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Number of houses for sale in Des Moines area on the rise


More than 2,660 homes were listed for sale in the Des Moines area in August, the highest number since July 2020, data from the Des Moines Area Association of Realtors shows.

The increase in listings comes as interest rates for mortgages continue their upward climb. On Thursday, the 30-year fixed-rate mortgage averaged 6.29%, Freddie Mac reported. The rate is the highest it’s been since October 2008, when it hit 6.46%.

“The housing market continues to face headwinds as mortgage rates increase,” Sam Khater, Freddie Mac’s chief economist, said in a prepared statement. “Impacted by higher rates, house prices are softening, and home sales have decreased. However, the number of homes for sale remains well below normal levels.”

In August, 1,470 residences were sold in the Des Moines area, up slightly from the 1,452 sold in July, association data shows. In August 2021, sales totaled 1,678 in the Greater Des Moines area, which includes Polk, Dallas, Warren, Jasper, Marion, Madison and Guthrie counties.

Statewide, 3,800 homes were sold in August, slightly more than the 3,777 sold in July, Iowa Association of Realtor data shows. However, in August 2021, 4,952 homes were sold statewide.

Other highlights from the association’s August home sales report include:

  • The median sale price of a residence sold in the Des Moines area was $268,250, 2% less than in July’s $272,990. Statewide, the median sale price of a single-family home was $230,000; the median sale price for a townhouse or condominium was $229,900.
  • Residences in the Des Moines area sold in an average of 24 days in August. Statewide, single-family homes sold in an average of 23 days; townhomes or condos sold in an average 50 days.
  • Ten of the residences sold in the Des Moines area in August were priced at $1 million or higher. In August 2021, 17 residences were sold for $1 million or more.

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