Iowa Home Sales Increase by 3.8% in June 2016

WASHINGTON – (RealEstateRama) — Home sale prices rose 2 percent in June 2016 and homes sold were up 3.8 percent when compared to June 2015.

According to the Housing Trends Report by Iowa Association of REALTORS®, the median sale price for June 2016 is $156,000 as compared to $153,000 in June of last year.

The number of homes sold in June rose 3.8 percent from last year. 4,998 homes were sold in June of this year, while 4,817 were sold during June 2015.

The year-to-date numbers were higher with 4.6 percent more homes sold than last year at this point.

The days on market (DOM) increased by 6 days from last year. The average days on market in June 2016 was 75 compared to 69 DOM in 2015.

“Home sales and prices across Iowa continue to be consistent with seasonal real estate trends. Regions across the country experience high highs and low lows, but Iowa continues to increase in value and popularity,” stated IAR President Ken Clark.

The information used to create the IAR June 2016 Housing Trends Report was current as of July 18th, at 8:45 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.

by Mark Gavin

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