June’s housing market in Iowa broke another record with homes selling almost 46 percent faster, or in 33 days on average, than a year ago. Sales rose 8.8 percent from June 2020 according to the Housing Trends by the Iowa Association of REALTORS® (IAR). Median sales price rose 13.2 percent over June 2020.
Home sales in June continued to climb with 8.8 percent more sales than June 2020. In comparison to June 2019, sold homes are up 11.5 percent. For 2021, the year-to-date sales total is 21,714 properties which is 10.8 percent higher than the first 6 months of 2020.
The median sales price for June 2021 came in at $205,000 compared to $181,123 in June of last year.
The number of homes available for sale is low in most price ranges. Our inventory of homes was 25.9 percent lower than in June 2020 with only 9,378 homes on the market statewide.
Homes sold at a record pace in June at an average of 33 days on the market. The bulk of the sales were single-family detached homes that were selling in 31 days. Townhouses or condos were selling slightly slower at an average of 46 days on the market.
“While homes in June sold very quickly, we are seeing an increase in homes available for sale. We’ve experienced a slow increase in homes available for sale the last four months and hope that continues after seeing 11 months of declining inventory. If this trend continues, this will help stabilize our market over the long-term,” stated IAR President Jen Burkamper.
“We broke another record in June with the percent of list price received at 100 percent. This ratio shows the difference in the final sale price when compared to the original or list price. This average of 100 percent shows that many homes continue to sell over the list price due to high demand for properties and lack of homes available for many price points. We cannot stress enough the importance of using a Realtor as a professional guide through this fast-paced market with multiple offers,” continued Burkamper.
VIEW DETAILS OF STATEWIDE MARKET REPORT FOR JUNE
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 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.
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, ShowingTime.