Last year was a record breaker for Iowa’s housing market. Iowa Association of Realtors President Mark Kamps says home sales increased by 3.2% from 2016.
“Going from 42,671 homes sold in 2016 to 44,023 sold in 2017,” Kamps said. It’s believed to be the first time home sales in Iowa have climbed above 44-thousand for an entire year. The average price of a home sold in Iowa last year also hit a high mark.
“The median sale price was up 4.2-percent from 2016 to 2017,” Kamps said. The median sale price was $153,000 in 2017, compared to $146,900 in 2016. Kamps, who is a Realtor in Iowa City, also notes homes placed for sale in the state are spending fewer days on the market.
“When sellers list their home, they’re always eager to get a buyer as quickly as possible and in 2017, days on the market dropped from 80 days (in 2016) to 76,” Kamps said. “While four days isn’t a significant amount, it’s still a good amount as far as the seller would be concerned.”