April homes sales in Iowa were up 2.5 percent according to the Housing Trends by the Iowa Association of REALTORS® (IAR). April’s median sale price came in 7.4 percent higher at $175,000 compared to $163,000 last year.
3,352 homes sold in April 2020 compared to 3,271 in April of last year. For the first four months of 2020 thus far, the number of homes sold is 6.9 percent higher than during this four month period last year.
Pending home sales dropped 16.6 percent from last year. 3,517 were listed as pending, while April 2019 saw 4,218 properties as pending.
Homes sold in April were on the market for an average of 66 days which is 13.2 percent faster than 76 days in April 2019. The overall available number of homes on the market decreased at 5.1 percent with 13,414 properties on the market.
“As Iowans adjusted to isolation and the Governor imposed more social distancing measures, a reduction in pending sales and new listings was expected. While April was a challenging month for many people, Realtors adapted their business practices to keep their clients and themselves safe and healthy. In spite of the pandemic, real estate is still moving forward. It is predicted that it will be one of the first industries to recover quickly. Many sellers have been quarantined in their homes and have used this time to get projects done to improve their homes to get them ready for sale. Interest rates are incredible and historically low with motivated buyers ready to take advantage of these low rates,” stated Scott Wendl, IAR President.
VIEW DETAILS STATEWIDE MARKET REPORT FOR APRIL
View detailed statewide market report in PDF format.
VIEW HOUSING MARKET REPORTS BASED ON AN IOWA COUNTY
View Reports on Single-Family homes.
View Reports on Townhouse-Condos.
The information used to create the IAR April Housing Trends Report was current as of May 15. The information is subject to change due to the dynamic nature of the IAR’s housing statistics system, which is based on data from the local participating MLS (multiple listing service) systems.
The term Realtor® is a registered trademark, which identifies real estate professionals who follow a strict Code of Ethics as members of the National Association of REALTORS®.
The Iowa Association of Realtors® is the state’s largest real estate professional organization representing over 7,500 members and affiliates. The IAR releases a Housing Trends Report each month.
For more information, please contact Mark Gavin, Director of Communications at the Iowa Association of REALTORS® - mark@iowarealtors.com or 515-309-9345
Sources: National Association of REALTORS®, Multiple Listing Services in Iowa, ShowingTime, Inc.