Spring Weather Brings Increased Activity to the Des Moines Metro Housing Market in March

April 15, 2024

March Stats

The Des Moines area spring housing market experienced a blossom with increased activity in March. Year-over-year, market stats remained steady, but small boosts in monthly movement provided for more fruitful home buying and selling activity.

“With the weather getting warmer, we saw an increase in inventory, providing more options for buyers to find their ideal homes,” Erika Hansen, DMAAR President, said. "As we get into the swing of spring, it's the perfect time for prospective home buyers and sellers thinking of jumping into the market to get in touch with their REALTOR®. Ensuring your well-represented and prepared for these typically busier market months will give you the edge up!"

Home Sales Increase
The number of home sales in the Des Moines metro area increased dramatically 52.89% in March with 1,032 homes sold compared to the 675 sold in February. Year-over-year, there was a subtle decrease of 3.55% from 1,354 homes sold in March 2023. 

Pending sales also saw an increase of 16.41% in contracts written in March, with 1,348 homes pending sales compared to last month's 1,158 pending sales. March 2023 had 1,354 pending sales which has this year’s figure falling short by 0.44%. 

The monthly and yearly perspectives reveal a strong picture of active listings in the metro area. March saw 2,931 active listings, a 2.77% boost from the previous month of 2,852 active listings. Last month’s figures represent a 18.61% increase compared to the 2,471 active listings of March 2023. 

March median sale price of $285,000 increased 7.55% compared to last month’s $265,000. March 2023 had an increase of 5.56%, with $269,990 median sale price. 

In March, homes averaged 67 days on the market which is slightly down from February’s 69 days and up from last year’s 58 days on average. 

Of the properties sold in March, 673 or 65.21% were financed conventionally. Cash purchases amounted to 16.47% of the properties sold, and 11.63% 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®.