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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
March 2014
1148
735
$148,500
103
3,765
February 2014
809
533
$147,500
101
3,669
March 2013
1176
779
$152,000
106
3,852

       *Primary area served by DMAAR includes Dallas,

Mild Weather Brings Out the Home Buyers in Des Moines Metro

Des Moines, Iowa - April 10, 2014 - As winter weather finally wound down in March, there was a corresponding uptick in homes sold, pending sales and even houses listed for sale according to trends and statistics published today by the Des Moines Area Association of REAL TORS®.
"One of the sure signs of spring is that people begin to think about buying or selling a home," says Scott Wendl, president of the Des Moines Area Association of REALTORS®. "The best news from March is that our inventory is on the rise. We're still almost 100 houses less than a year ago but it's nice to see an increase."
The Association's report shows that 1,148 contracts were written in March and 735 contracts closed. The number of active listings rose from March's 3,669 to 3,765, despite the increase in sales.
"Homes, on average, are still selling at about the 100 day mark," commented Wendl. "It will be interesting to see if the natural increase in activity that Spring brings will drive that number down as people realize the marketplace is very active and they can't wait too long to make an offer, Wendl added. "Another factor that may shorten the days on market statistic is the opinion that many economic indicators are suggesting an increase in interest rates before the end of summer. Buyers may prove anxious to get their purchase completed before that happens."
59% of metro homebuyers financed a home using conventional financing in March, while 13% used an FHA loan. Cash purchases made up 21% of the transactions and 7% used alternative financing methods.
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® or its Multiple Listing Service for the period 03/08/14 through 04/08/14
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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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