Des Moines Area November 2017 Housing Trends Report
December 15, 2017
A new home must be at the top of many Des Moines area residents wish list this holiday season. According to the Des Moines Area Association of REALTORS® (DMAAR), November sales have dropped slightly from October in a seasonal slow-down with fewer days on market, less inventory, and an increased median sale price over the same time last year.
1,085 homes sold in November 2017 which is a slight decrease from last November at 1,120. The median sale price showed a 6.2% increase over last November at $189,038 which is an increase of $11,038.
Days on market are up from 65 days in October to 67 days in November, but are down from 69 days last November. The number of properties currently for sale is down from October 2017 to 3,357.
65.2 percent of homes sold in November 2017 were financed conventionally. 16.4 percent of homes sold in November were cash purchases and 9.4 percent were financed with an FHA loan.
The Des Moines area REALTORS® have invested in the future by contributing to Variety – the Children’s Charity with funds raised from the Annual DMAAR Golf Outing in June. Local Realtors have also helped Habitat for Humanity with the Hammer and Heels project, participated in Rebuilding Together to provide updated maintenance for a local Veteran, and supported the Salvation Army December 1st by joining in Iowa REALTOR® Ring Day ringing the bell for the Red Kettle program in communities in and around the metro. “REALTORS® are actively engaged in their communities and also work hard to protect homeowners on the political front,” said Linda Westergaard, President of DMAAR. Realtors are currently telling Congress that we do not support tax reform that hurts middle class homeowners. Anyone can get in touch with his or her Congressmen and women visit: http://homeownershipmatters.realtor/taxreform/
Whether it is working to improve the Des Moines area or fighting to protect homeowners against legislation that would increase the cost of homeownership, REALTORS are working for you.
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 over 2,000 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®.