Home prices continue to rise across Iowa February while home sales dipped slightly from a year ago.
Median sale prices rose 11.1% from February prices in 2017. The number of sales were down 1% in February when compared to February of 2017. The median sale price came in at $150,000 for February 2018. In February of last year the median sale price was $135,000.
2,085 homes sold in February 2018, while 2,105 homes sold in February of last year.
The average days on market of 91 days calculated exactly the same as a year ago.
“The low inventory in most markets in Iowa continues to pose a challenge for many looking for a home. The inventory of homes on the market in Iowa was down 5.3% from February of 2017. Sellers may be waiting longer to put their home on the market due in part to the chilly temperatures and not being able to get their homes market-ready.”
The information used to create the IAR February 2018 Housing Trends Report was current as of April 2, at 9:00 a.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