2019: Solid Year for Real Estate in Des Moines Metro Area
January 14, 2020
Des Moines, Iowa – January 14, 2020 – The Des Moines Area Association of REALTORS® (DMAAR) reports another solid year in real estate for 2019. 14,273 residential properties sold last year while 14,456 were sold in 2018. There was a slight decrease of 1.3 percent in home sales in 2019 compared to last year. The median sale price dipped 6.1 percent from 2018.
The median sale calculated to $215,000 for 2019. In 2018, the median sale price was $229,000.
Properties sold relatively quickly with an average of 76 days on market in 2019. Over 71 percent of the properties sold in less than 60 days in 2019. The housing numbers in 2018 showed an average of 65 days on market.
Some interesting statistics for the year:
• 8,097 properties (or 57%) sold in less than 30 days
• 12,767 homes (or 89.4%) sold between the these prices - $50,000-$399,999
• 32 homes sold for $1 million or more
“The beginning of 2019 started slowly with less homes on the market with the snowfall and lower temps sticking around longer than usual, but we ended 2019 very strong in sales. We still need more homes for sale in some price ranges. All in all, 2019 was a very good year with most prices ranges increasing in sale price. Homes sold relatively quickly, which was reflected in the number of homes sold within 30 days,” stated DMAAR President Jenn Clark.
“We’re proud of that fact that the Des Moines Metro Area continues to be recognized by national media as a top place to live,” added Clark.
#3 Best Affordable Place to Live in the U.S. – U.S. News & World Report, 2019
#7 Best Place for Business and Careers – Forbes, 2018
#6 Best Places to Work in Tech – SmartAsset, 2019
#1 Place for Millennials to Buy Homes – Grow Magazine, 2019
1,042 properties sold in December which was slightly higher than the 1,023 sales recorded in December 2018. The median sale price of $218,182 came in at 13.3 percent higher than December 2018.
The number of properties on the market in December was higher than last year as well. 3,609 properties were on the market in December compared to 3,515 in December 2018. Properties sold on average in 62 days, slightly higher than the 55 days on market reported in December 2018.
The Des Moines Area Association of REALTORS® Housing Trends Report is a report based on activity for the DMAAR Multiple Listing Service. Properties included in this report are from REALTOR® offices in the Des Moines Metro and surrounding area including Newton, Pella, Knoxville, Indianola, Winterset, Stuart, Perry, Polk City and many more communities.
Additional Statistics and information about the Des Moines area housing market are available at the DMAAR website, www.dmaar.com.
The Des Moines Area Association of REALTORS® is a professional association that represents more than 2,400 REALTOR® members. The mission of DMAAR is to be the voice of real estate in the Des Moines area. The term REALTOR® is a registered trademark, which identifies real estate professionals who adhere to a strict code of ethics as members of the National Association of REALTORS®.