Fort Madison-Keokuk, IA-IL-MO

There is no doubt that the real estate market in the Fort Madison-Keokuk, IA-IL-MO metropolitan statistical area (MSA) has been on a roller coaster ride over the past few years. After reaching record highs in 2006 and 2007, prices plummeted during the housing crisis and have only recently begun to rebound. Despite these ups and downs, there are some trends that remain constant in this market.

One of the most notable trends is the continued popularity of rural properties. While urban areas may be seeing more development and growth, buyers in this MSA still prefer to purchase homes that are away from the hustle and bustle of city life. This preference for rural living is likely due to the relatively affordable prices of these properties as well as the peace and quiet that they offer.

Another trend that has remained steady in this market is the strong demand for waterfront property. Homes with access to lakes, rivers, or other bodies of water continue to be highly sought-after, regardless of fluctuations in the overall housing market. This is likely due to the recreational opportunities that waterfront property provides as well as its potential for appreciation.

Finally, it is worth noting that foreclosures continue to be a problem in this MSA. Although prices have begun to recover from their lows during the housing crisis, there are still many homeowners who are struggling to keep up with their mortgage payments. As a result, foreclosures remain a significant issue in this market and are likely to continue to be for some time.