Iowa Home Sales and Prices Continue to Increase in August

CLIVE, IA (09/16/2011)(readMedia)-- The Iowa Association of Realtors® (IAR) reports that home sales and prices in Iowa continued to increase in August.

According to monthly statistics released by the IAR this week at its Annual Convention held in West Des Moines, the number of sales in August increased by 24.5 percent, with 602 more sales than last year at this time. IAR reports that 3,055 homes sold/closed in August 2011, while 2,453 homes sold/closed in August 2010.

Prices were also up slightly in August. The average sale price in August increased by $4,113, which represents a 2.9 percent increase from last year. The average sale price across Iowa in August 2011 was $146,627, while the average sale price in August 2010 was $142,514.

Average days on the market in August increased by 9 days or 9.5 percent. The average number of days on the market in August 2011 was 104 days, while the average in August 2010 was 95 days.

"It is great to see another month of strong activity with sales up and prices continuing to inch up as well," says Kurt Schade, president of the Iowa Association of Realtors®. "We continue to hope that the housing market will keep moving in the right direction, and the rest of the economy will follow close behind."

Schade says that the IAR is working closely with the National Association of Realtors® to defend home ownership by monitoring pressing political issues in Washington D.C., which may impact Iowans ability to buy, sell, and own property. "Home ownership makes a huge impact on our economy," explains Schade. "According to the National Association of Realtors®, for every two homes sold, one job is created. In addition, for each home purchased, $60,000 is pumped into the economy. Home ownership matters and we are reminding congress of this daily," says Schade. Iowans can find information on current issues and a wide variety of homeowner resources at houselogic.com or iowapropertyownersalliance.com.

Thirty-five of the 44 local boards across Iowa reported increases in the number of sales and 28 boards reported increases in average sale price from August 2010. Eighteen 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 September 12 at 10:00 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. 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®(NAR). The Iowa Association of Realtors® is the state's largest real estate professional organization representing more than 7,000 members and affiliates.