Des Moines Metro September Housing Trends
October 12, 2018
The Des Moines Area Association of REALTORS® (DMAAR) reports another month of normalized activity.
1,043 homes sold in September 2018 which is down from 1,392 homes sold in August.
Prices remain well above last year. The median sale price in September 2018 was 9.9 percent above September 2017. Comparing August of this year to September the median sale price dipped slightly at 2.6 percent.
The average days on market in September was 57. Days on market dipped slightly from last year by 5 percent. The days on market jumped 26.6 percent in September compared to the previous month of August.
The number of properties currently for sale remained steady from August to September with 3,903 active listings in the metro area. This is 5 percent more properties than September 2017.
65.2 percent of homes sold in September were financed conventionally. 12.7 percent of homes sold in September were cash purchases and 9.9 percent were financed with an FHA loan.
The Realtors® and affiliate members of DMAAR are very active in helping their local neighborhoods and communities. DMAAR is looking forward to its 3rd annual sponsorship with Rebuilding Together on October 23. Realtors® from across the metro area will join together to help a veteran that needs assistance with some home improvement projects. “DMAAR members specifically requested to help out a veteran in need. We greatly appreciate their service to Iowa and our country. This is a great way to show our thanks and help a local veteran,“ stated Brennan Buckley, DMAAR President.
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®.