April’s real estate activity warmed up for the spring months ahead. Sales rose over 13 percent from April of 2020 in the Des Moines Metro area reported by the Des Moines Area Association of REALTORS® (DMAAR).
1,322 residential properties sold in April 2021, while only 1,169 sold in April of 2020.
The median sale price increased 13.7 percent to $244,358, compared to $215,000 in April of 2020.
With inventory still very low, the number of properties on the market continues to fall well below last year’s number. With only 1,755 homes on the market, that calculates to 47 percent less homes available when compared to April 2020.
941 properties or 71 percent of sold properties were financed conventionally. Cash purchases amounted to over 9.6 percent of the sold properties. 10.6 percent of sold homes were financed with an FHA Loan.
Homes continue to sell very fast at an average of 40 days compared to 61 days in 2020.