Iowa Home Sales and Prices Picked up in July

CLIVE, IA (08/15/2011)(readMedia)-- Home sales and prices across Iowa picked up in July reports the Iowa Association of Realtors® (IAR).

According to monthly statistics released by the IAR today, the number of sales in July increased by 38.7 percent, with 870 more sales than last year at this time. IAR reports that 3,118 homes sold/closed in July 2011, while 2,248 homes sold/closed in July 2010.

Prices were up last month as well. The average sales price in July increased by $8,512, which is a 5.9 percent increase from last year. The average sales price in July 2011 was $152,349 and the average sales price in July 2010 was $143,837.

Average days on the market in July increased by 8 days. The average number of days on the market in July 2011 was 108 days, while the average in July 2010 was 100 days.

The increase in sales and prices is good news for the Iowa market, which has been holding fairly steady in the recent past while other areas of the country have struggled, says Kurt Schade, president of the IAR. "We have felt fortunate not to have experienced huge fluctuations as seen in other parts of the country. July was a solid month and we are optimistic about continued upward movement of both sales and prices in the future."

In order to see continual improvements in the market, IAR is supporting public policies that promote responsible, sustainable home ownership, explains Schade. "We want to ensure that anyone who aspires to own a home and can afford it, has the opportunity to do so. We encourage Iowans to track important issues currently being debated in Washington D.C. that will impact their ability to buy, sell and own property," explains Schade. Information on issues and a wide variety of homeowner resources can be found at houselogic.com or iowapropertyownersalliance.com, says Schade.

Thirty-four of the 44 local boards across Iowa reported increases in the number of sales and 27 boards reported increases in average sales price from July 2010. Twelve 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.

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 June 2011 Housing Trends report was current as of August 10 at 4:00 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.

HouseLogic is a free source of information from NAR that helps home owners maintain and enhance the value of their homes and engage in issues that affect their local communities. The Iowa Property Owners Alliance (IPOA) is a nonpartisan, nonprofit advocacy organization dedicated to serving thousands of property owners in Iowa. The IPOA was created by the IAR as a resource for Iowans to find reliable information to help them protect their property owner rights and fully enjoy the privileges of property ownership.