one the size of Iowa.

A year ago I began to wonder about how much, if any, the fair affects real estate sales in the Des Moines area. So, last year I gathered some data going back three years using numbers from the Des Moines Area Association of REALTORS, and compared the number of accepted offers during the 11-day period before the fair, the 11-day period of the fair, and the 11-day period after the fair. I updated the chart with 2016 numbers and the results for the four previous years are;

State Fair

Number of Accepted Offers

11-Day Period 

Before

During

After

2016

484

396

511

2015 

517

394

495

2014 

440

358

436

2013 

426

342

398

 

As you can see, the numbers clearly show a distinct decline in accepted offers during the 11-days of the fair in each of the four years with the percentage of decline being fairly (no pun intended) consistent each year. The average decline in accepted offers between the 11-day period before the fair starts compared to the 11-day period of the fair over the last four years is a hefty 20%. The rebound during the 11-day period after the fair was consistent as well, averaging an increase of 24% in accepted offers.

How does this information help you? Since there are fewer offers written during the State Fair, as a buyer, you will have less competition. Less competition can mean more negotiating power; and with the mobile technology our agents have available, your EXIT Realty North Star agent can effectively write an offer, present it and negotiate on your behalf while you enjoy the sights, sounds, and tastes of Iowa’s great State Fair.

Enjoy the fair!

Jon Niemeyer is the Broker/Owner of EXIT Realty North Star, 1039 Sunset Dr Norwalk, IA 50211. We provide full service real estate services to the Des Moines, Iowa metro area. Find links and contact information for Jon at JonNiemeyer.com.

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