Home Prices Continue Upward Trend, Sales Drop in April

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Median sale price rose in April and sales were down when compared to April of last year according to the Housing Trends Report from the Iowa Association of REALTORS.

The median sale price of an Iowa home increased by 8 percent in April when compared to April 2017. The median sale price in April was $161,950.  

Sold properties in April were 11.5 percent lower than April 2017. 3,104 homes were sold in April in comparison to 3,509 homes sold in April of last year.

Properties were selling slightly faster than a year ago. Days on market was down to 82 days on market compared to 85 days in April 2017.

“Typically we see a nice increase in homes sold from March to April. There were 200 more homes sold in April this year. The weather the first two weekends in April was very cold and rainy in Iowa and likely had an adverse impact on the real estate activity in Iowa. We look forward to the activity in showings and properties sold to increase in May, “ stated Mark Kamps, IAR President.

The information used to create the IAR April 2018 Housing Trends Report was current as of May 25, at 1:00 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 more information, please contact Mark Gavin, Director of Communications at the Iowa Association of REALTORS - mark@iowarealtors.com or 515-309-9345.