Sales Dropped, Sales Price Rose in September

Iowa Association of REALTOR is proud to announce a new housing stats system using ShowingTime’s Market Stats program. This new stats program will have more detailed metrics and the ability to view housing data by county, regional board/association or by Iowa Congressional District. 

Click here to view or print the detailed monthly statistics report for Iowa. 

Go to our Housing Stats page to see statistics for any Iowa county or Iowa congressional district.

September Statistics

The housing market continues to normalize. The  inventory of homes for sale is rising. Per seasonal trends the sales are declining as we enter fall. 

September saw the highest number of homes available for sale on the market in the last 12 months.  The months supply of inventory rose to 4.4 which signals a market that is balancing out. A balanced market has between 4 and 6 months supply of homes. 

“We typically see sales decrease as the weather gets colder and school is in full swing. Historically real estate activity tends to slow down as interest rates rise. All in all, Iowa’s year-to-date numbers are very good. Many of Iowa’s communities continue to receive high ranks for affordability, family-friendly and strong job opportunities,” stated IAR President Mark Kamps.

Sales dropped 12.7 percent in September compared to September of last year. 3,233 properties sold in September 2018 while 3,703 properties sold in September 2017. However, the year-to-date solds are down only slightly at 1.6 percent. 

Median sales price climbed 4.2 percent to 160,000 in September compared to $153,500 in September 2017. 

Days on market continues to be relatively low with an average of 58 days. This was a 18.3 percent decrease from a year ago. 

The information used to create the IAR September 2018 Housing Trends Report was current as of October 29 at 4:00pm.  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 7,200 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® - or 515-309-9345

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