Home Sales Rise Over 5 Percent In June, Record Number Sold in 1 Month

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Home sales rose 5.3 percent in June compared to June of 2016. The median price was 5.8 percent higher last month compared to June of last year. 

The Housing Trends Report from the Iowa Association of REALTORS® (IAR) shows home sales at 5,389 homes compared to June 2016 at 5,120 homes. According to our data, this is a record number of sales sold in Iowa in one month. 

The median sale price rose 5.8 percent in June when compared to June of 2016. $165,000 was the median price last month compared to $156,000 last year in June.

The Days on Market Report continues to show homes selling faster and faster. Last month homes sold on average in 72 days. In June 2016, days on market was 75. 

“Late Spring and Summer are very busy in real estate. For the past several years, June and July have had the most properties sold. The record number of homes sold last month shows that Iowa isn’t a secret anymore. Many of our metro areas continue to see steady growth each year. Iowa’s good economy, low cost of living and a great lifestyle are appealing to people of all ages,” stated Cindy Miller, IAR President.

2017 continues the positive trends in real estate. Statistics for the second quarter increased in comparison to the second quarter of 2016. Median price rose 4.7 percent in the second quarter of this year when compared to the same period last year. Days on market fell 6 days in Q2. Sold homes rose 2.3 percent in Q2 compared to last year. Year-to-date solds rose 3.5 percent compared to the first 6 months of 2016.

The information used to create the IAR June 2017 Housing Trends Report was current as of July 20, at 1:30 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 almost 7,000 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.
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