Houses are still selling at a record pace in Iowa, while the number of homes on the market is significantly lower than in 2020. Radio Iowa’s Matt Kelley reports.
According to the Iowa Association of Realtors, Iowa homes sold in an average of 30 days in July — an all-time record. It’s slightly faster than the average time homes were on the market in June, which was the previous record. More than eight percent fewer homes were sold in Iowa last month compared to July of 2020 — but the median sales price was about 11 percent higher than a year ago. The association reports the number of homes for sale is low in all price ranges. About 94-hundred homes were on the market in July — that’s nearly 24 percent fewer than in July of last year.
According to the Iowa Association of Realtors, the median price of a home sold last month was 205-thousand dollars — compared to 185-thousand in July of last year. Nearly 27-thousand homes were sold in Iowa in the first seven months of the year. That’s seven-and-a-half percent more than the same period a year ago.