2014 Des Moines Real Estate Sales
It’s A Wrap!
The final figures for the Des Moines real estate market will be available by mid-January 2015, but there is enough information to share now to give a good picture of where 2014 home sales in Des Moines will end up.
We are ending the year with fewer than 3,500 homes on the market. This number should be upwards of 5,000 based on previous years history. I began collecting and analyzing home sale data back in 2007 and Des Moines has not seen this low number of homes for sale for well over 10 years.
Home values have appreciated approximately 2½% over last year and the average sale price was $182,000. The driving factors to these increases are a combination of low and very affordable mortgage interest rates and lack of homes for sale.
Lastly, the number of homes sold surpassed 2013 sales of 10,750 but only marginally. Many REALTORS® believe that if we had more homes for sale last spring that we could have sold even more homes in 2014.
Some numbers that will amaze you!
- Total Sales Volume just over 2 Billion Dollars and nearly 11,000 sales
- 80% of Sales were Single Family Residential – 16% Condo/Townhome and 4% Acreages
- One of every Four homes for sale in 2014 was New Construction
- Top Three Areas making up 1/3 of all sales were in Ankeny (1), West Des Moines (2) and Des Moines Northwest (3)
- Top Three Months representing 1/3 of all sales were June (1), July (2) and May (3)
- Average Home Sold in 2014 was 1,500 sq ft, had 3 bedrooms, 2 baths and was built in 1977
- That translates into 33,500 bedrooms and 25,700 baths!
Predictions for 2015
- The number of homes for sale will increase in 2015. I believe many sellers have spent the last couple of years making home improvements
- As a result, I also predict an increase in home pricing as we head towards a spring market.
- I believe the cost of a typical 30-year fixed rate mortgage will increase by a modest ½% to 4½% in 2015.
- Unemployment in Central Iowa will remain low around 4 ½% and Central Iowa will continue to be named as a top ranked community for business, industry and lifestyle.
Click The Graphic Images Below To Download Full PDF
December 2014 Balance of the Market Report
December 2014 Inventory Breakdown By Type
December 2014 Homes For Sale
December 2014 Pending Transaction Count
December 2014 Home Sales YTD
December 2014 New Construction Inventory
December 2014 Active, Pending, Sale Price Average
December 2014 Active Listings Vs Previous 5 Years
December 2014 YTD Price Point Avg Pricing
December AVM Comparison Chart
Des Moines Historical Average Listing Count
SimplyDesMoines.com is your local resource for real estate market conditions and statistics in the Des Moines and central Iowa area.
Les Sulgrove is a licensed REALTOR® with Keller Williams Greater Des Moines and has been licensed to sell real estate in Iowa since 1990. If you are looking to buy or sell your home, contact Les today!