Des Moines home sales rose 11 percent in June over May, with a median sale price of $161,700.
The Des Moines Area Association of Realtors announced today that 960 contracts closed in June.
"At the end of June, we had sold 700 more homes than one year ago at the same time of year," said Ken Clark, president of the association, in a release. "The median sale price rose slightly, and is just over 1 percent higher than one year ago, indicating our home values are stabilizing as we head into the third quarter of 2012."
Clark said the association believes more buyers are entering the market because the number of people buying homes between $250,000 and $500,000 has increased 20 percent. That increase also drove up the average price of homes about $3,000.
The number of new purchase contracts written in June decreased to 951, a 3 percent decline from the previous month. The average time that homes stayed on the market decreased by four days, to 105 days, and currently there are 4,652 listings, down 37 from May.