January 2012 Des Moines area home sales show unit increases

Sales got off to a good start in 2012 in the Des Moines metro comprised primarily of the cities of Altoona, Ankeny, Carlisle, Clive, Des Moines, Indianola, Johnston, Norwalk, Pleasant Hill, Urbandale, Waukee and West Des Moines. Unit sales were up appx. 10% year on year from 388 units in January 2011 to appx. 430 units in January 2012. Sales priced slipped slightly however from $149,875 last year to $145,844 this year for an appx. -2.7% drop. Days on market rose a tad from 102 days on market in 2011 to 104 in 2012.

The mild winter likely contributed to the increase in winter sold units as buyers were actually able to get out and look at homes. In 2011 heavy snowfall made travel difficult and complicated showings. Less snow on the ground this year also made it easier for buyers to see roofs and foundations which probably contributed to the uptick as well. Quoting Dale Gross Iowa Association of REALTORS President "This is a strong start to the new year. January is the 7th month in a row we've seen an increase in the number of homes sold.....but there are parts of the state that have had bigger and smaller changes in the various areas we track. We always encourage buyers and sellers to contact a local REALTOR for more community specific information."

The top five price categories for January 2012 were:

• 1.) $200,000~$249,999 = 46 units
• 2.) $29,000 and under   = 39 units
• 3.) $140,000~$159,999 = 38 units
• 4.) $120,000~$139,999 = 35 units
• 5.) $90,000 ~ $99,999   = 31 units
• 5.) $160,000~$179,999 = 31 units

In the $400,000 plus price range 7 units sold out of appx. 250 active listings.

In the condo/townhome sphere there were 48 units sold out of appx. 700 actives.

Top three methods of purchase were:

• 1.) Conventional 198
• 2.) Cash 114
• 3.) FHA 91

Higher priced home sales and condos continued to lag the overall market. Average listings available or Actives were appx. 4400 units or around 700 units under the previous year.

Data courtesy of The Des Moines Area Association of REALTORS, DMAAR, The Iowa Association of REALTORS, IAR, and REMarketpulse.com owned and operated by Les Sulgrove REALTOR, for the period 01/01/2012~01/31/2012. All rights reserved. Data provided is believed to be accurate but should not be relied upon without verification.