Des Moines Area October 2017 Housing Trends Report
November 10, 2017
Just when we think the market is going to slow down because of the season or weather, the real estate market in the Des Moines area surprises us again! According to the Des Moines Area Association of REALTORS® (DMAAR) October sales have dropped slightly from September, but are up from October of last year.
1,192 homes sold in October 2017 which is an increase over last October at 1,120. The big story this month is the 8.6% increase in median sale price! October came in at $200,000 which is $15,800 over September.
Days on market are up from 60 days in September to 65 days in October. The number of properties currently for sale is down slightly from September 2017 to 3,597.
61.6 percent of homes sold in October 2017 were financed conventionally. 14.4 percent of homes sold in October were cash purchases and 9 percent were financed with an FHA loan.
Realtors have been speaking up against the tax reform proposal. “Tax reform is a hot topic for many reasons, and REALTORS in the Des Moines area and across the nation are making sure to take action and protect homeowners,” said Linda Westergaard, president of DMAAR. According to the National Association of REALTORS, the “Tax Cuts and Jobs Act, H.R. 1, tax reform legislation is a direct threat to consumers and homeowners. Not only will millions of homeowners not benefit from the proposal, many will get a tax increase. Additionally, homeowners could lose substantial equity from the more than 10% drop in home values likely to result if the bill is enacted.” Anyone can get in touch with his or her Congressmen and women and let them know that we need to reform taxes without hurting middle class homeowners. Visit: http://homeownershipmatters.realtor/taxreform/ to make your voice heard!
Additional Statistics and information about the Des Moines area housing market are available at the DMAAR Housing Stats web page.
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®.