Iowa Home Prices are on the Rise

According to a news release from the Iowa Association of Realtors®, home prices are still going up and sales are steady throughout Iowa.

“The IAR’s March 2013 Housing Trends Report shows the median price across Iowa increased by 5.9 percent, climbing from $118,000 in March 2012 to $125,000 in March 2013. Similarly, the average sale price increased 4.4 percent. The average sale price was $138,265 last March and $144,372 this March.” Sales across the state increased by 0.7 percent with just 18 more homes selling last month than last March. The total number of homes that sold/closed was 2,672 in March 2013 and 2,654 in March 2012. Average days on the market dropped by a substantial 13 days from 120 days last March to just 107 days this March.

“We’ve been saying for months that the market is doing quite well here in Iowa,” says Don Marple, president of the Iowa Association of Realtors®. “Fortunately we didn’t see the extreme highs or lows in prices or sales that other areas of the nation experienced in the past few challenging years. We held pretty steady and continue to do so, often even better than steady. I think it’s reassuring for consumers to know that there is stability in our market, and the data indicates that buyers and sellers are feeling more and more confident about the situation across the state.”

The real estate market in the Cedar Rapids area is going to heat up soon. The warmer the temps get, the hotter this market becomes. If you are thinking about listing your home in the Cedar Rapids and surrounding areas, call 319-480-5262 today! Or, if you enjoyed this post, please become a fan on Facebook.