Des Moines Metro November Housing Trends
December 12, 2018
Des Moines, Iowa – The Des Moines Area Association of REALTORS® (DMAAR) reports another month of steady sales.
Median Sale price was up 2.4 percent from October 2017. Sold properties were up slightly from last year and down from October. 1,100 residential properties were sold in November 2018 while 1,085 were sold in November 2017. This is a 1.3 percent increase from last year. November had a 3.7 percent decrease in solds when comparing to the 1,141 sold properties in October.
Properties continue to sell quickly with an average of 49 days on market. This is 36 percent faster than November of 2017 at 67 days on market.
The number of properties on the market held steady for the third consecutive month. Active listing were up to 3,800 compared to 3,357 in November 2017.
786 properties or 71.4 percent of solds were financed conventionally. Cash purchases amounted to 13.7 percent of the sold properties. Only 9 percent of homes were financed with an FHA Loan.
“DMAAR members know giving back to our community is an important part of being a Realtor®. We are pleased to announce we will be giving a total of $70,000 through our foundation to local charities this month. A special thanks to the DMAAR Foundation members and all members that support our efforts,” stated DMAAR President Brennan Buckley.
The following local charities will receive a donation from the DMAAR Foundation: Anawim Housing, Camp Sunnyside,Central Iowa Shelter,Children & Families,House of Mercy, Hope Ministries, Hawthorne New Directions, Orchard Place, Red Cross, Youth Homes of Mid Homes of Oakridge, Beacon of Life, YESS Emergency Shelter, and Dorothy’s House.
DMAAR Foundation members are: John McRoberts, President, Mike Knapp, Marcia Wanamaker, Doug Burnett, Randy Clarkson, and Robin Polder.
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 2,300 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®.