July homes sales in Iowa went up when compared to last year according to the Housing Trends by the Iowa Association of REALTORS® (IAR). July 2020 sales went up 18.4% when compared to July 2019. Pending sales climbed over 11.5 percent when compared to last year. July’s median sale price came in at $185,000, slightly increasing from 2019.
5,265 homes sold in July 2020 compared to 4,447 in June of last year. Pending home sales rose 11.5 percent from last year. 4,904 were listed as pending, while July 2019 saw 4,400 properties pending a sale.
Homes sold in July were on the market for an average of 58 days which is two days longer than July of 2019. The overall available number of homes on the market decreased 18.6% percent with 12,365 properties currently on the market around Iowa.
Year to date numbers are also looking great as 2020 has seen 24,631 closed sales so far. This is up 3.8% compared to 2019 which saw 23,728 sales.
"Numbers are looking great this year compared to last in almost every segment of residential real estate. I know it sounds like a cliché saying “now is the best time to buy”, but with interest rates historically low, now is truly the best time to finance a home if you are thinking about buying," stated IAR President, Scott Wendl.
The Derecho that swept across Iowa on August 10th affected many. The Iowa Association of REALTORS® (IAR) has partnered with the National Association of REALTORS® (NAR) to provide storm relief for areas of Iowa impacted by the Derecho Storm on August 10. NAR’s REALTOR Relief Foundation has awarded IAR a grant of $250,000. This grant can help individuals affected by the Derecho Storm with mortgage payment assistance or rental costs due to displacement up to $1,000 per applicant.
VIEW DETAILS STATEWIDE MARKET REPORT FOR JULY
View detailed statewide market report
VIEW HOUSING MARKET REPORTS BASED ON AN IOWA COUNTY
View Reports on Single-family homes.
View Reports on Townhouse-Condos.
The information used to create the IAR July Housing Trends Report was current as of August 18. 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.