CLIVE, IOWA (Feb. 13, 2014)-According to the Iowa Association of Realtors® (IAR) home sales dipped slightly in January, however home prices continued to rise.
In the January 2014 Housing Trends Report, IAR reports that the average sale price increased by another 6 percent and the median sale price was up 3.4 percent. The average sale price was $136,489 in January 2013 and $144,724 in January 2014. The median went from $116,000 in January 2013 to $120,000 in January 2014. Twenty-nine of the 44 local Realtor® boards in the state reported increases in the average sale price, and twenty-eight had increases in the median sale price.
Sales across the state saw a decrease of 9 percent from last year at this time with 176 fewer homes being sold in January of this year. The report shows that 1,954 homes were sold in January 2013, while 1,778 homes were sold in January 2014. Eighteen boards saw increases in sales in their respective areas last month.
The average days on the market (DOM) was 94 days, down 8 days or 7.8 percent from last January. Twenty-eight of the local boards saw a decrease in DOM.
Kathy Miller, IAR 2014 President says, “We continue to feel optimistic about the housing market given the decrease in DOM and increase in sales price. However, being the 9th coldest winter in the past 121 years has proven to be a hindrance on sales throughout the state. Like many Iowans, Realtors® are looking forward to warmer temperatures!”
The information used to create the IAR January 2014 Housing Trends Report was current as of February 12 at 8:07 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.
The term Realtor® is a registered trademark, which identifies real estate professionals who follow a strict code of ethics as members of the National Association of Realtors®. The Iowa Association of Realtors® is the state’s largest real estate professional organization representing more than 6,400 members and affiliates. The IAR releases a Housing Trends Report each month. Data is collected from local Realtor® boards through their multiple listing service (MLS), which tracks sales activities in the board area. The IAR compiles all of the local board data into the statewide report each month. Reports are available online to IAR members and affiliates with a login and password. Anyone is eligible to become an IAR affiliate. For membership information, visit www.iowarealtors.com.
