November Homes Sales Up 7.6% and Home Prices Continue to Rise
December 13, 2021
Des Moines metro home sales in November rose 7.6 percent from a year ago while home prices increased over 17 percent according to the Des Moines Area Association of REALTORS® (DMAAR).
1,386 residential properties sold in November 2021, while 1,288 homes sold in November of 2020.
The median sale price increased 17.2 percent to $252,000, compared to $215,000 in November of 2020.
The median of 8 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 average days on market calculated to 32 days.
The amount of available properties on the market in November dropped slightly over last month with 2,194 properties on the market compared to 2,255 properties in October. In November of 2020, there were 2,387 properties on the market.
986 properties or 71 percent of sold properties were financed conventionally. Cash purchases amounted to 11.8 percent of the sold properties. 8.3 percent of sold homes were financed with an FHA Loan.
“The market in November was a pleasant surprise with a nice bump in sales and the number of properties on the market held fairly steady from last month. The warmer than usual fall weather likely influenced the activity of our buyers and sellers. Construction crews are still working in December with this fair weather. That will bode well for the future number of properties on the market,” stated DMAAR President Ted Weaver.
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 2,600 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®.