(Undated) -- Home sales in Iowa broke a record in June. The Iowa Association of Realtors says sales were up nearly 9-percent in June compared to the same month a year ago. So far this year, 21,714 homes have sold, eleven-percent more than sold in the first half of 2020.
June’s housing market in Iowa broke another record with homes selling almost 46 percent faster, or in 33 days on average, than a year ago.
The median sales price for June 2021 was $205,000 compared to $181,123 in June of last year.
The Association says the number of homes available for sale is low in most price ranges, with inventory nearly 26-percent lower compared to a year ago, with only 9,378 homes on the market statewide.
“While homes in June sold very quickly, we are seeing an increase in homes available for sale. We’ve experienced a slow increase in homes available for sale the last four months and hope that continues after seeing 11 months of declining inventory. If this trend continues, this will help stabilize our market over the long-term,” stated IAR President Jen Burkamper.
“We broke another record in June with the percent of list price received at 100 percent. This ratio shows the difference in the final sale price when compared to the original or list price. This average of 100 percent shows that many homes continue to sell over the list price due to high demand for properties and lack of homes available for many price points. We cannot stress enough the importance of using a Realtor as a professional guide through this fast-paced market with multiple offers,” continued Burkamper.