Inventory Grows as Iowa Housing Market Shifts into Seasonal Summer Rhythm

WEST DES MOINES, Iowa –The Iowa housing market entered a seasonal shift in June, demonstrating a balanced pace following a busy spring, according to the latest statewide data from Iowa REALTORS®.

“June brought a bit of a seasonal slowdown to Iowa’s housing market, which is expected as a result of the decline in May’s pending activity,” said Travis Bushaw, 2025 President of Iowa REALTORS®. “Sales decreased slightly, but price growth is steady and homes are still moving fairly quickly. Buyers are being more selective, but inventory is still limited in many parts of the state, and days on market for properties in almost every price range across the state are still historically low.”

New listings continued to increase year-over-year, jumping 3.1% to 4,325 new listings in June compared to the 3,970 of last year. Monthly, new listings faltered slightly, dropping 7.6% from the 4,682 new listings of May. 

However, active inventory remained steady, increasing 19.6% year-over-year, with 8,606 homes on the market in June compared to the 7,195 listed a year ago. Active inventory was also on the rise monthly, realizing a 6.9% increase from the 8,050 active listings of May. 

June saw 3,617 closed sales, an increase of 8.3% compared to the 3,337 closed sales of one year ago. The increase was more subtle month-over-month, with June gaining 1.9% more closed sales than the 3,549 that occurred last month. 

Median sales price continued an upward trend in June coming to $260,000, a 4% increase from $250,000 median price of June 2024. The increase was slightly less monthly, increasing 3.2% from the $252,000 median price of May. 

Days on the market increased 18.2% both year-over-year and month over month, sitting at a median 13 days on the market in June. 

“We’re seeing what we’d expect from a typical early summer market,” said Les Sulgrove, Iowa REALTORS® housing analyst. “A pause in the fast pace, slightly more breathing room for buyers, but continued price resilience due to ongoing inventory constraints.”

Condo & Townhomes
The condo and townhome market took a page from the single-family market in June, taking a reprieve from the typical summer rush. 

New listings increased 4.5% in June with 605 listings, compared to the 580 of one year ago. Monthly, new listings slowed, decreasing 7.5% from the 654 listed in May. 

Active inventory continued to grow - albeit at a slower pace - increasing 18.8% with 1,836 homes on the market compared to the 1,545 of a year ago. Inventory remained steady monthly, increasing 1.2% from the 1,815 homes listed last month. 

Closed sales saw decreases across the board for condos and townhomes. June recorded 465 home sales, a 2.5% decrease from the 477 sold a year ago. Monthly, sales dropped 11.9% from the 530 sold in May. 

The median days on market increased 33.3% to 24 days in June from the 18 median days of a year ago. The median price was relatively unchanged, jumping 1.2% to $245,000 from $241,990 of June 2024. 

A Closer Look
Regional trends across the state continue to show variety in pace and pricing depending on area size and rural vs. urban characteristics.

• Northwest Iowa REALTORS® area saw 281 homes listed in June, helping to bolster options ahead of peak summer activity.
  
  
• In the Quad Cities region, the market is still fast-paced with many homes going pending within the first week.
  
  
• The Greater Mason City Board of REALTORS® service area reported price stability even as the number of lake-area listings is expected to rise later this summer.
  
  
• Southwest Iowa and West Central Iowa continue to experience longer days on market, averaging 22 to 25 days, which is typical for more rural markets. However, both regions saw increased inventory compared to a year ago, pointing to potential late-summer gains.