| Feb 22, 2017
In January, home prices rose 7.4 percent, while sales dipped 3.7 percent according to the January 2017 Housing Trends Report from the Iowa Association of REALTORS®.
Median sale price is up 7.4 percent when compared to January 2016. The median sale price for last month was $145,000, while the median price was $135,000 in January of last year.
Home sales last month totaled 2,028 properties. In January 2016, 2,107 homes were sold in Iowa.
Days on market remained virtually unchanged with 84 days last month compared to 85 days in January 2016.
“Inventory levels continue to be lower than last year’s number - down over 20 percent. However, new listings in January 2017 were 3.0 percent higher than in January 2016 and we hope that bodes well for the end of the winter and early spring season. The real estate cycle is seasonal and January is typically a little lower than other months. We hope the nice February weather will lead to good news for buyers and sellers,” stated Cindy Miller.
The information used to create the IAR January 2017 Housing Trends Report was current as of February 15, 2017 at 4:00 p.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 almost 7,000 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. 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.
For more information, please contact Iowa Association of REALTORS® staff Mark Gavin at 515-309-9345 or Heather Fegan at 515-309-9347 or firstname.lastname@example.org.