Iowa Housing Market Enters Fall with Rising Inventory

WEST DES MOINES, Iowa –  

Iowa’s housing market entered the fall season with expanding inventory, giving buyers more options even as sales activity followed typical seasonal patterns, according to September housing data from Iowa REALTORS®.

“September’s numbers show a housing market adjusting to the fall season while continuing to offer opportunities for buyers and sellers,” said Erik Melloy, Iowa REALTORS® president. “Inventory is up 15% from a year ago, and home values continue to trend higher statewide. While pending sales have slowed, buyers have more homes to consider as they navigate their next move.”

New listings began an early fall cooldown in September: the 4,113 new listings represented a 1.9% decrease from the 4,232 new listings of one year ago. Monthly, the dip was wider - 2.8% - from the 4,193 new listings of August. 

Despite the seasonal shifts, active listings continued to provide plenty of opportunities for potential homebuyers. The 10,412 active listings come in 15% higher than 9,053 active listings of one year ago, and 6.8% higher than the 9,751 active listings of one month ago. 

Closed sales decreased marginally in September, with 3,086 transactions, a 0.4% shift from September 2025’s 3,100 transactions. Conversely, monthly metrics highlighted the broader transition into a fall market, showing an 8.1% decrease from August’s 3,362 closed sales. 

Perhaps the biggest signal of the seasonal market shift comes from the downturn in pending sales. September saw 2,527 pending sales, a 15.4% decrease from the 2,986 pending sales of September 2025, and a 18.7% decrease from August’s 3,110 pending sales. 

Median sales price came to $259,000 in September, a 7.6% increase from last year’s $240,700 median sales price, and a 2.6% decrease from the $266,000 median sales price of last month. 

Days on market came to 19, an increase of just one day over last year, and remaining unchanged month-over-month. 

“More homes on the market is an encouraging trend for Iowa buyers heading into the final months of the year,” said Les Sulgrove, Iowa REALTORS® statewide housing analyst. “The increase in active inventory gives buyers a broader selection, while rising median prices show that home values remain strong. Seasonal shifts are reflected in the slower pace of pending sales, but the market continues to provide opportunities across the state.”

Condo & Townhomes 

The condo and townhouse market appeared to hang on to a late boost from the summer housing market. 

The condo and townhouse market saw 606 new listings in September, a 4.7% increase from the 579 new listings of one year ago, and a 5.4% increase from the 575 new listings of August. 

Active inventory remained steady in early fall with increases in both yearly and monthly measurements. The 1,967 active listings of September represent a 6.6% increase from the 1,846 active listings of one year ago, while monthly measurements saw a 2.8% increase from the 1,914 active listings of last month. 

Closed sales came to 451 in September, a 3% increase from last year’s 438 closed sales in the same month. Conversely, the metric began to cool month-over-month realizing a 5.5% dip from the 477 closed sales of August. 

Pending sales preview a typical fall market: 392 pending transactions in September represent a 1% decrease from the 396 pending sales of one year ago, and 12.5% decrease from the 448 pending sales of one month ago. 

Median days on market came to 28, a five day dip from the 33 days on market of one year ago, and an increase from the 25 days recorded last month. Median sales price came to $240,000, a 2% increase from last year, and a 2% decrease from August.