April’s real estate sales dipped 8.8 percent according to the Housing Trends by the Iowa Association of REALTORS® (IAR). Median sales price rose almost 10 percent over April 2021.
3,591 homes sold in April 2022. In April 2021, 3,938 properties sold. On a brighter note, pending sales were up almost 11% from April 2021. Compared to the first 4 months of 2021, sales are only .8 percent lower this year.
The median sales price for April 2022 increased 9.8% to $209,700 compared to $191,000 in April of last year. This is a record high for median sale price in Iowa.
The number of homes available for sale continues to be low in many price ranges. Our inventory of homes was 28 percent lower than in April 2021 with only 6,522 homes on the market statewide.
The average days on market for properties continues its decreasing trend. April saw an average of 36 days on the market. That is 26.5 percent faster than April of last year.
“While sales did drop in April, we’re encouraged by the almost 11 percent rise in pending sales. This bodes well for May and June. We believe April’s rainy and cold weather may have impacted sales and construction of new homes in Iowa. We’re looking forward to improved weather and real estate activity in May and June. With mortgage rates rising and a tight inventory, we encourage buyers to have all their finances in order and get pre-approved. Find a local, trusted Realtor to help you through these market conditions,” stated IAR President Byron Menke.
View Details Of Statewide Market Report For April
View the Detailed PDF Report on Statewide Statistics
View Housing Market Reports Based On An Iowa County
View Reports on Single-Family homes
View Reports on Townhouse-Condo homes
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 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.