More Homes on the Market in Des Moines Area, Solds Dropped in July

August 15, 2022 The number of homes on the market in the Des Moines metro area rose again, reported the Des Moines Area Association of REALTORS® (DMAAR).  2,596 properties were on the market in July compared to 2,364 properties in June. In July of 2021, there were 2,086 properties on the market.  

Home sales dropped in July by 14.7% compared to July of last year. 1,452 residential properties sold in July 2022 while 1,703 homes sold in July of 2021. 

The median sale price rose by 9.1% when compared to July of 2021. $272,990 was the median sale price in July 2022. The average days on market calculated to 25 days.

1,083 properties or 75% of sold properties were financed conventionally. Cash purchases amounted to 14% of the sold properties. 6.9% of sold homes were financed with an FHA Loan. 

“Home sales dropped in July which is in line with much of the metros in the U.S. Inflation and a relatively small supply of homes on the market has contributed to the sales drop and the increase in the median sale price. With that said, the number of properties on the market continues to slowly rise with a 24% increase over July 2021. We hope the recent dip in mortgage rates will provide a boost to our buyers and spur more sales,” stated DMAAR President Jen Stanbrough. 

Additional statistics and information about the Des Moines area housing market are available at the DMAAR Housing Stats web page.

The Des Moines Area Association of REALTORS® is a professional association that represents more than 2,700 REALTOR® members. The association consists of Realtors® from the larger metro area, including but not limited to communities such as: Adel, Perry, Polk City, Newton, Knoxville  Indianola, Pella, Winterset. 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®.