New properties for sale in April jumped 15.6 percent and Median Sales Price increased 4.5 percent from April of last year according to the April Housing Trends by the Iowa Association of REALTORS® (IAR).
There were 6,278 new homes on the market last month compared to 5,429 new listings in April 2018. The media sale price increased from $157,000 in April 2018 to $164,000 in April 2019.
Sold properties were down 6.5 percent, while homes sold faster by 7.5 percent compared to April 2018.
3,192 homes were sold last month in comparison to 3,415 in April of last year. Homes were on the market for an average of 74 days in April.
Sold single-family properties were down 8.5 percent. Sales of townhome and condo properties offset that decrease as they rose 8.1 percent from last year in April.
“It was great to see a nice increase in new properties on the market in April. As the weather continues to improve, the Spring market is beginning to pick up. In many areas of Iowa, the competition is fierce for well-priced homes in desirable locations. We are looking forward to a stronger May and June, “ stated Iowa President, John Goede.
"Over 85 Iowa Realtor leaders visited Washington D.C. last week to discuss several issues with our members of Congress. We had productive meetings that included the topics of Fair Housing, private property rights, disaster relief, flood insurance, opportunity zones, student loan debt, reform for Freddie Mac and Fannie Mae, infrastructure and healthcare for association members."
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 7,200 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