July's Iowa home sales dip 8%

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(Undated) -- July home sales in Iowa were down eight-percent over last year. The Iowa Association of Realtors say more than 5,000 properties sold last month. The median sales price was up eleven percent, at 205-thousand dollars. The realtors say homes are still selling quickly, within 30-days, which is nearly 50-percent faster compared to one year ago and broke the June record of 33-days.

The IAR says the year-to-date sales total is 7.5 percent higher than the first seven months of 2020. The year-to-date sales total is 26,925 properties. The realtors say homes available for sale continues to be low, more than 23-percent lower than last year, with 9,387 homes on the market.

"We saw another month of homes selling extremely fast statewide, breaking another record. Keep in mind, the number of homes sold in July was more than 12 percent higher than July of 2019 which was before the pandemic and a typical July from a historical perspective. Normally May, June and July and August are the peak of our seasonal year for home sales. We shall see how August finishes, but it appears this seasonal trend will hold true in 2021. We were pleased to see the number of homes on the market continue to improve. There are still a lot of interested buyers on the market and we encourage possible sellers to speak to a local Realtor to get a market analysis on their home,” stated IAR President Jen Burkamper.

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