Des Moines, Iowa – September 10, 2020 – The Des Moines Area Association of REALTORS® (DMAAR) reports August sales exceeded last year by 9.4% with 1,628 sold properties compared to 1,488 solds in August 2019.

 

The average number of days on market was down to 50 days for August 2020, as compared to the 51 days from August 2019. The median sale price came in 9.5 percent higher at $240,000 in August 2020 compared to $219,000 in August of last year. The availability of property fell once again with 2,654 homes on the market, down 35.7% from last August.

 

“Interests rates are still some of the lowest we’ve seen. The only thing holding the market back is our lack of inventory. Even though we're heading into the fall, there's plenty of pent up buyer demand so there's never been a better time to list a home. What are you waiting for?” said Lance Hanson, DMAAR President.

 

1,209 properties or 74 percent of sold properties were financed conventionally. Cash purchases amounted to over 9.3 percent of the sold properties. 9 percent of sold homes were financed with an FHA Loan.

 

CONTACT: Lance Hanson, DMAAR President | 515-771-4148

Additional Statistics and information about the Des Moines area housing market are available at the DMAAR websitewww.dmaar.com.

The Des Moines Area Association of REALTORS® is a professional association that represents more than 2,400 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®.