According to the IAR’s December 2012 Housing Trends Report the median sale price was $125,000 in December 2012 up from $116,000 in December 2011. The average sale price in December 2012 was $149,946, while the average sale price in December 2011 was just $134,332. Of the 44 local Realtor® boards in the state 33 reported increases in the median sale price in December, and 30 had increases in average sale price.
Although inventory is low the number of sales also went up slightly from last year at this time. This increase is represented by 21 more homes selling last month than in December 2011.
The inventory of homes statewide at the end of December was 17,630. Homes are now on the market an average of 97 days, down 9 days from December 2011. A six months’ supply of homes tends to represent an even buyer/seller market. Iowa’s supply of inventory in December was 6.1 months.
(Image from Des Moines Area Association of REALTORS®)