June Housing Stats: More Properties For Sale, Prices Up
July 10, 2019
The Des Moines Area Association of REALTORS® (DMAAR) reports June saw increased activity in the real estate market. Median sale price was up 8.5 percent from June 2018. The median sale price came in at $224,000 last month. 1,496 residential properties were sold in June 2019 while 1,530 were sold in June 2018. This is 2.2 percent decrease from last year.
Properties are selling faster than last month with an average of 59 days on market. Days on market is slightly higher than June 2018 when properties were on the market for an average of 51 days.
The number of properties for sale continues to increase. There were 100 more properties for sale than in May and an increase of 9.1 percent when compared to June 2018.
“Real estate activity picked up in June and our stats are showing more properties on the market. We have seen an uptick in price changes which indicates sellers are motivated to sell their homes. Over 1,700 properties had a price decrease last month. With low interest rates and more homes for sale, now is a great time to buy a home and settle in before the fall,” stated DMAAR President Jenn Clark.
1,012 properties or 68 percent of solds were financed conventionally. Cash purchases amounted to 11.1 percent of the sold properties. Only 11.2 percent of homes were financed with an FHA Loan.
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 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®.