There’s a slight increase in the number of Iowa homes on the market, but the limited inventory means sale prices remain high.
The median sales price for an existing home sold in Iowa last month was just under $230,000. That’s not quite as high as the record set in July, but overall, the home prices in Iowa were up more than 13% in August compared to the same month a year ago.
The Iowa Association of Realtors’ latest report shows about 3800 Iowa homes were sold last month. That’s a decline of more than 23% compared to August of 2021.
The president of the Iowa Association of Realtors says home prices should moderate soon, moving the market in a more buyer-friendly direction.
The association’s data indicates the sale prices for Iowa townhouses and condos were also higher in August, but the units tend to be on the market longer than homes.