Des Moines home sales dip in July, still above pre-pandemic level

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(Des Moines, IA) -- Des Moines home sales in July were 8-percent lower than a year ago, but still higher than pre-pandemic levels. Realtors say just over 17-hundred homes sold last month. Homes continued to sell at a record pace, within 24-days on the market. The median sale price rose more than 8-percent over last year to $250-thousand dollars.

The Des Moines Area Association of Realtors says the number of properties on the market in Julyimproved improve slightly over June with 2,086 properties on the market compared to 1,838 properties in June. In July of 2020, there were 2,785 properties on the market. 

In past years that were not influenced by a pandemic, the metro has 3,500-4,100 properties on the market in the summer months. 

“July was another month of small gains in the number properties on the market, which is a positive sign toward a more balanced market. While the sales dipped slightly, homes continued to sell extremely fast and the median price climbed again. It is important to keep in mind that sales are still well over the number of sold properties we saw 2 years ago. The slight decline in pending home purchases and sold purchases may indicate buyers electing to be patient and wait for more homes to come on the market,” stated President Ted Weaver.

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