Median Price Increases, Steady Sales in October
November 14, 2019
The Des Moines Area Association of REALTORS® (DMAAR) reports a steady October in sales and an increase of 2.7 percent in median sale price when compared to this time last year.
1,150 residential properties were sold last month while 1,141 were sold in October 2018.
The median sale price came in at $196,400 last month compared to $191,200 in October of last year.
Properties are selling relatively quickly with an average of only 53 days on market.
The number of properties on the market continues to be greater than last year. 3,994 properties were available in October. That is 2.1 percent higher than October of last year.
“Homes are selling at a good price for sellers. We are seeing the beginning stages of the overall seasonal slow down in the volume of home sales. With that said, homes that are priced right are still selling quickly. With the holidays and year-end fast approaching, I would encourage anyone thinking of buying or selling their home to ask their Realtor for the local neighborhood market stats,” stated DMAAR President Jenn Clark.
794 properties or 69 percent of sold properties were financed conventionally. Cash purchases amounted to almost 15 percent of the sold properties. 11.3 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 DMAAR website, www.dmaar.com
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®.