September home sales surged by 16.2 percent along with an increase of 11.9 percent in pending sales when compared to September 2019 according to the Housing Trends by the Iowa Association of REALTORS® (IAR).
4,307 homes sold in the month of September compared to only 3,706 solds in September of last year. So far this year, home sales are up 5.6 percent in comparison to the first nine months of 2019.
Pending sales outpaced this time last year by 11.9 percent with 4,004 properties listed as pending compared to only 3,579 pending properties in September 2019.
Homes sold in September had an average of 53 days on market. This is the fastest rate in over 2 years! The last time homes sold this fast was the summer of 2018.
The median sales price rose 6.9 percent with $185,000 last month compared to $173,000 in September 2019.
Total number of homes available on the market continues to be tight in many price ranges. Inventory of homes dropped 25 percent when compared to September of last year.
"September's statistics look great in all categories, with the exception of inventory. Even with so few homes on the market, it is still important to make sure your home is show-ready and priced accordingly. Homes are selling fast with multiple offers in many cases!" says IAR President, Scott Wendl.
VIEW DETAILS STATEWIDE MARKET REPORT FOR September
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 September Housing Trends Report was current as of October 15. 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 7,500 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®, Multiple Listing Services in Iowa, ShowingTime, Inc.