Homes Sold at a Blistering Pace in June
July 9, 2021
Homes sold at blistering pace in June and broke another record with an average of 24 days on the market. The median days on market was only 3 days. Sales rose over 7 percent from June of 2020 in the Des Moines Metro area reported by the Des Moines Area Association of REALTORS® (DMAAR).
1,743 residential properties sold in June 2021, while only 1,628 sold in June of 2020.
The median sale price increased 12.9 percent to $254,000, compared to $225,000 in June of 2020.
The median of 3 days on the market takes the middle set of numbers in a data set which in this case more accurately reflects the fast-paced market in the Des Moines metro area.
The amount of available properties on the market did improve 6% over May with 1,838 properties on the market in June compared to 1734 properties in May.
1,331 properties or 76.3 percent of sold properties were financed conventionally. Cash purchases amounted to over 8.4 percent of the sold properties. 9.6 percent of sold homes were financed with an FHA Loan.
“In June we saw homes selling at an unprecedented rate. We believe we are seeing the first signs of a turn in the market to being a bit more balanced with an increase in the listing of new properties. We hope to see this trend continue which would help stabilize the market in the long-term,” stated President Ted Weaver.
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 more than 2,600 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®.