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(Des Moines, IA) -- Home sales in Des Moines rose 5.6 percent last month, slightly more compared to a year ago.
The Des Moines Area Association of REALTORS® (DMAAR) says 972 residential properties sold in January 2022 while 920 homes sold in January of 2021. The median sale price remained the same compared to January of 2021, at $250,000. The realtors say average days on market calculated is 39 days.
The realtors say the number of available properties dropped last month with 1,692 properties on the market compared to 1,947 properties in December. In January of 2021, there were 1,957 properties on the market.
“A sales increase in January is a great start to 2022! With the extremely low number of homes on the market, we’re encouraging buyers to have patience in finding their homes. It appears that First Time Homebuyers are purchasing properties in the $100,000-$300,000 range. Interest rates remain well below the historical average, so it’s still a great time to buy! We can’t stress enough the importance of getting pre-approved and speaking to your local Realtor® about starting the selling or buying process,” stated 2022 DMAAR President Jen Stanbrough.