Des Moines 2018 Housing Trends Year End Report
January 11, 2019
According to the housing trends reported by the Des Moines Area Association of REALTORS® (DMAAR), home sales were down 2% compared to a year ago. 14,456 homes were sold in 2018 while 14,703 sold in 2017. For the month of December 2018, home sales were down 10 percent from November 2018.
2018's Median Sale Price was $229,000 up from $195,000 in 2017. The average Days on Market for 2018 was 65, which is down from 77 at the end of 2017. Active listings for December 2018 are 3,515, slightly higher than last year.
“2018 was a positive year for real estate. However, the latter part of the year showed signs of slowing due to inventory challenges and the short-term effects of interest rates rising,” says Outgoing President Brennan Buckley. “Looking forward, based on the underpinnings of a strong economy combined with predicted population growth in the metro, we should see a strong and stable year for real estate.”
The Des Moines Area Association of REALTORS® Foundation hit a milestone in December 2018. After donating $70,000 to local organizations that assist in housing and support the community, more than $600,000 has been donated since the year 2000.
The Des Moines Area Association of REALTORS® is a professional association that represents the over two-thousand 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®.