July 2023 Des Moines Housing Market Update

The most up-to-date numbers are in for Des Moines as of May 2023. The below information has been sourced from DMAAR (Des Moines Area Association of REALTORS).

Here’s the data:

Active listings: 2,651

Contracts closed: 1,270

Days on market: 51

Median sales price: $289,000

The key trends we are seeing are that of the 1,270 homes that sold, 20% of them had 3 bedrooms and sold in the $300,000-$349,000 range. Also, 68% of the 1,270 homes sold within 30 days or less.

In addition to the May data, housing borrowers are obtaining a high credit score with the median score at 765. Nationally, mortgage interest rates are steady between 6-7%. This tells us that there are plenty of buyers ready to purchase homes and will likely purchase a home within 30 days of a home going on the market.

If you’re looking to sell your home, you can give me a call at (515) 329-4667 or if you’re in the market to purchase a home, we’d be glad to show you some available homes that are on the market.