Houses are still selling at a record pace in Iowa, while the number of homes on the market is significantly lower than in 2020.
According to the Iowa Association of Realtors, Iowa homes sold in an average of 30 days in July — an all-time record. It’s slightly faster than the average time homes were on the market in June, which was the previous record. More than eight percent fewer homes were sold in Iowa last month compared to July of 2020 — but the median sales price was about 11% higher than a year ago.
The association reports the number of homes for sale is low in all price ranges. About 9,400 homes were on the market in July — that’s nearly 24% fewer than in July of last year. The Iowa Association of Realtors says the median price of a home sold last month was $205,000 — compared to $185,000 in July of last year.
Nearly 27,000 homes were sold in Iowa in the first seven months of the year. That’s 7.5% more than the same period a year ago.