Des Moines Housing Market Flourishes as Spring Drives Surge in Home Buying and Selling

May 17, 2024

With spring in full swing, the Des Moines area housing market is thriving for home buyers and sellers. April’s inventory is up, days on the market are lower, and properties are selling! 

“Now is a great time for prospective home buyers to enter the market, as they have more properties to choose from when looking for their ideal home,” Erika Hansen, DMAAR President, said. “Home sellers are starting to see their homes purchased more quickly than the past several months. Which means more Iowans are finding their perfect home!” 

Home Sales Increase
Home sales in the Des Moines metro area have increased 10.75% in April with 1,143 homes sold compared to last month’s 1,032 homes sold. Year-over-year, there was an increase of 15.69% from 988 homes sold in April 2023.

Pending sales have risen 6.38% in April with 1,434 contracts written compared to last month’s 1,348 contracts written. Year-over-year had a 4.27% decrease in contracts written with 1,498 contracts written in April 2023.

The Des Moines metro saw a big change in the number of active listings this April compared to last year’s inventory. In April, there was an increase of 5.77% in inventory with 3,100 houses on the market compared to March’s 2,410 active listings. Inventory increased this year by 28.63% compared to last year’s 2,410 homes listed. 

The median sale price for the Des Moines Metro area for April was $282,500. The median sale price decreased 0.88% from March’s $285,000 median price. Year-over-year there was an increase of 3.10% in price compared to last year’s $274,000.

Out of the properties sold in April, 775 or 67.80% were financed conventionally. Cash purchases amounted to 15.31% of the properties sold, and 10.67% were financed with an FHA Loan.

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 more than 2,700 REALTOR® members. The association consists of REALTORS® from the larger metro area, including but not limited to communities such as: Adel, Perry, Polk City, Newton, Knoxville, Indianola, Pella, Winterset. 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®.