Houses in Des Moines area ‘still selling in less than a month’
In August, 1,678 residences were sold in the Des Moines area, the third straight month home sales have fallen, data from the Des Moines Area Association of Realtors shows.
However, the number of houses sold in August outpaced the 1,628 sold a year ago and was 190 more than were sold in August 2019, data shows.
“We definitely saw a bit of a slowdown in August,” Ted Weaver, association president said in a prepared statement. “Typically, the market tends to see a gradual decrease in activity as school restarts and families settle into their new routine. With that said, homes are still selling in less than a month in most cases.”
Homes sold in an average of 29 days in August; a year ago, residences sold in an average of 50 days in the Greater Des Moines market, which includes Polk, Dallas, Warren, Jasper, Marion, Madison and Guthrie counties.
Specifically in August, association data shows:
•The median sale price of a house sold in the Des Moines area was $255,000, a record high. In July, the median sale price was $250,000.
•Pending sales totaled 1,423, down 6.6% from July when there were 1,524 sales pending.
•1,235, or 74%, of the 1,703 properties sold were financed conventionally; 191 properties were paid for with cash.
•447, or 26%, of the residences sold were priced at $199,999 or less. In August 2020, 457, or 28%, of the 1,628 residences sold were priced at $199,999 or less.
•23 residences were sold for $1 million or more. In August 2020, three houses were sold for $1 million or more.