Data from the Iowa Association of Realtors indicates the number of existing home sales in Iowa continues to decline and the overall prices for Iowa homes sold remain well above last year’s levels.
The median price for an Iowa home sold in September was $225,009. That’s down slightly from the record set in July. However, it is 13.5% higher than the media sales price of Iowa homes sold in September of last year.
The number of homes sold last month was down nearly 24% compared to last September. The president of the Iowa Association of Realtors says there’s typically a slow down in sales in September, plus the number of homes on the market remains lower than normal.
Iowa homes up for sale in September spent an average of 31 days on the market before being sold. The president of the Iowa Realtors Association says industry experts project homes will start spending longer on the market and there will be slower growth in home prices soon.