Iowa Home Prices Rise 5.6% in April

WASHINGTON – (RealEstateRama) — According to the Housing Trends Report by Iowa Association of REALTORS®, home sale prices rose 5.6 percent in April 2016 and homes sold were up 5.3 percent when compared to April of last year.

The median sale price for April 2016 was $142,500 as compared to $135,000 in April of last year.
Price Comparison April 16
The number of homes sold in April rose 5.3 percent from last year. 3,458 homes were sold in April of this year, while 3,284 sold during April 2015.

The days on market (DOM) decreased by 3 days from last year. The average days on market in April 2016 was 88 compared to 91 DOM in 2015.

“Across the state, the normal busy spring real estate market is going strong. The majority of our local boards and associations are reporting higher sold properties than 1 year ago. We expect this to continue with the current shortage of homes for sales in most metro areas,” stated IAR President Ken Clark.

The information used to create the IAR April 2016 Housing Trends Report was current as of May 16, at 8:00 a.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 over 6,700 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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