Des Moines September's home sales rose to from the year earlier due in large part to the home buyer tax credit set to expire on November 30th 2009.

I noticed a lot of activity related to first time buyers both on the buying and listing sides. My feeling is that hesitant buyers who had been waiting all year finally got spooked that the tax credit would not be extended or changed substantially and so went on a buying spree.

Our association president was quoted in an October 13th Des Moines Register article as saying" "I believe there are a lot of first-time home buyers out there trying to get their deal done before the deadline for the $8,000 tax credit," said Kurt Schade, president of the Des Moines Area Association of Realtors.

Some highlights from September:

• 475 sales, or 52% of the total unit sales were for homes priced $100,000 to $200,000
• Less than 40 homes were sold last for more than $300,000.
• Unit sales increased to 913, from 772 the year prior.
• Average sales prices fell to $151,589 from $167,366 the year prior.
• Days on market increased to 100 from 96 the year prior.

 Data courtesy of the Des Moines Area Association of Realtors