Home Sale Prices Increase, Home Sales Decrease Slightly

Previously posted by Amy Lucht | May 14, 2014

CLIVE, IOWA (May 14, 2014) – The average Iowa home sale price has reflected positive growth again in April, according to the Iowa Association of REALTORS® (IAR).

The IAR’s 2014 April Housing Trends Report indicates the average sale price of homes across Iowa in April 2014 was $152,786, up 4.6 percent from April 2013 when the average sale price was $146,119.  The median sale price increased slightly as well, going from $127,250 in 2013 to $127,500 in 2014, a .2 percent increase. The average sales price to list price ratio (sp/lp) also showed improvement, going from 95.4 percent to 95.7 percent, a .03 percent increase.

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“Although these may seem like slight changes, any time we see positive growth it instills confidence and encourages further activity within the marketplace,” said Kathy Miller, IAR 2014 President.

The IAR reports a 7.9 percent decrease in the number of homes sold in April compared to last year at this time. A total of 2,732 homes were sold in April 2014, while 2,967 homes sold in April 2013. Twenty-seven of Iowa’s 44 local boards reported increases in average sale price, and sixteen boards reported an increase in sales from 2013.

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The statewide average number of days on the market last month was 97 days, down 1 day or 1 percent from 98 days last April. Twenty boards showed a decrease in days on the market.

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Kathy Miller adds, “We continue to encourage people to invest in real estate. It provides a great way to build equity, personal wealth, stability and a sense of community.  With competitive interest rates and properties to choose from, the time to buy is now.”

The information used to create the April 2014 Housing Trends report was current as of May 10 at 6:37 p.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, visitwww.iowarealtors.com

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