January’s real estate activity continued off the strong finish to 2020 according to the Housing Trends by the Iowa Association of REALTORS® (IAR). Home sales increased 13.5 percent in January 2021 when compared to sales in January 2020. Median sales price rose 12.4 percent over January 2020.
2,498 homes sold in January 2021* with new properties coming on the market dropping 19 percent compared to new listings in January 2020.
The media sales price for January 2021 came in at $179,900 compared to $160,000 in January of last year.
Homes sold very quickly in January at an average of 51 days on the market. That is almost 20 percent faster than January of 2020.
The number of homes available for sale continues to be low in many price ranges. Our inventory of homes was 35.6 percent lower than in January 2020 with only 8,262 homes on the market.
“The story of January shows the constant battle we are facing with low inventory levels. New properties coming on the market dropped 19% over last year with the total number of homes available down 36%. The increased buyer demand is leading to extreme multiple offer situations and an increase in prices, which were up 12.4% from January of last year. In my 20 plus years of real estate I have not seen a stronger seller's market. Although it is a tough market for buyers, they are ready to go and want to take advantage of the low interest rates. Now, more than ever, people need a REALTOR® professional to guide them through these crazy market conditions,” stated IAR President Jen Burkamper.
VIEW DETAILS OF STATEWIDE MARKET REPORT FOR JANUARY
View the Detailed PDF Report on Statewide Statistics
VIEW HOUSING MARKET REPORTS BASED ON AN IOWA COUNTY
View Reports on Single-Family homes.
View Reports on Townhouse-Condo homes.
The information used to create the IAR January Housing Trends Report was current as of February 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 7,900 members and affiliates. The IAR releases a Housing Trends Report each month.
*Due to some changes with the Multiple Listing Service of the Iowa Great Lakes Board of REALTORS®, their data was not included in this monthly report. Once this data is received, this report will be updated accordingly. Iowa Great Lakes Board of REALTORS® includes the cities of Spencer, Spirit Lake, Okoboji, Estherville and their surrounding areas.
For more information, please contact Mark Gavin, Director of Communications at the Iowa Association of REALTORS® - mark@iowarealtors.com or 515-309-9345