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(Undated) -- Iowa home sales rose five percent last month compared to a year ago. The median sales price rose more than six percent to just over 202-thousand dollars. Year-to-date sales have been up 7.7% compared to 2020.
The Des Moines Association of Realtors says homes continue to sell quickly. Iowa properties sold in an average of 31 days, which are near record-lows for Iowa. In August 2020, homes sold in 57 days on average.
4,842 properties sold in Iowa during August.
Realtors say the number of homes available for sale is slowly rising, but still lower. The inventory of homes was 19 percent lower than in August 2020 with 9,487 homes on the market statewide.
“While homes did sell quickly, the frenetic pace we saw in late Spring and early Summer has subsided. We believe this to be the start of the seasonal slow down we see each fall as school restarts and families settle into their new routine. Despite the challenges with available homes on the market and new construction struggling to keep up with demand, 2021 has been a strong year thus far in terms of number of sales and low interest rates. We encourage potential sellers and buyers to seek the professional advice of a Realtor early in the process,” stated IAR President Jen Burkamper.