According to IAR’s March 2014 Housing Trends Report, home prices increased by 1.7 percent from last year at this time. The average sale price was $143,565 in 2013 and $146,059 in 2014. Median Sales Price showed no change, staying at $125,000. Twenty-six local Realtor® boards reported increases in sales price.

Has the Late Spring Affected Iowa Home Sales?

Press Release- CLIVE, IOWA (April 2014) – The latest report from the Iowa Association of Realtors® (IAR) shows that home sale prices continued to increase across Iowa.

According to IAR’s March 2014 Housing Trends Report, home prices increased by 1.7 percent from last year at this time. The average sale price was $143,565 in 2013 and $146,059 in 2014. Median Sales Price showed no change, staying at $125,000. Twenty-six local Realtor® boards reported increases in sales price.

(Techmark Stats - Iowa Association of REALTORS256)The number of sales decreased statewide; dropping 16.2 percent from last March. The report indicates a total of 2,300 homes sold/closed in March 2014, while 2,743 homes sold/closed in March of 2013.

(Techmark Stats - Iowa Association of REALTORS256)Days on the Market (DOM) improved as homes sold 4 days faster than this time last year.  The average number of days on the market in March was 101 days, down 3.8 percent from last March. Twenty-nine local Realtor® boards reported a decrease in the average number of days on the market.

(Techmark Stats - Iowa Association of REALTORS256)Kathy Miller, IAR 2014 President reflects on the stats by saying, “The inclement weather we’ve experienced this winter, has unquestionably affected Iowa’s home sales.  Hopefully with warmer weather in sight, sellers will be able to get their homes market-ready, and buyers will be more inclined to start packing.”

As expected, Q1 Sales are down slightly over last year.  In Q1 2013, sales were 6,571, and in Q1 2014, sales were 6,041; a decrease of 8 percent.  Price however, showed an increase of 2.3 percent, going from $140,590 in Q1 2013 to $143,859 in Q1 2014. Days on the Market (DOM) also decreased by 3.8 percent, or 4 days.

The information used to create the March 2014 Housing Trends report was current as of April 10 at 11:05 a.m. The information is subject to change due to the dynamic nature of the IAR’s housing statistics system, which is updated hourly based on information present in local participating MLS (multiple listing service) systems.

The term REALTOR® is a registered trademark, which identifies real estate professionals who follow a strict code of ethics as members of the National Association of REALTORS®. The Iowa Association of REALTORS® is the state’s largest real estate professional organization representing more than 6,400 members and affiliates. The IAR releases a Housing Trends Report each month. Data is collected from local REALTOR® boards through their multiple listing service (MLS), which tracks sales activities in the board area. The IAR compiles all of the local board data into the statewide report each month. Reports are available online to IAR members and affiliates with a login and password. Anyone is eligible to become an IAR affiliate. For membership information, visit www.iowarealtors.com.

**All information provided by the Iowa Association of Realtors

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