Iowa Housing Market Remains Steady as Seasonal Trends Emerge

Iowa’s housing market ended 2025 with encouraging fundamentals, as improved inventory availability and steady price growth helped set the stage for a balanced market heading into early 2026.

“November and December reflected very typical seasonal movement, but the bigger picture remains encouraging,” said Travis Bushaw, 2025 Iowa REALTORS® president. “Inventory levels are holding at pre-2020 ranges, prices continue to grow at a sustainable pace, and year-over-year gains in closed sales signal that the market is stabilizing. That combination positions Iowa for a stronger start to 2026 than what we experienced at the beginning of 2025.”

New listings once again outpaced previous years, increasing 4.6% to 2,064 new listings in December compared to the 1,973 of the previous year. Month-over-month, the traditional winter market began to rear its head with new listings dropping 31.9% compared to the 3,032 listings of November. 

Active inventory increased 12.7% in December with 8,490 single-family homes on the market compared to the 7,533 properties listed one year ago. As with new listings, active inventory began to show signs of the typically slower winter market, dropping 11.2% from the 9,560 single-family homes listed in November. 

Closed sales experienced a balance year-over-year and month over month. The 2,842 sales recorded in December represent an 8.1% increase from the 2,629 homes sold one year ago, and the 2,630 homes sold in November. 

Perhaps the most telling sign of the winter market was found in the pending sales metric, which saw drops on both yearly and monthly measurements. The 1,890 pending transactions of December represented a 1.7% decrease from the 1,861 pending sales of December 2024 and a 28.1% decrease from November’s 2,546 pending single-family sales. 

Median sales price increased 4.3% to $240,000 in December from the $230,000 of a year ago. The single-family median sales price dipped 0.9% monthly from November’s $242,200. 

Days on market increased 14.7% to 39 days compared to the 34 days recorded a year ago. Monthly, the increase was wider, 44.4% compared to November’s 27 median days on market. 

Condo & Townhomes
The condo and townhome market continued a more seasonably responsive market in December. 

New listings decreased 19.3% to 263 new properties entering the market in December compared to the 326 listed a year ago. Monthly, the drop was more dramatic, falling 35.5% from the 408 homes listed in November. 

Despite fewer listings in December, total active inventory saw a small boost - increasing 1% - to 1,644 condo and townhome properties on the market. Active inventory decreased 12.6% when compared to the 1,882 active listings of one month ago. 

Closed sales dropped 5.2% to 309 transactions in December compared to the 326 closed sales of a year ago. Monthly, closed sales saw a 10% increase from November’s 281 transactions. 

Pending sales faltered 6.1% in December with 214 pending sales compared to the 228 of a year ago. Month-over-month, pending sales declined 27% from the 293 pending sales of the previous month.  

Median days on market increased to 54 days in December, a 30.5% increase from the 41 days on market of the prior year. Days on market increased 44.6% from the 37 days last month. Median sales price decreased 5.6% to $222,990 year-over-year, and 5.6% monthly from the $230,000 median sales price of November. 

“Seasonal shifts in pending sales and days on market are expected this time of year, especially in the condo and townhome segment,” said Les Sulgrove, Iowa REALTORS® statewide housing analyst. “What’s important is that long-term trends remain steady, with inventory availability improving and pricing adjustments creating a healthier balance between buyers and sellers as we head into the new year.”