From The Des Moines Area Association of REALTORS®
New home sales up 21% in May in Des Moines area
Des Moines, Iowa – June 11, 2009 – The summer home-buying season is off to an active start in the Des Moines area: Figures from May show that home sales were up 21% over April sales.
A report published today by the Des Moines Area Association of REALTORS® shows 694 contracts for home purchases were closed in May, continuing an uptrend from 572 closed contracts in April. The report also shows that the average sale price of a Des Moines–area home was $182,233, up 23% over the previous month. Additionally, the median home price is $150,000, a 7% increase over April.
“We are starting to see the impact of the First-Time Homebuyer Tax Credit incentive. As this trend continues, we’ll see sellers turn into buyers looking to move into a larger home,” says Kurt Schade, president of the Des Moines Area Association of REALTORS®. “There’s never been a better time to buy a home in the Des Moines area.”
An $8,000 homebuyer tax credit is currently available for a qualified purchase of a principal residence by a first-time homebuyer until Dec. 1, 2009. The new tax credit does not have to be re-paid if the buyer stays in the home at least three years. But if the home is sold before that, the entire amount of the credit is recaptured on the sale.
The REALTORS®’ report shows there were 5,755 active listings during the month. In May, homes were on the market for an average of 108 days, compared to 95 days in April.
Other statistics and information about the Des Moines housing market are available at the DMAAR Web sitewww.BuyNowDSM.com.
The Des Moines Association of REALTORS® is a professional association that represents the 1,500 Des Moines–area REALTORS® who are members. The mission of DMAAR is to be the voice of real estate in the Des Moines area. The term REALTOR® is a registered trademark, which identifies real estate professionals who adhere to a strict code of ethics as members of the NATIONAL ASSOCIATION of REALTORS®.
Week Ending June 12, 2009
Total Number of Homes For Sale in the Des Moines Area – 5160
New Listings Taken During the Last 7 Days – 290
Accepted Offers (Pendings) During the Last 7 Days – 171
Homes Closed (Solds) During the Last 7 Days – 90
Average Sale Price of Solds – $168,863
Average Days On Market of Solds – 99
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Data Source: Les Sulgrove, RE/MAX Real Estate Group
Des Moines Area Association of REALTORS® MLS.
Des Moines Metropolitan Area defined as: Adel, Altoona,
Ankeny, Bondurant, Carlisle, Clive, Des Moines, Dallas Center,
Desoto, Granger, Grimes, Indianola, Johnston, Norwalk,
Pleasant Hill, Polk City, Urbandale, Van Meter ,Waukee,
West Des Moines, Windsor Heights, Winterset