It was another solid year for the Iowa housing market. Home sales and median home prices were trending up in 2017 according to the official housing trends released by the Iowa Association of REALTORS®. Home sales grew by 3.2% in 2017 with 44,023 homes sold compared to 42,671 in 2016.
The median sale price was 4.2% higher than last year. The median sale price was $153,000 in 2017 while the median price was $146,900 in 2016.
Homes sold faster in 2017 with an average of 76 days on market compared to 80 days on market in 2016.
“2017 was a good year for real estate. 14 of our 17 regional boards and MLS’s sold more homes in 2017 than in 2016. We are excited about the new First Time Home Buyer Savings Account in our state. Future home buyers or relatives can now open a bank account to save money for their first Iowa home. You can learn more at iowafirsthome.com or ask a local Realtor or banker,” stated Mark Kamps, 2018 President of the Iowa Association of REALTORS®.
“If you are interested in your area of the state, reach out to a local Realtor for the best information on your local real estate market. Remember, all real estate is local,” stated Mark Kamps.
View or Print The 2017 Iowa Housing Trends Report
Additionally, Iowa received a lot of love from national media in 2017. Our real estate market is boosted by this great recognition!
Highlights on Iowa’s National Attention*:
- MarketWatch reported that Iowa is the best place for millennials to pursue the American dream of owning a home.
- Bloomberg reported Iowa is the state which generates the highest share of its electricity from wind and solar.
- Iowa ranked second best state for the cost of doing business.
- CNBC named Iowa the most affordable state for the middle class.
- Des Moines was listed in the top 5 in Forbes’ Best Places for Business and Careers.
- Cedar Rapids’ Rebirth was profiled in the Wall Street Journal.
The information used to create the IAR 2017 Housing Trends Report was current as of January 24 at 3:00 p.m. The information is subject to change due to the dynamic nature of the IAR’s housing statistics system, which is updated hourly based on information present in 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 7,200 members and affiliates. The IAR releases a Housing Trends Report each month. Data is collected from local Realtor® boards through their multiple listing service (MLS), which tracks sales activities in the board area. IAR compiles all of the local board data into the statewide report each month. Reports are available online to IAR members and affiliates with a login and password. Anyone is eligible to become an IAR affiliate. For membership information, visit www.iowarealtors.com
For questions, please contact Mark Gavin, Director of Communications at the Iowa Association of REALTORS®. Mark@iowarealtors.com - 515-309-9345.
*Sources: Iowa Economic Development Authority