Des Moines Metro October Housing Trends
November 12, 2018
Des Moines, Iowa – November 12, 2018 – The Des Moines Area Association of REALTORS® (DMAAR) reports another month of steady sales.
Median Sale price was down 4.4 percent from October 2017. Sold properties were down slightly from last year, but up from September. 1,141 residential properties were sold in October 2018 while 1,192 were sold in October 2017. That is a 4.2 percent drop from last year. October bounced back from this September with a 9.4 percent rise in solds when comparing to the 1,043 sold properties in the previous month.
Properties continue to sell quickly with an average of 49 days on market. This is almost 25% faster than October of 2017 at 65 days on market.
The number of properties on the market held steady for the third consecutive month. Active listing were up to 3,911 compared to 3,597 in October 2017.
806 properties or 62.5 percent of solds were financed conventionally. Cash purchases amounted to 12.8 percent of the sold properties. Only 6.7 percent of homes were financed with an FHA Loan.
16 Realtors® and affiliate members joined together with Rebuilding Together to repaint and clean up a house of an older gentleman in Des Moines. “It was great to see the transformation of the house and to see the gratitude on the homeowner’s face at the end of the day,” Linda Westergaard, Past President of DMAAR, one of the painters. “Thanks to all Realtors® that took time out of their lives to impact a fellow citizen.”
Next month DMAAR members will be participating in the statewide Iowa Realtors Ring Day on Friday, December 7. Dozens of DMAAR members will be volunteering at local grocery stores and other retail outlets to ring the bell for Salvation Army to help raise money for those in need in their community.
Additional Statistics and information about the Des Moines area housing market are available at the DMAAR Housing Stats Page.
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®. #