Iowa home sales, prices on the rise - KWWL - Eastern Iowa Breaking News, Weather, Closings

Iowa home sales, prices on the rise


The Iowa Association of Realtors reports October home sales and prices were up again compared to the same month last year, and they claim it shows consumer confidence in the housing market.

Sales jumped 13.3 percent in October, according to the IAR.

Nearly 3,000 homes were sold or closed in October 2012, up from around 2,600 home sales at the same time last year.

Thirty of the 44 local Realtor boards across Iowa reported increases in number of sales.

Prices were up as well, as the median sale price climbed 5.4 percent from last year. The median sale price was $126,500 in October 2012 compared to $120,000 in October 2011.

"October was a great month for sales and prices, showing a nice rebound from the slight slowdown in September," says Don Marple, president of the IAR. "Sales, pending sales, and median sales price were all up in the third quarter. It appears as if the fourth quarter is off to a strong start as well. At this rate, we are on track to end the year ahead of 2011."

The number of days a house was on the market also dropped by six days. The average number of days on the market in October 2012 was 96, while the average in October 2011 was 102 days. 

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