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February's Home Sales Steady, Prices Rose 4.5%

February’s real estate sales remained steady according to the Housing Trends by the Iowa Association of REALTORS® (IAR). Median sales price rose 4.5 percent over February 2021. 

February’s home sales increased at less than 1 percent when compared to sales in February 2021. 

2,430 homes sold in February 2022. New properties came on the market 2.8 percent higher when compared to new listings in February 2021.  

The median sales price for February 2022 was $185,000 compared to $177,000 in February of last year. 

The number of homes available for sale continues to be low in many price ranges. Our inventory of homes was 13.7 percent lower than in February 2021 with only 7,098 homes on the market statewide. 

Homes sold very quickly in February at an average of 47 days on the market. That is almost 15 percent faster than February of 2021. 

“February’s housing stats were very close to February 2021 and the pre-pandemic numbers of February 2020. This year’s February stats continue the historical trend of February being one of the slowest months in Iowa for real estate. As the weather improves the momentum of new construction should increase our supply and have a positive impact on Iowa’s Spring housing market. Iowa did better than most of the country, including the Midwest region during February. According to the National Association of REALTORS®, The Midwest saw a decrease in sales and a higher median price increase of 7.5%,” stated IAR President Byron Menke.  

Statewide Market Report for February

View the Detailed PDF Report on Statewide Statistics

Housing Market Reports Based On An Iowa Count


View Reports on Single-Family homes

View Reports on Townhouse-Condo homes

The information used to create the IAR February Housing Trends Report was current as of March 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 8,000 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®, Iowa Association of REALTORS®, Data from Multiple Listing Services in Iowa, and ShowingTime.
 

 

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