WASHINGTON, DC – (RealEstateRama) — The Iowa Association of REALTORS® (IAR) reported that January home prices are up, homes are selling faster and number of sales dipped slightly when compared to January of last year.
According to the IAR’s Housing Trends Report, the median sale price increased by 12 percent. The median sale price rose from $121,000 in January of 2015 to $135,500 in January of 2016.
Sales across the state saw a slight decrease of 1.6 percent from last year at this time. There were 2037 homes sold in January 2015, while 2,005 were sold the first month of this year. “Five of largest real estate boards and associations representing our larger metro areas in Iowa reported an increase in the number of sales when compared to January of last year.” stated Ken Clark, President of the Iowa Association of REALTORS®.
Home sales in the winter typically slow down and this January was no exception. There was a decrease in new active listings and pending properties. There was a 15.6 percent drop in active listings in January of 2016 when compared to January of 2015.
Homes are selling slightly faster when compared to last year. The days on market was 91 in January of 2015 and dropped to 87 days in January of 2016.
The information used to create the IAR January 2016 Housing Trends Report was current as of February 11, 2016 at 10:00 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 6,800 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.
For additional information please contact Mark Gavin, Director of Communications & Events at mark (at) iowarealtors (dot) com