January Sales Up 17% in Des Moines Metro Area
February 11, 2020
The Des Moines Area Association of REALTORS® (DMAAR) reports January sales exceeded last year by 17 percent with 763 sold properties compared to 652 solds in January 2019.
The average number of days on market was steady, with 64 days for January 2020 equaling the 64 days from January 2019.
The median sale price came in 3 percent higher at $206,000 in January compared to $199,950 in January of last year.
The availability of property rose with 3,560 homes on the market, up 2.1 percent from last January.
“We are seeing another typical sales dip due to low temperatures and winter weather. With that said, we had a great increase in sales when compared to January of last year. The median price remains higher than last year at this time, which bodes well for sellers. We are having an excellent start to the year after our normal seasonal downturn. More homes are available and record low interest rates are working to fuel a strong February,” stated DMAAR President Lance Hanson.
478 properties or 62 percent of sold properties were financed conventionally. Cash purchases amounted to over 16 percent of the sold properties. 10.7 percent of sold homes were financed with an FHA Loan.
Download the detailed MLS Report
for January 2020. Additional Statistics and information about the Des Moines area housing market are available at the DMAAR website, www.dmaar.com
The Des Moines Area Association of REALTORS® is a professional association that represents more than 2,400 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®.