DMAAR Housing Stats June 2020

July 10, 2020

Des Moines, Iowa – July 9, 2020 – The Des Moines Area Association of REALTORS® (DMAAR) reports June sales increased by 8.8 percent from last year with 1,628 sold properties compared to 1,496 sold in June 2019.

“The market in June rebounded nicely as expected from May’s high number of pending sales. Most homes are selling very quickly! 60 percent of the sales in June sold in 30 days or less. It is definitely a seller’s market. The only way to make this market any hotter would be the fuel of more listings.” says Lance Hanson, DMAAR President.

The average number of days on market decreased, with 50 days for June 2020 compared to 59 days in June 2019.

The median sale price is about the same last year at this time. June’s median sale price came in at $225,000 while June’s median sale price in 2019 was $224,000.

The number of properties available is very low, falling 9 percent from last June. Today 2,791 homes on the market.

1,188 properties or 72 percent of sold properties were financed conventionally. Cash purchases amounted to 10 percent of the sold properties. Over 9 percent of sold homes were financed with an FHA Loan.

 

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 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®.