DES MOINES, Iowa- Home sales were up 18-percent in July in Iowa, compared to last year. The Iowa Association of Realtors says the median sale price was $185,000, which is up slightly from last year. More than 52-hundred homes sold last month. Realtors say low interest rates are driving up sales, in almost every segment of the residential real estate market.
The Iowa Association of Realtors says pending sales climbed over 11.5 percent when compared to last year.
Homes sold in July were on the market for an average of 58 days which is two days longer than July of 2019. The overall available number of homes on the market decreased 18.6% percent with 12,365 properties currently on the market around Iowa.
The Association reports 24,631 closed sales so far this year, a 3.8 percent increase over 2019.
"Numbers are looking great this year compared to last in almost every segment of residential real estate. I know it sounds like a cliché saying “now is the best time to buy”, but with interest rates historically low, now is truly the best time to finance a home if you are thinking about buying," stated IAR President, Scott Wendl.