The good news just keeps getting better if you are selling your home in Iowa. Sale prices and number of homes sold continue their upward trend. Sales increased almost 10 percent and average days on market reached a new 3 year low according to the Iowa Association of REALTORS®.
Homes continue to sell at a fast pace in most communities. Days on market dropped to 69 in June, which is the fastest rate in over 3 years. This is a 14.8 percent improvement from June of 2014.
Sales increased 9.7 percent from a year ago. 4,749 homes were sold last month as compared to 4,329 homes that sold in June 2014. Active listings were up 3.7 percent and Pending listings were up 7.6 percent when compared to last June.
The IAR’s 2015 June Housing Trends Report shows the median sale price rose 6.0 percent. In June 2014 the median sale price was $143,900 while the median price last month was $152,500.
“The second quarter statistics demonstrate the strong housing market we have had in Iowa this year. In fact, the second quarter of 2015 shows a higher number of sold properties than we have had in the last eight years. We’ve had a 10 percent increase in sold properties when comparing to the second quarter of last year. Buyers are realizing that it is still a good time to buy with relatively low interest rates. Homeowners are hearing that homes are selling fast with low inventory levels. It is a great time for them to put their homes on the market,” stated IAR President, Jon Yocum.
The days on market of 77 days hit a new low when comparing second quarter performance of this year to the past eight years.
The information used to create the IAR 2015 June Housing Trends Report was current as of June 24 at 7:45 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.