The Des Moines Area Association of REALTORS® reported 557 closed sales for January, which was the highest number of January sales since 2008. There were 3,806 active listings, down from the same period last year by over 500 listings. To round out the Des Moines market showed a median sales price up $16,000 from a year ago.
Iowa home sales have increased in 18 of the last 19 months according to the Iowa Association of Realtors®. January was no different with sales up more than 14 percent from last year same time.
IAR’s January 2013 Housing Trends Report showed that home sales jumped 14.7 percent as 1,898 homes sold/closed in January, compared to the 1,655 homes that sold/closed in January 2012.
The median sale price rose 7.3 percent from January last year. The median price went from $108,199 in January 2012 to $116,050 January 2013. While the average home sale price also increased by 6.3 over last year at this time. The average sale price was $136,183 in January 2013 and just $128,131 in January 2012.
Days on the market for this January averaged 102, down 12 days or 10.5 percent from January 2012. As sales were up inventory was down for January 2013, the statewide inventory of homes on the market was 17,234, down 19 percent from January 2012. This Is equal to a 5.9 month supply.
(Image from Des Moines Area Association of REALTORS®)