DMAAR May Housing Stats

Des Moines Real Estate Market On The Rise

June 11, 2020

The Des Moines Area Association of REALTORS® (DMAAR) reports May sales decreased by 8.4 percent from last year with 1,299 sold properties compared to 1,419 solds in May 2019.

“Closed sales were down May 2020 as was expected due to the slowdown from COVID-19 during the period between March 15 to May 1. We are seeing the rebirth of the growth we were experiencing prior to the pandemic. May Pending sales are up 18.3 percent from 2019. The number of homes available is slowly rising to try to meet the demand but it is still a sellers' market now. With that said, interest rates are near record lows, so it's a great time to make that purchase,” stated Lance Hanson, DMAAR President.

The Des Moines Metro area made the top 10 list of Most Favorable Areas for Millennials During the Pandemic.  The National Association of REALTORS Resarch team chose these top 10 metro areas on a combination of better affordability compared to a year ago, relatively better inventory availability, higher shares of millennial residents, lower shares of most affected industries by the lockdown and fewer job losses during the pandemic than average.

Des Moines has a 31 percent share of Millennials. "We are creating this new generation of young people staying here. It’s changing now. Overall, we’re lowering the age of our population," continued Hanson. He also mentioned the big draws that Des Moines offers. "With bike trails, art, vibrant restaurants and nightlife, and great theater productions, we have a socially diverse system. We even have one of the greatest art festivals in the country!"

The average number of days on market decreased, with 55 days for May 2020 compared to 65 days in May 2019. Properties in many price ranges sold quickly. 774 properties sold in less than 30 days. 

The median sale price is higher than last year at this time. May’s median sale price came in at $224,000 while May’s median sale price in 2019 was $210,000. 

The number of properties available fell 9% from last May with 3,068 homes on the market.

944 properties or 72 percent of sold properties were financed conventionally. Cash purchases amounted to 7.6 percent of the sold properties. Over 11 percent of sold homes were financed with an FHA Loan.

Additional Statistics and information about the Des Moines area housing market are available at

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®. 

Sources: National Association of REALTORS®, REALTOR® Magazine, DMAAR Multiple Listing Service.