As fall ramps up, the Des Moines metro housing market presents a mix of stability and change, offering buyers and sellers important insights into the housing market. Listing inventory has seen a notable increase, giving buyers more choices, while the median sales price and days on the market have remained steady year-over-year.
September home sales decreased month-over-month and year-over-year by 10.40% each. September saw 973 contracts closed compared to August’s 1,182 contracts closed. Last year there were 1,086 homes sold.
Pending sales in September saw a slight dip of 1.29% with 1,146 contracts written compared to last month’s 1,161. Last year’s pending sales were lower by 16.94% or 980 contracts written.
In September, there were 3,889 homes listed in the Des Moines metro. Year-over-year comparisons for September show an impressive 20.37% increase in active listings compared to the 3,231 homes listed last year. Monthly, growth was also on the rise by 5.45% from the 3,688 homes listed in August, giving buyers more options in the current market in recent weeks.
Median sale price in the metro fell 0.34% in September, bringing the new median sale price to $290,000 compared to August’s $291,000. The median sale price did not change from last year.
Days on the market remained the same from August to September at 49 days. Year-over-year, there was a slight increase of 6.52% from 46 days.
For more statistical information on the Metro Housing Market, see https://www.dmaar.com/news/housing-stats
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