February 2018 Des Moines area home sales

By
Real Estate Agent with RE/MAX Concepts

Des Moines area February 2018 home sales showed more cooling of the market even as temps warmed. Average and median sales prices rose across the board however as fewer but more expensive homes closed during the month. Overall unit sales fell -2.7% from 2017 from 750 sold to 730. Rising rates almost certainly played a part. Rates have risen every week this year, up eight weeks running until the end of February. New construction sales continued to do well comprising 40% of all units sold in Altoona and Waukee, 33% in Grimes and 24% in Ankeny.

Sales rose the most in the following three areas:

Altoona: 61.8%

Ankeny: 20.7%

Urbandale: 1.4%

All other areas saw declines lead by:

Grimes: -42.9%

Waukee: -38.5%

Clive: -31.2%

Areas seeing the largest price gains were:

Des Moines: 25.1%

Ankeny: 23.1%

Indianola: 16.7%

The smallest price gains or drops were in:

Clive: -12.5%

Urbandale: -5.3%

West Des Moines: 1.2%

Inventory levels remained flat with total listings beginning the month at 3114 and ending at 3112, trending below normal unit levels overall. Days on market increased slightly to 109 from 108 the year prior.  Sales will almost certainly continued to be soft with rates rising and the stock market retreating from record highs amid increased volatility and inflation fears.

 

City
2/2018
Total Sold
2/2017
Total Sold
Total Sold
% Change
2018
YTD Sold
2017
YTD Sold
YTD Sold
% Change
30
19
+57.9%
55
34
+61.8%
103
87
+18.4%
210
174
+20.7%
14
16
-12.5%
22
32
-31.2%
193
224
-13.8%
395
438
-9.8%
12
26
-53.8%
28
49
-42.9%
19
16
+18.8%
33
33
0%
24
30
-20.0%
39
46
-15.2%
36
38
-5.3%
74
73
+1.4%
23
33
-30.3%
48
78
-38.5%
72
50
+44.0%
121
131
-7.6%
TOTAL - DMAAR MLS (all cities)
730
750
-2.7%
1,484
1,518
-2.2%

 

City
2/2018
Avg Sale Price
2/2017
Avg Sale Price
Avg Sale Price
% Change
2/2018
Median Sale Price
2/2017
Median Sale Price
Median Sale Price
% Change
253,718
228,890
+10.8%
253,250
213,000
+18.9%
290,351
236,936
+22.5%
225,000
214,000
+5.1%
366,343
311,998
+17.4%
332,750
326,500
+1.9%
154,694
123,691
+25.1%
133,000
120,000
+10.8%
237,970
272,755
-12.8%
282,450
222,500
+26.9%
219,279
187,972
+16.7%
188,500
183,000
+3.0%
276,352
259,520
+6.5%
289,000
226,500
+27.6%
327,145
305,374
+7.1%
256,500
267,250
-4.0%
302,379
289,690
+4.4%
309,100
289,900
+6.6%
227,529
224,908
+1.2%
211,000
199,950
+5.5%
TOTAL - DMAAR MLS (all cities)
221,349
195,523
+13.2%
185,000
170,000
+8.8%

 Data provided as a courtesy of the Iowa Association of Realtors and the Des Moines Area Association of Realtors. All rights reserved.

 

 

Comments (3)

Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

If I ever move to Des Moines, I’ll probably give you a call first if I need a place. :)

Mar 07, 2018 11:45 PM
Matt Grohe
RE/MAX Concepts - Des Moines, IA
Serving the metro since 2003

Thanks Laura! I'd love to help.

Mar 08, 2018 12:03 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

thanks for your market update- it is fun to see what is going on in different parts of the country 

Mar 09, 2018 05:29 AM