June Housing Stats
July 10, 2018
Des Moines Housing Trends
Des Moines, Iowa – July 10, 2018 – Several factors contributed to the real estate market in June, according to the housing trends reported by the Des Moines Area Association of REALTORS® (DMAAR).
1,530 homes sold in June 2018 which is up from May at 1,498 homes sold, but down from June 2017 at 1,737. The median sale price crept up over last month at $206,500 (June 2018) and increased 5.4 percent over June 2017 at $196,000.
Days on market continued to drop from 57 days in May 2018 to 51 in June 2018.
The number of properties currently for sale has increased 3 percent over May 2018 with 3,521 active listings in the metro area. May 2018 showed 3,417 active listings.
61 percent of homes sold in June 2018 were financed conventionally. 13.4 percent of homes sold in June were cash purchases and 9.4 percent were financed with an FHA loan.
"There were a number of factors in which contributed to the latest market numbers,” said Brennan Buckley, President of the Des Moines Area Association of Realtors. “Weather, a slight uptick in interest rates, and limited inventory at the entry-level all contributed to June sales and pending activity. These are against the backdrop of a strong local economy and job market, the real estate market continues to be strong in Central Iowa.”
The Des Moines Area Association of REALTORS® is a professional association that represents the almost 2,200 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®.