Des Moine's Homes Are Selling Faster and For More Money

News provided by

The Des Moines Area Association of REALTORS®

Jul 23, 2013, 07:00 ET


Des Moines, IA (PRWEB) July 23, 2013 -- The story on the housing marketing in Des Moines just keeps getting better. Median sales prices continue to rise, increasing by 3.6% every month since January. Not only are the homes selling for more money but they’re selling faster than they have since November of 2007 according to trends and statistics published today by the Des Moines Area Association of REALTORS®.

“The big story this month is the continuing rise in median sales price,” says Larry Pickering, president of the Des Moines Area Association of REALTORS®. “The number just keeps increasing, month after month. We know this will begin to slow down as mortgage interest rates rise, but for now this is very good news for sellers.”

The Association’s report shows that 1,144 contracts were written in June and 1,038 contracts closed. There were 4,147 active listings, a number that is also on the increase as the prime selling season is well underway.

Pickering noted, “One of the other stats that really speaks to the health of our local market is the days on market number. For the month of June, the days on market average was only 84. The last time we saw numbers that low was in November of 2007. A year ago, we were at 105 days, so that demonstrates how active the market is right now,” He went on to say, “with inventory still below where we were a year ago by about 500 houses – the buyers know they need to act quickly or they’ll lose that dream home to another buyer.”

Additional statistics and information about the Des Moines housing market are available at the DMAAR website, http://www.BuyNowDSM.com.

The Des Moines Area Association of REALTORS® (DMAAR) is a professional association that represents the 1,400 Des Moines–area REALTORS® who are members. The mission of DMAAR is to be the voice of real estate in the Des Moines area. The term REALTOR® is a registered trademark, which identifies real estate professionals who adhere to a strict code of ethics as members of the National Association of REALTORS®.

Larry Pickering, The Des Moines Area Association of REALTORS®, http://www.BuyNowDSM.com, (515) 453-6506, [email protected]