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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

September 2014

921

911

$169,000

71

4,007

August 2014

1,001

1,066

$166,979

75

4,109

September 2013

940

861

$162,900

82

4,268

 

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

Home Sales Market Finds Balance in Greater Des Moines Metro

Des Moines, Iowa - October 10,2014 - The seller's market we experienced this summer seems to be leveling out into a more balanced market, according to trends and statistics published today by the Des Moines Area Association of REALTORS®.

"Homes are still selling quite well but we're not seeing the same level of frenetic activity as we did this summer," says Scott Wendl, president of the Des Moines Area Association of REAL TORS®. "What that means for sellers is that they'll need to be very realistic about pricing their homes and we'll probably see some price reductions on homes that didn't sell over the summer."

The Association's report shows that 921 contracts were written in September and 911 contracts closed. The number of active listings decreased slightly from August's 4,109 to September's 4,007.

Wendl went on to say, "Despite the fact that slightly fewer homes sold in September, the houses that are priced well and are in show condition are still selling fast." He pointed out, "the days on market stat continues to shrink, with homes only being on market for 71 days. That's quite a drop from a year ago when we were at 82 or a couple years ago when we were in the triple digits."

64% of metro homebuyers financed a home using conventional financing in September, while 13% used an FHA loan. Cash purchases made up 17% of the transactions and 6% 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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