The Des Moines metro housing market delivered a mixed message in July: more homes to choose from, but a slower sales pace. Steady pricing and plentiful options bring optimism that sales will flourish as home buyers and sellers begin to settle down after a busy summer.
"July’s metro housing market metrics illustrate just how important it is to understand the nuances of buying and selling today,” said Eric Webster, President of the Des Moines Area Association of REALTORS®. “While there are more options for buyers, sellers still have a great opportunity to attract strong offers. But they have to have the right pricing strategy and market expertise on their side. That's where a REALTOR® comes in: they can help navigate that balance to get the best results.”
Home inventory rose 20% year-over-year, providing an additional 701 homes, bringing the total to 4,213, compared to the 3,512 of a year ago. The figure also represents a 4% increase from June when 4,054 active listings were recorded.
Home sales fell 1.5% from the same time last year. With a total of 1,267 homes sold in July, the metric reflects 20 fewer homes sales than the 1,287 of July of 2024. Monthly, the difference was slightly more stark with sales dropping 11.1% from the 1,424 homes sold in June.
Days on market also rose from 45 to 50 days, an 11% increase when compared to July of 2024. When comparing month-over-month, days on market are 4 days less - a 4.7% decrease - than June.
The median sales price for homes within the Des Moines metro remained steady when compared to a year ago. The median sales price increased to $300,000, a 0.3% increase from the $299,000 median sales price of July 2024. A larger 1.6% decrease came from the month-over-month data, as the median sales price dropped from the $305,000 of June.
If you need help strategizing the sale of your home or are looking to enter the housing market and purchase a home, don’t hesitate to reach out to us at Zealty Home Advisors. You can call us at (515) 329-4667 or email us at zelda@zealtynow.com.
