Sales up 8.5, Prices Continue to Climb
Sales up 8.5%, Prices Continue to Climb in March
posted by Mark Gavin | Apr 20, 2017
Spring has sprung and so have home sales! Prices also continued to rise last month when compared to March of last year, according to the Housing Trends Report from the Iowa Association of REALTORS® (IAR).
Home sales increased 8.5 percent in March 2017 when compared to March 2016. 3,250 properties sold last month while 2,995 were sold in March 2016.
Median price climbed 5.8 percent last month when compared to March 2016. Median price is $145,000 compared to last March’s median price of $137,000.
Days on market improved to 91 days in March 2017 while it took on average 94 days in March of last year.
“March saw a nice bump in activity with sales bouncing back. Spring is usually a popular time to buy or sell a home. In many of our larger markets homes are moving quickly. We recommend buyers make sure they have worked with their Realtor® and lender to be prepared to make a quick offer,” stated IAR President Cindy Miller.
The first quarter of 2017 also showed improvement over the first quarter of last year. Home sales were 4.0 percent higher and median price was up 3.6 percent when compared to first quarter of 2106. 7,462 properties have been sold so far in 2017.
The information used to create the IAR March 2017 Housing Trends Report was current as of April 19, 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.|
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®.
The Iowa Association of Realtors® is the state’s largest real estate professional organization representing almost 7,000 members and affiliates. 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. IAR compiles all of the local board data into the statewide report each month. 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.