Iowa Home Sales and Prices Up Again in October

CLIVE, IA (11/17/2011)(readMedia)-- The Iowa Association of Realtors® (IAR) reports that home sales and prices across the state were up again in October.

IAR's 2011 October Housing Trends Report shows the number of home sales in October increased by 12.4 percent, with 287 more sales last month than last October. IAR reports 2,606 homes sold/closed in October 2011, while 2,319 homes sold/closed in October 2010.

Prices were also up slightly last month. The average sale price in October was up $2,845, representing an increase of 2.1 percent from last year. The average sale price across Iowa in October 2011 was $138,739, while the average sale price in October 2010 was $135,894.

According to the IAR, the number of active residential listings for sale at the end of October was 22,835, which includes 4,134 new active residential listings. The average days on the market in October was 109 days, up 4 days or 3.8 percent from October 2010 when the average was 105 days.

"Although we have had some ups and downs in the past few years, all in all, the housing market in Iowa has remained relatively steady," says Dale Gross, president of the Iowa Association of Realtors®. "Many have speculated that perhaps the Midwest states will lead the nation in the upswing of the housing market. We would be very happy to see Iowa continue on this gradual upward trend."

Gross says that IAR leaders met with Realtor® leaders from around the nation last week at the National Association of Realtors® annual conference in Anaheim, California. "We know that homeownership is extremely important to individuals, families, communities and the economy in Iowa as well as the nation. As defenders of home ownership, Realtors® are working to ensure that housing remains a priority in public policy discussions here in Iowa and Washington D.C," explains Gross.

Twenty-two of the 44 local boards across Iowa reported increases in the number of sales and 25 boards reported increases in average sale price from October 2010. Nineteen boards showed a decrease in the average number of days on the market.

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 October 2011 Housing Trends Report was current as of November 16 at 8:30 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.

All real estate is local and each market is unique. 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 defenders of home ownership. To find a local Realtor® visit SeeIowaHomes.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.