Iowa Home Sales Up in September

CLIVE, IA (10/17/2011)(readMedia)-- Home sales were up while prices decreased slightly throughout Iowa in September, according to the Iowa Association of Realtors® (IAR).

The IAR's 2011 September Housing Trends Report shows the total number of homes sold in September was up 20.9 percent, with 501 more sales than last year at this time. IAR reports that 2,896 homes sold/closed in September 2011, while 2,395 homes sold/closed in September 2010.

According to the IAR, pending sales throughout the state last month were up 8.3 percent from the previous year, while new listings were down by 7.4 percent. IAR also reports there were 24,464 active residential listings across Iowa at the end of September.

The statewide average sale price decreased very slightly, down 1.7 percent from last year. The average sale price in Iowa was $144,026 in September 2011 and $146,525 in September 2010.

"For buyers, the dream of home ownership still exists and now is the time to recognize that dream with historic record low interest rates and home pricing comparable to the early 2000's," says Kurt Schade. "For sellers, the pool of buyers is typically lower this time of year. However, due to the uncertain future of our economy, it may 'cost' sellers more to wait than to sell now."

Average days on the market in September increased by 9.4 percent from last year. The average number of days on the market in September 2011 was 105, up 9 days from September 2010.

Thirty-six of the 44 local boards and reporting sites across Iowa reported increases in the number of sales and 23 boards reported increases in average sale price from September 2010. Fourteen boards showed a decrease in the average number of days on the market.

All real estate is local. IAR encourages interested buyers and sellers to contact a local Realtor® for more information on the market in their community. Realtors® are the number one voice for real estate and defender of home ownership. To find a local Realtor® visit SeeIowaHomes.com.

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. The IAR compiles all of the local board data into the statewide report each month. The information used to create the August 2011 Housing Trends report was current as of October 10 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. 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.

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 nearly 7,000 members and affiliates.