Sales, Prices Up; Inventory Down In Iowa Housing Market - KWQC-TV6 News and Weather For The Quad Cities -

Sales, Prices Up; Inventory Down In Iowa Housing Market

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By Marcia Lense - email

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The Iowa housing market is showing signs of strength according to a new release from the Iowa Association of Realtors. In its August 2012 Housing Trends Report, home sales were up by 15.5 percent from last year, and prices were up by 3.8 percent. Pending sales were also up by 2.4 percent.

The median sale price was up by 3.8 percent while the average sale price was up by 3.4 percent. The median sale price was $129,700 in August 2012 and $125,000 last year at the same time. Statewide, inventory was down 14.5 percent from last year and appears to be heating up the market.

Days on the market dropped under 100. The average number of days on the market in August was 98 days, down by 4 days or 3.9 percent from last August.

Nationally, the first half of 2012 was the strongest first half of sales in the last five years. In Iowa, year-to-date sales are the highest since 2007.