June homes sales in Iowa were steady when compared to last year according to the Housing Trends by the Iowa Association of REALTORS® (IAR). Sales took a slight dip at less than 1 percent than sold numbers in June 2019. Pending sales climbed over 12 percent when compared to last year. June’s median sale price came in almost identical to last year at $181,000.
4,584 homes sold in June 2020 compared to 4,627 in June of last year. 11 of IAR’s 17 local area/regional multiple listing systems saw an increase in sold properties.
For the first six months of 2020, despite the pandemic, the total number of homes sold is 0.3 percent below last year’s sold homes at this point in the year. 19,230 homes have sold thus far in 2020.
Pending home sales rose 12.3 percent from last year. 4,911 were listed as pending, while June 2019 saw 4,373 properties pending a sale.
Homes sold in June were on the market for an average of 60 days which is only 1 day slower than June of 2019. The overall available number of homes on the market decreased 13.9% percent with 12,748 properties currently on the market around Iowa.
“It is great to see the Iowa market bounce back in June as we expected. The jump in pending sales in June bodes well for July and beyond. Inventory is tight right now in many markets. We are proud of the way Realtors have adapted their showing practices and embraced more virtual showings and video open houses in order to keep everyone safe and healthy. It is a great time to sell a home with many motivated buyers taking advantage of the low interest rates ready to buy and get settled before the fall,” stated IAR President Scott Wendl.
VIEW DETAILS STATEWIDE MARKET REPORT FOR JUNE
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 June Housing Trends Report was current as of July 17. 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.