Homes on the Market Rose 26.4% in Des Moines Area, Sales Declined 10.8% in September

October 11, 2022

The number of homes on the market in the Des Moines metro area rose again, to 26.4% over this time last year, reported the Des Moines Area Association of REALTORS® (DMAAR).  2,880 properties were on the market in September compared to 2,669 properties in August. In September of 2021, there were 2,279 properties on the market.  

Home sales dropped in September by 10.8% compared to September of last year. 1,302 residential properties sold in September 2022 while 1,459 homes sold in September of 2021.

The median sale price rose by 3.8% when compared to September of 2021. $275,000 was the median sale price in September 2022. The average days on market calculated to 34 days.

963 properties or 74% of sold properties were financed conventionally. Cash purchases amounted to 7.9% of the sold properties. 7.1% of sold homes were financed with an FHA Loan. 

“The number of homes on the market is increasing in almost every price range. This is a welcome sign to our buyers and helps move us toward a more balanced market. Price increases continue to level off. We are still seeing most homes sell within 30 days. We encourage potential buyers and sellers to find a Realtor if they want to move before winter. A Realtor will help guide them through the entire process and apply their expertise of new developments or changes in their local area.” 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®.