Des Moines Metro February 2019 Housing Trends
March 12, 2019
March 11, 2019 – Several factors contributed to the real estate market in February, according to the housing trends reported by the Des Moines Area Association of REALTORS® (DMAAR).
703 homes sold in February 2019 which is up from January at 652 homes sold, but down from February 2018 at 731. The median sale price decreased from last month at $194,450 (February 2019) and increased 4.5 percent over February 2018, which was $186,000.
Days on market is at 70 days in February 2019, up from 64 in January and down from 81 in February 2018.
The number of properties currently for sale has decreased around 4 percent in February 2019 with 3,329 active listings in the metro area. January 2019 showed 3,485 active listings.
66 percent of homes sold in February 2019 were financed conventionally. 12 percent of homes sold in February were cash purchases and 11 percent were financed with an FHA loan.
“Inventory is low due to the cold February we had, but things are looking up,” says Jenn Clark, 2019 DMAAR President. “This made for multiple offer situations in early March and hopefully a preview of what spring will bring.”
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 the almost 2,200 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®.