August 2024 Greater Des Moines Housing Market Update

by Keith Soldwisch

As summer 2024 comes to a close with schools starting up, the Des Moines metro housing market welcomed a drop in mortgage rates, an increase in inventory, and a rise in pending sales with open arms.

In this video, we will be sharing the finalized data from August 2024. In comparison to July, August home sales were down 8.16%, active listings had a jump with a 5.01% increase, median sale price in the Des Moines metro area fell 2.67%, and the days on market jumped 8.89% with an average of 49 days.

Source: Des Moines Area Association of Realtors (DMAAR)

Some of the trends we are seeing show us that more buyers purchased homes that had at least 3 bedrooms and were priced within the $300,000-$399,999 range.

Out of all the homes sold in August in the Des Moines metro area, the average home purchased had 3 bedrooms and 2 bathrooms and the average price was $336,038.

So what does this mean for you? If you are a seller in this market or are considering selling your home, interest rates are still predicted to decrease which means you could get more money for your home, especially if you have a home that buyers find most desirable. If you are looking to enter the market and purchase a home, we are about to enter the fall season and sellers are eager to get their homes sold before the holidays and new year arrive.

At Zealty Home Advisors, we are happy to help you with your next real estate transaction and can answer any questions that you may have. We are a diverse team of real estate experts with many years of combined experience under our belts. Give us a call today to help you in your next home venture (515) 329-4667.