Home sales and prices rose in Iowa last year compared to 2012, according to a report released Tuesday by the Iowa Association of Realtors. IAR president Kathy Miller says the number of homes sold rose nearly 8-percent. Sales increased from 34,842 in 2012 to 37,618 in 2013. It marks the third consecutive year for increased home sales.
The average price for a home sold in Iowa climbed by over $8,000. “Sale price increased by 5.5 percent, going from $147,563 in 2012 to $155,606 in 2013,” Miller said.
Sellers are also having better luck selling their homes in a timely manner, as days on the market (DOM) have dropped from a peak of 107 DOM in 2011 to 88 DOM in 2013. “We’re back to where we were before the housing crisis in 2008, which is exciting for everybody,” Miller said. In 2008, just 32,595 homes were sold in Iowa.