The number of homes sold in Iowa last month increased 4.8 percent compared to September of last year. Jon Yocum is president of the Iowa Association of Realtors (IAR), which released a report Wednesday on home sales and prices in the state.
“It was kind of a slower month in August, but it definitely picked up in September,” Yocum said. A total of 3,570 homes were sold in the state last month, according to the IAR. That’s up from 3,406 homes sold in September 2014.
The last three months have been busy ones for both home buyers and sellers in the state. “It’s been 8 years since we’ve had this many sales in the third quarter…so, it’s pretty awesome,” Yocum said. Homes sales in Iowa over the first 9 months of the year outpaced the same period last year by 7.9 percent.
Yocum gives credit to a couple of factors. “I think interest rates being what they are, still very affordable…that’s keeping buyers out there on the market. And the unemployment numbers in Iowa are lower than what they are across the country,” Yocum said. The median sale price of a home sold in Iowa rose 5.9 percent from September of last year. The median price was $131,750 in September 2014 compared to $139,500 this year.
Homes are also selling sooner — with days on market at 68 last month. In September of 2014, the properties were on the market for an average 84 days.
