(Des Moines, IA) -- Des Moines saw a 10-percent jump in the median sale price of homes last month.
The median sale price is $260-thousand. Home sales, fell by three-percent last month compared to last year, according to the Des Moines Area Association of Realtors.
The Des Moines Area Association of Realtors reports 1,496 residential properties sold in October 2021, while 1,547 homes sold in October of 2020.
The amount of available properties on the market in October dropped slightly over last month with 2,255 properties on the market compared to 2,279 properties in September. In October of 2020, there were 2,566 properties on the market.
“The market in October seemed to be fairly steady and showed the typical seasonal slowdown in activity. We were pleased to see the number of properties on the market was almost equal to last month. We know construction continues in many neighborhoods within the Des Moines Metro while we enjoy some nice fall weather,” stated DMAAR President Ted Weaver.
"Interest rates are still low, we're expecting them to increment up over the next year, and so your purchasing power is likely at its all-time high and with those inventory levels going up you've got a much better chance of finding a home,” continued Weaver.