April Sales Rise Over 13%
May 12, 2021
April’s real estate activity warmed up for the spring months ahead. Sales rose over 13 percent from April of 2020 in the Des Moines Metro area reported by the Des Moines Area Association of REALTORS® (DMAAR).
1,322 residential properties sold in April 2021, while only 1,169 sold in April of 2020.
The median sale price increased 13.7 percent to $244,358, compared to $215,000 in April of 2020.
With inventory still very low, the number of properties on the market continues to fall well below last year’s number. With only 1,755 homes on the market, that calculates to 47 percent less homes available when compared to April 2020.
941 properties or 71 percent of sold properties were financed conventionally. Cash purchases amounted to over 9.6 percent of the sold properties. 10.6 percent of sold homes were financed with an FHA Loan.
Homes continue to sell very fast at an average of 40 days compared to 61 days in 2020.
“While April’s homes sold and median sale prices continue to eclipse last year’s numbers, the number of available homes continues to be a challenge for many potential buyers. The rising cost of construction is impacting the median sale price of homes. We are hopeful that more homes will be listed on the market to help alleviate the shortage of homes available. With homes selling so quickly, we encourage buyers and sellers to work with their Realtor and be ready to react fast in these market conditions,” stated DMAAR President Ted Weaver.
Additional statistics and information about the Des Moines area housing market are available in this report
and on the housing statistics page
The Des Moines Area Association of REALTORS® is a professional association that represents more than 2,600 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®.