2020 turned out to be an excellent year for real estate activity in the Des Moines Metro area reported the Des Moines Area Association of REALTORS® (DMAAR). Residential sales were up over 16.5 percent from 2019 and the median sale price increased by 5.1 percent with homes selling extremely fast with an average of 49 days on market.
16,640 residential properties sold in 2020 compared to 14,273 homes in 2019.
The media sale price calculated to $226,000 for 2020. In 2019, the median sale price was 215,000.
“2020 presented us with many challenges including the Coronavirus pandemic. Despite challenges with a low number of homes on the market in certain price ranges, homes sold very well throughout the year. We are proud of how our Realtors adapted their practices at the start of the pandemic to continue to help our buyers and sellers take advantage of great interest rates and still buy and sell their homes safely. The real estate industry is such an important part of the Iowa economy. We were able to work within the new rules and guidelines to keep Iowa moving forward,” stated DMAAR President Lance Hanson.
“The Des Moines Metro continues to be a great area to live and work. Seeing our sales up over 16 percent is proof of Des Moines’ popularity. In early December, Des Moines was identified by the National Association of REALTORS® as a top 10 market due its resilience during the pandemic and its future outlook for the next 2-3 years,” highlighted Hanson.
Interesting Stats from 2020
• 60 percent of the properties sold in 30 days or less.
• 88 percent of sold properties were priced between $50,000-$400,000.
• 41 properties sold for $1 million or more
“DMAAR recognized the additional need by so many during 2020. DMAAR gave $64,000 to several local food banks earlier in 2020. In addition, the DMAAR Foundation donated a total $75,000 to deserving organizations. We have so many Realtors serving and giving back at the local level and we wanted to step in as an organization and take that a step further,” stated Hanson.
The $75,000 was split evenly among between these charities and causes.
Central Iowa Shelter
Children & Families
House of Mercy
Hawthorne New Directions
Youth Homes of Mid America
Homes of Oakridge
Beacon of Life
YESS Emergency Shelter
Iowa Homeless Youth Center
December’s real estate activity continued our strong second half of 2020. December 2020 sales jumped 38.8 percent compared to the number of sold properties in December 2019. 1,446 residential properties sold in December 2020, while only 1,042 sold in December 2019. Homes sold very fast at average of 44 days compared to 62 days in 2019. Homes sold 6.8 percent higher in December 2020. Median sale price came in at $233,000, compared to $218,182 in December 2019.
The Des Moines Area Association of REALTORS® Housing Trends Report is a report based on activity for the DMAAR Multiple Listing Service. Properties included in this report are from REALTOR® offices in the Des Moines Metro and surrounding area including Newton, Pella, Knoxville, Indianola, Winterset, Stuart, Perry, Polk City and many more communities. Additional Statistics and information about the Des Moines area housing market are available at the DMAAR website, www.dmaar.com.
The Des Moines Area Association of REALTORS® is a professional association that represents more than 2,400 REALTOR® members. 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®.
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