WASHINGTON, D.C. – (RealEstateRama) — The number of homes sold in November were up 14.9 percent when compared to November’s totals last year according to the official Housing Trends Report from the Iowa Association of REALTORS® (IAR).
The median sale price rose 5.7 percent last month over November 2015. The median sale price for November 2016 was $148,000 as compared to $140,000 in November of last year.
3,012 homes were sold last month, while 2,622 were sold in November 2015.
The year-to-date numbers continue to show a steady increase in the Iowa real estate market. Sold properties are up 4.1 percent for 2016 when compared to the same period last year.
The days on market (DOM) increased by 2 days from last year. The average days on market in November 2016 was 76 compared to 74 DOM in November 2015.
“Great weather in October and November helped buyers and sellers. We are happy to see the strong numbers in November and expect our year-end stats to show Iowa’s solid year in real estate,” stated IAR President Cindy Miller.
The information used to create the IAR November 2016 Housing Trends Report was current as of December 12, at 12:40 p.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 7,000 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.