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Des Moines Iowa Local Market Statistics

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Contracts
Written

Contracts
Closed

Median
Sale
Price

Avg. Days
on Market

Active Listings

October 2014

882

1,021

$161,500

85

3,842

September 2014

921

911

$169,000

71

4,007

October 2013

887

907

$160,000

81

4,164

 

       *Primary area served by DMAAR includes Dallas, Polk and Warren counties.

Housing Market Normalizes in Greater Des Moines Metro

Des Moines, Iowa - November 12, 2014 - The home buying frenzy of this summer is slowing down to a more measured speed, according to trends and statistics published today by the Des Moines Area Association of REALTORS.

"Homes are still selling even better than they did a year ago at this time, but we're seeing a slight slow down in terms of both the number of homes sold and days on market," says Scott Wendl, president of the Des Moines Area Association of REALTORS. "The up side for sellers is that there are fewer homes on the market, so the good ones are still going to move quickly. That's good news as we enter into what historically is our slower season."

The Association's report shows that 882 contracts were written in October and 1,021 contracts closed. The number of active listings decreased by about 5% from September's 4,007 to October's 3,842.

Wendl went on to say, "This normalization of the marketplace is very good news. It means that the market is healthy and responding to seasonal shifts rather than being artificially elevated or depressed," He pointed out, "The ideal environment is a balanced marketplace, where neither the buyer or the seller has too big of an advantage. This summer we were very close to a seller's market, where buyers were would be at a disadvantage. Now it seems like the pendulum has swung back to the center, which is better for everyone."

58% of metro homebuyers financed a home using conventional financing in October, while 15% used an FHA loan. Cash purchases made up 19% of the transactions, and 8% used alternative financing methods.

Additional statistics and information about the Des Moines housing market are available at the DMAAR website, www.BuyNowDSM.com.

The Des Moines Area Association of REALTORS® (DMAAR) is a professional association that represents the 1,500 Des Moines–area REALTORS® who are members. The mission of DMAAR is to be the voice of real estate in the Des Moines area. The term REALTOR® is a registered trademark, which identifies real estate professionals who adhere to a strict code of ethics as members of the National Association of REALTORS®.

Based on information from the DES MOINES AREA ASSOCIATION OF REALTORS®

 

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©2014, Coldwell Banker Mid-America Group, REALTORS - Serving Des Moines area. Licensed in Iowa. Equal Housing Opportunity. West Des Moines, Iowa. The Coldwell Banker name and trade mark are licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.

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