July Housing Stats: More than 4,000 Properties on the Market
August 13, 2019
The Des Moines Area Association of REALTORS® (DMAAR) reports July continued a busy summer of activity in real estate.
Median sale price was up 7.1 percent from July 2018. The median sale price came in at $215,000 last month.
1,420 residential properties were sold in July 2019 while 1,462 were sold in July 2018. This is 2.9 percent decrease from last year.
Properties are selling faster than last month with an average of only 54 days on market. However, selling slightly slower than July of last year.
The number of properties for sale continues its recent upward trend. There were 180 more properties for sale than in June and an increase of 9.7 percent when compared to July 2018.
“Real estate activity has been steady so far this summer. We reached 4,000 properties on the market which is the highest number we have seen in years. Over 57% of the sold properties in July were sold for less than $240,000. We are seeing a fair amount of price reductions right now. Sellers are motivated. This is an excellent time for a first-time home buyer to buy a home with low interest rates and more homes for sale.” stated DMAAR President Jenn Clark.
950 properties or 67 percent of solds were financed conventionally. Cash purchases amounted to 14.3 percent of the sold properties. 9.4 percent of homes were financed with an FHA Loan.
Additional Statistics and information about the Des Moines area housing market are available on the DMAAR Housing Stats Page
. View the detailed report
for July Housing Stats.
The Des Moines Area Association of REALTORS® is a professional association that represents the almost 2,300 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®.