Iowa home sales rising - KWWL - Eastern Iowa Breaking News, Weather, Closings

Iowa home sales rising


Home sales in Iowa are on the rise.  But prices have dropped slightly across the state, according to the latest report from the Iowa Association of Realtors.

The report shows the total number of homes sold in September was up 20.9%, with 501 more sales than last year at this time.  IAR reports that 2,896 homes sold/closed in September 2011, while 2,395 homes sold/closed in September 2010.

According to the IAR, pending sales throughout the state last month were up 8.3% from the previous year, while new listings were down by 7.4%.

Meanwhile, the statewide average sale price decreased slightly, down 1.7% from last year.  The average sale price in Iowa was $144,026 in September 2011 and $146,525 in September 2010.

"For buyers, the dream of home ownership still exists and now is the time to recognize that dream with historic record low interest rates and home pricing comparable to the early 2000's," says Kurt Schade with IAR.  "For sellers, the pool of buyers is typically lower this time of year. However, due to the uncertain future of our economy, it may 'cost' sellers more to wait than to sell now."

Average days on the market in September increased by 9.4% from last year.  The average number of days on the market in September 2011 was 105, up 9 days from September 2010.


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