FEBRUARY SALES UP 10.4% DESPITE LOW INVENTORY


March 10, 2021 February sales increased 10.4 percent from February of 2020 in the Des Moines Metro area reported the Des Moines Area Association of REALTORS® (DMAAR). The median sale price rose 16.6 percent compared to the number of sold properties in February 2020.


851 residential properties sold in February 2021, while only 771 sold in February 2020.


The median sale price rose to $226,000 in February 2021 compared to $193,900 in February of last year.


The number of properties on the market continues to fall far below last year’s active listings. Only 1,787 homes were on the market compared to 3,487 active listings in February 2020.


612 properties or 71.9 percent of sold properties were financed conventionally. Cash purchases amounted to over 10 percent of the sold properties. 11 percent of sold homes were financed with an FHA Loan.


Homes continue to sell extremely fast with an average of 46 days compared to 74 days in February 2020.