Quad-Cities Lower Inventory But Lower Demand Supports Stable Price!
Updated: 2 hours ago
What Are the Market Signs Telling Us?
The latest Quad-City area numbers show a market that is slower, but still surprisingly stable. From July through September 2026, the median closed price for both 2025 and 2026 held steady at $510,000.
Closed sales fell about 5%, from 940 to 894. The average number of homes for sale in the middle of each month declined from 1,390 to 1,301. September months of supply fell from 5.1 months to 4.3 months. Counter intuitively, the median days on market improved slightly from 49 days to 43 days, and homes sold for about 98.8% of asking price, slightly better than last year.
THE LOCKED-IN EFFECT
So, what's up? Why haven't home prices fallen faster and further? While higher mortgage rates have reduced buyer activity, they have also discouraged many homeowners who might want to sell from putting their homes on the market. The Quad-Cities saw a 5.3% decline in new listings. Many owners have low 2.5%-4.5% interest rate mortgages. They don't want to trade their 3% rate for one with a 7+% rate. Who can blame them? This produces the "locked-in" effect that is constraining supply and shielding home prices from significant declines. (SO FAR)
Jeff Harshman
Real Estate Depot
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