(Des Moines, IA) -- Des Moines saw another big month for home sales. Des Moines home sales jumped nearly 22-percent last month, compared to a year ago. More than 14-hundred properties sold. The Des Moines Area Association of Realtors says the median sale price was up nearly 7 percent, at nearly $230-thousand dollars compared to last year. The realtors say the market continues to be tight, with high demand from buyers and 38-percent fewer homes on the market. They credit continued low interest rates for the strong buyer interest.
The average number of days on market was down to 46 days for September 2020, as compared to 55 days from September 2019.
“The third quarter ended very strong with September sales over 21 percent higher. Homes are selling at such a fast pace that we encourage serious buyers to make sure they are pre-approved and have all their finances in order to move quickly on a home purchase. Working with a REALTOR will help ensure a smooth transaction in this fast-moving market. In many cases, homes are moving from active status to pending sale in only a day or two. With a limited amount of homes available in some price ranges and a lot of buyers ready, this a great time to sell your home before the end of the year,” stated DMAAR President Lance Hanson.