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.

Des Moines Area Luxury Home Sales Report February 2018

Homes, Condos-Townhomes, Acreages Priced $700,000 and up

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