DMAAR August 22 Housing Stats

Homes on the Market Rose 22.8% in Des Moines Area, Solds Dropped 12.4% in August

September 12, 2022 The number of homes on the market in the Des Moines metro area rose 22.8% over this time last year, reported the Des Moines Area Association of REALTORS® (DMAAR).  2,669 properties were on the market in August compared to 2,596 properties in July. In August of 2021, there were 2,173 properties on the market.  

Home sales dropped in August by 12.4% compared to August of last year. 1,470 residential properties sold in August 2022 while 1,678 homes sold in August of 2021. 

The median sale price rose by 5.2% when compared to August of 2021. $268,250 was the median sale price in August 2022. The average days on market calculated to 24 days.

1,052 properties or 71.5% of sold properties were financed conventionally. Cash purchases amounted to 14.9% of the sold properties. 6.6% of sold homes were financed with an FHA Loan. 

“A bit of a slow down in August is normal with families finishing up vacations, so many Iowans attending the state fair and school starting up. We are pleased to see the number of homes on the market rising again, giving our buyers more potential options. Prices are up only 5% and starting to level off. Despite the normal seasonal slowdown, homes are selling quickly with an average of 24 days on market,” stated President Jen Stanbrough.

Additional 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 association consists of Realtors® from the larger metro area, including but not limited to communities such as: Adel, Perry, Polk City, Newton, Knoxville  Indianola, Pella, Winterset. 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®.