June Home Sales Dipped by 3.5%, Prices Rose by 11.6%
July 11, 2022
Des Moines metro home sales dipped slightly in June by 3.5% compared to June of last year, reported the Des Moines Area Association of REALTORS® (DMAAR).
1,682 residential properties sold in June 2022 while 1,743 homes sold in June of 2021. The median sale price rose by 11.6% when compared to June of 2021. $283,500 was the median sale price in June 2022. The average days on market calculated to 22 days.
The amount of available properties on the market in June rose again with 2,364 properties on the market compared to 2,049 properties in May. In June of 2021, there were 1,838 properties on the market.
1,268 properties or 75% of sold properties were financed conventionally. Cash purchases amounted to over 12% of the sold properties. 7.7% of sold homes were financed with an FHA Loan.
“Home sales dropped slightly compared to last June. Our sales were relatively strong considering the records set last year and the rising interest rates. The increase in homes on the market bodes well for buyers. We’re up 28.6% from last June. We encourage any buyers and sellers to be sure their agent is a Realtor® to help guide them through these unique market conditions,” stated DMAAR 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 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®.