Iowa home sales up 19.4 per cent over last year - KWWL - Eastern Iowa Breaking News, Weather, Closings

Iowa home sales up 19.4 per cent over last year


The latest Iowa Association of Realtors housing report shows home sales surged in February compared to last year's February sales. February, 2012, also marks the 8th straight month of increased home sales in Iowa.

According to the IAR 2012 Housing Trends Report, 1,861 homes sold or closed in February. That compares to 1,558 in February of 2011. Statewide, twenty-nine of Iowa's forty-four local Realtor boards reported increases in February sales. The IAR report also says 2,283 sales were pending in February. That's a 19.8 per cent increase over February, 2011.

Dale Gross, President of the Iowa Association of Realtors, says, Sales continue to be strong. There was positive movement in much of the state and there's some real excitement out there in the market." 

Overall, sales prices were slightly lower. The median sale price for February, 2012, was $ 105,000. That's a 4.5 per cent decrease from the $ 110,000 median price in February, 2011. Twenty five of the forty four local realtor boards did report increases in sales prices.

It's taking, on average, more than three months for homes to sell. The IAR report says the average days on the market was 115. That's the same as in February, 2011.

Iowans still appear eager to sell, even though the state remains a buyer's market. The statewide inventory of homes ‘For Sale' in Iowa was 19, 228. That's down 9.3 per cent from last year's February inventory. Iowa homeowners created 4,271 new active listings in February, an increase of 8 per cent over last year.

The Iowa Association of Realtors is Iowa's largest real estate professional organization. The IAR represents nearly 6,500 member realtors across the state. The IAR releases its Housing Trends report every month, using collected from local Realtor boards across Iowa through the local Multiple Listing service (MLS.)





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