The median sale price of homes sold in the Greater Des Moines area climbed to a record $315,000 in March, according to data from the Des Moines Area Association of Realtors.

The median price was up 8.7% from $289,900 in March 2025 and rose 7.8% from February’s $292,000. The previous high of $312,000 was set in October and November.

The increase was driven in part by a greater share of higher-priced home sales during the month, said Scott Steelman, a real estate agent with Iowa Realty Co. and president of the Des Moines Area Association of Realtors. “There were more transactions of greater value [in March] than there had been in earlier months.”

In February, 34% of the homes sold ranged in price between $300,000 and $499,999, association data shows. In March, 38% of the homes sold were priced between $300,000 and $499,999.

Steelman said he expects the median sales price of homes to remain above $300,000, at least through the spring buying season. “About 25% of our inventory right now is in that popular price range of between $350,000 and $450,000,” he said.

Interest rates for home mortgages are slightly lower than they were a year ago, when they hovered around 6.6%. In March, rates ranged between 6% and 6.38%, data from Freddie Mac shows.

“If rates could stay under 6%, at the 5.5% to 5.9% range, I think that would add a lot of confidence to the market,” Steelman said. “Potential home buyers would be able to lock in a rate and understand what it means for their budgets. But having rates fluctuate the way that they have been has kept some people out of the purchase market and staying in the rental market. They aren’t comfortable with that fluctuation.”

Other data from the association’s March report show that:

• 1,063 homes were sold, up 11% from a year ago and 42% from February.
• Active listings totaled 3,892, 11.6% more than a year ago and slightly higher than the 3,487 properties listed in February.
• Homes were on the market an average of 83 days, up 15.3% from a year ago and 10.7% from February.
• 759 transactions, or 71% were financed conventionally; 152 sales, or 14%, were cash transactions.
• 217 homes were taken off the market in March.