February Housing Stats

February Housing Stats

March 12, 2018

February 2018 showed an improvement over February of last year according to the housing trends reported by the Des Moines Area Association of REALTORS® (DMAAR).

731 homes sold in February 2018 which is up 5.9 percent from February 2017 at 690. Contracts closed, or homes sold, were down slightly from January this year; however, contracts written are up 9.5% over January of this year.

Days on market rose to 81. January was at 73 and February of last year was at 83. The Des Moines area saw homes selling a little bit slower this year, but is on par with February of last year. There are fewer active listings over last month, which is likely due to people waiting to list their homes until the weather is a little warmer. “The time to list is now. If you are thinking about selling your home this year, talk to your local REALTOR® to get the information you need to make a smart decision,” said Brennan Buckley, President of the Des Moines Area Association of REALTORS®.

The number of properties currently for sale is down from January with 3,071 properties on the market in the metro area.

56 percent of homes sold in February 2018 were financed conventionally. 20.7 percent of homes sold in February were cash purchases and 8.5 percent were financed with an FHA loan.  

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The Des Moines Area Association of REALTORS® launched a local chapter of a Young Professionals Network for those in real estate who are young in life or young in the business. The launch was accompanied with an educational panel called “Finding Yourself in Real Estate” that focused on finding a niche in the real estate industry in the Des Moines area. Over 100 young professional DMAAR members met at The Hall in West Des Moines to learn, network, and grow. “The event was a huge success and we look forward to seeing what the next class of Realtors® will do in business and in the community, ” said Brennan Buckley.