Closings of luxury homes priced over $700,000 on the Des Moines MLS came off life support in February to log 6 closed for the month, 7 pending and 64 active. Compared to closed sales of 1 in January closings were brisk. With 64 active at the end of the month there was still a 10.7 months supply which would indicate a buyers market and healthily above the trend of 8.6 months of inventory in 2017.
West Des Moines led the metro with the largest number of listings at 12 active, and 2 pending, followed by Urbandale with 9 active, 1 pending and 1 sold, which was close to Ankeny's levels of 8 active, 1 pending and 2 sold.
The highest priced home sold was 2866 NW 82nd Ave in Ankeny at $1,250,000. The highest pending was 3555 Oakmont Court in West Des Moines at the lasted listed price of $1,795,000. The $700-$750,000 category was the most active with 3 sold and 2 pending. Two homes in the southwest of Des Moines made the report 3800 SW 56th St sold at $935,000 and 2909 Cayuga Point which sold at $705,000.
The dollar value of invetory rose from $66,211,018 in Jaunary to $75,523,602 iN February reflecting a 14% gain.
It looks like 11 more new listings have come on in March so there will be even more choices for buyers above $700,0000 and bring inventory levels to 1 year of supply. If you need your home to stand out in this market or if you're planning to buy a luxury home this year I can help. Please call or text me at 515-988-3726 for your consultation today.
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Des Moines Area Luxury Home Sales Report February 2018 |
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Homes, Condos-Townhomes, Acreages Priced $700,000 and up |
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|
City |
# Active |
# Pending |
# Sold |
|
Altoona |
3 |
|
|
|
Ankeny |
8 |
1 |
2 |
|
Bondurant |
|
|
|
|
Booneville |
|
|
|
|
Carlisle |
|
|
|
|
Clive |
3 |
|
|
|
Cumming |
|
|
|
|
Dallas Center |
|
|
|
|
Des Moines E |
|
|
|
|
Des Moines NE |
1 |
|
|
|
Des Moines NW |
|
|
|
|
Des Moines SE |
1 |
|
|
|
Des Moines SW |
2 |
|
2 |
|
Des Moines West |
|
2 |
1 |
|
Downtown |
|
|
|
|
Grimes |
|
|
|
|
Indianola |
4 |
|
|
|
Johnston |
6 |
|
|
|
Norwalk |
9 |
|
|
|
Runnells |
|
|
|
|
Pleasant Hill |
|
|
|
|
Polk City |
|
|
|
|
Urbandale |
9 |
1 |
1 |
|
Van Meter |
1 |
|
|
|
Waukee |
5 |
1 |
|
|
West Des Moines |
12 |
2 |
|
|
Windsor Heights |
|
|
|
|
TOTAL |
64 |
7 |
6 |
|
Total Value |
Average Price |
Average DOM |
Highest Priced |
Months Supply |
|
$75,523,602 |
$980,826 |
210 |
$3,500,000 |
10.67 |