REALTORS® Continue to Make Impact on Communities Despite Slight Slip in Market

December 13, 2023

A seasonal slow-down has descended on the Des Moines metro housing market, an expected event as prospective buyers and sellers settle into the winter months. 

“While we are seeing a traditional winter dip in many metrics in the Des Moines metro market, those continuing to explore housing opportunities remain highly involved and benefit from the expertise of our REALTOR® members,” Erika Hansen, DMAAR vice president, said. 

“In addition to working with prospective buyers and sellers this fall, our REALTOR® members are actively engaged in their communities, giving back at this time of the year,” Hansen noted. “The DMAAR Golf Committee recently donated proceeds from a fall event to My Happy Place, a nonprofit organization of passionate volunteers whose intention is to create healing environments for individuals who are struggling with a serious health issue. This is just one of the many charitable things that the REALTORS do for their communities.”

Home Sales Slip 
The number of home sales in the Des Moines metro area dipped 4.5% in November with 912 homes sold compared to the 955 homes sold in October. Year-over-year the margins were a bit closer, a 2.3% decline from the 933 homes sold in November 2022. 

Pending sales also saw a wider decline of 19.4% with 785 pending sales recorded in November, compared to the 974 that took place in October. Year-over-year, the decline was more moderate with a 4.3% decline when compared to the 820 pending sales of November 2022. 

After several months of slight increase, the number of active listings in the Des Moines metro once again saw a decline, though it was minimal. The 3,249 active listings of November accounted for a 1.8% decline from the 3,309 active listings of October. Compared to November 2022, however, the active listings constituted a 10.1% increase from the 2,952 active listings last year.  

November’s median sale price inched upward slightly from that of October. A median sales price of $274,900 represents a 0.1% increase from October’s median price of $274,745, and a 9.9% increase from the $250,000 median sale price of November 2022. 

Last month, homes averaged 47 days on the market, up from the 43 days homes were on the market in October, but up significantly from the 33 days on the market one year ago.

Of the properties sold in October 565, or 62%, were financed conventionally. Cash purchases amounted to 23% of the sold properties and nearly 10.4% were financed with an FHA Loan.

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®.