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(Des Moines, IA) -- The median sale price in the Des Moines in the month of May rose nearly 12% to $275,000.
Realtors sold more than 1,400 homes last month, that's three percent lower than in May of 2021. The average days on market for a home was 31 days.
The Des Moines Area Association of Realtors says the number of available properties on the market in May rose again with 2,049 properties on the market compared to 1,791 properties in April. In May of 2021, there were 1,734 properties on the market.
- 78% of sold properties were financed conventionally.
- Cash purchases amounted to almost 10% of the sold properties.
- Almost 7% of sold homes were financed with an FHA Loan.
“The housing market continues to move quickly, oftentimes homes are sold within a couple of days. Inventory is being added every single day. With mortgage interest rates on the rise it is important to use a Realtor as your professional guide when buying or selling a home,” stated DMAAR President Jen Stanbrough.