Iowa Home Sales and Home Prices Increase in September

Press Release – CLIVE, IOWA (Oct. 2014) – According to the latest housing report from the Iowa Association of Realtors® (IAR), home sales and prices were up in September as compared to last year.

The September 2014 Housing Trends Report showed that sales rose .6 percent from this time last year. A total of 3,191 homes sold/closed this September, while only 3,172 homes sold in September 2013.

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The median sale price increased by 1.6 percent, rising from $131,950 in September 2013 to $134,000 this year. The average sale price also went up 3.9 percent. The average sale price rose from $153,058 in September 2013 to $156,095 in September 2014.

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Days on the market improved by 1 day from a year ago. The average number of days on the market in September 2014 was 80.

Although new active listings increased by .5 percent in September, the statewide inventory of homes on the market decreased slightly by .1 percent from last year. Inventory was 20,039 in 2013, and 20,017 in September 2014. Last September there were 4,830 new active listings, while there were 4,870 new active listings this September. The months’ supply of inventory (MSI) was 6.0 months which increased only slightly at .4 percent from last year.

“The gradual increase in the number of homes on the market helped bump sales up in September.” IAR President Kathy Miller.

2014 Q3 Report

Closed sales were down slightly by 2.0 percent for the quarter, as 11,438 homes sold/closed in Q3 2013 and 11,204 homes sold/closed in Q3 2014. There was a 2.1 percent increase in the median sale price from Q3 2013 to Q3 2014. The median sale price in Q3 2013 was $137,000 while the median sale price in this quarter was $139,900. The average sale price increased by 1.3 percent.  Days on the market remained low dropping just 1 day when compared to Q3 2013.  The average days on market for Q3 2014 were 78 days.

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The information used to create the IAR September 2014 Housing Trends Report was current as of October 10 at 11:30 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 over 6,500 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. 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.