Iowa Home Sales Remained Steady, Lowest Days on Market in Two Years

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The average days on market for last month came in at 66 days. That is the lowest since August of 2015. Home sales remained steady and were almost identical to sales from August 2016. Home prices continued the rising trend when compared to last year. Median sale price climbed 6.0 percent as compared to August of last year. 

The Housing Trends Report from the Iowa Association of REALTORS® (IAR) shows August home sales at 4,234 homes compared to August 2016 at 4,214 homes. The pace of home sales for 2017 so far is up 2.3 percent from last year. 

The median price of homes in August was $159,000 as compared to $150,000 last year at this time. 

The pace of home sales continues to increase. Days on market was an average of 66 days in August down from 75 days in August 2016. 
 
September is REALTOR® Safety Month. This month, agents and brokers are emphasizing the importance of safety in the real estate community. The Iowa Association of REALTORS® has expanded on the original REALTOR® Safety Pledge program started by the Des Moines Area Association of REALTORS®. “When buyers are starting to look for homes with a Realtor®, they should expect to meet in a public place and show proper identification. While the inventory of homes on the market is slowly increasing, there are still many price ranges in several metro areas that have very few homes available. Buyers should be ready with all their paperwork and finances in order to take advantage of their desired home,” stated IAR President Cindy Miller. 

The information used to create the IAR August 2017 Housing Trends Report was current as of September 18, at 10:30 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 7,000 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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Iowa Association of REALTORS

This article was written as a collaboration of IAR Staff members or invited subject matter experts.