Sales Slip, Prices Remain Steady in February

posted by Heather Fegan | Mar 14, 2017

Home Prices remained steady while sales slipped 4.7 percent in February 2017 when compared to February last year, according to the Housing Trends Report from the Iowa Association of REALTORS®(IAR).

Median Price remain virtually unchanged dropping less than a percent last month when compared to February 2016.

1,976 Homes were sold last month, while 2,703 homes were sold last year in February. However, year-to-date sales are down only 1.7 percent from 2016.

Days on market improved to 91 days in February 2017 while it took on average 96 days in February of last year.

“Although sales were down a little in February, new listings were up almost 5 percent from February of last year.  While, our inventory continues to be lower than last year, February did see an increase from January. I think the warm weather in February spurred some people to list their home anticipating an early Spring. With interest rates still below 4.5 percent and warmer weather ahead, we look forward to a nice Spring boost in buying and selling,” stated IAR President Cindy Miller.

The information used to create the IAR February 2017 Housing Trends Report was current as of March 13, at 3:30 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.

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