Iowa home sales, prices increasing - KWWL - Eastern Iowa Breaking News, Weather, Closings

Iowa home sales, prices increasing

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CLIVE (KWWL) -

The Iowa Association of Realtors reports that home prices and sales increased in Iowa in June.

The IAR's June 2011 Housing Trends Report shows the statewide average sales price on homes in June 2011 was up 7.6 percent from May.  The average sales price was $151,95, up around $10,000 from one month ago.  June 2011 prices were very comparable to June 2010.

The total number of homes sold across Iowa last month was 3,292, representing a 12 percent increase from May.

June had the most number of homes sold in a single month all year long since June of 2010, when 4,485 homes were sold.

"Some of the June 2011 closings reflect pending sales that we saw on the books in previous months when buyers were taking advantage of great prices and mortgage rates," said Kurt Schade, president of the IAR.

Twenty-one of the 44 local boards across Iowa reported increases in average sale price, while ten boards reported increases in the number of sales from June 2010.  Sixteen boards also showed a decrease in the average number of days on the market.

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