February Sales Up 3.6% and Prices Up by 3.9%

March 10, 2022 Des Moines metro home sales in February increased slightly compared to a year ago reported by the Des Moines Area Association of REALTORS® (DMAAR). Sales increased by 3.6 percent.

882 residential properties sold in February 2022 while 851 homes sold in February of 2021. The median sale price rose by 3.9% when compared to February of 2021. $234,900 was the median sale price in February. The median number of 14 most accurately represents the data set for Days on Market in this case. The average days on market calculated to 44 days.

The amount of available properties on the market in February dipped slightly from last month with 1,667 properties on the market compared to 1,692 properties in January. In February of 2021, there were 1,787 properties on the market.

623 properties or 71 percent of sold properties were financed conventionally. Cash purchases amounted to 13.7 percent of the sold properties. 8.7 percent of sold homes were financed with an FHA Loan. 

“Great to see February’s sales increase from February of last year. Homes are selling extremely fast as the number of homes on the market continues to be very low. With winter winding down and new construction homes hitting the market, we hope for a nice increase of homes available in March and April,” stated DMAAR President Jen Stanbrough. 

“If homeowners are looking for great advice on spring cleaning or getting their home ready to sell, check out the articles on Houselogic.com,” offered DMAAR President Jen Stanbrough. 

Additional February statistics and information about the Des Moines area housing market are available at the DMAAR Housing Stats web page.

The Des Moines Area Association of REALTORS® is a professional association that represents more than 2,700 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®.