Median Sale Price Up 8.4% While Sales Dip in November
December 12, 2019
The Des Moines Area Association of REALTORS® (DMAAR) reports an increase in median sale price of 8.4 percent and a dip in November sales of 4.7 percent when compared to this time last year.
1,048 residential properties were sold last month while 1,100 were sold in November 2018.
The median sale price came in at $212,500 last month compared to $196,000 in November of last year.
Properties are selling relatively quickly with an average of only 54 days on market.
The number of properties on the market in November was higher than last year at this time. 3,891 properties were available in November. That is 2.4 percent higher than November of last year.
“We are seeing the typical seasonal slowdown of sales as we transition from fall to winter. The median price remains higher than last year, which bodes well for sellers. As we enter the holiday season, the Realtors in the Des Moines Metro Area embrace their role in improving their community. The DMAAR Foundation gave $75,000 to several local charities this month,” stated DMAAR President Jenn Clark.
The following local charities will receive a donation from the DMAAR Foundation: American Red Cross, Anawim Housing, Camp Sunnyside, Central Iowa Shelter & Services, Children & Families, Dorothy’s House, MercyOne - House of Mercy, Hope Ministries, Hawthorne Hill - New Directions Shelter, Iowa Homeless Youth Centers, Oakridge Neighborhood, Orchard Place, Youth Homes of Mid-America, Beacon of Life, YESS Youth Emergency Shelter.
DMAAR Foundation members are: John McRoberts, President, Mike Knapp, Marcia Wanamaker, Doug Burnett, Randy Clarkson, and Robin Polder.
698 properties or 67 percent of sold properties were financed conventionally. Cash purchases amounted to over 15 percent of the sold properties. 10.7 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®.