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%
|
|
|
291,617
|
236,936
|
+23.1%
|
226,000
|
214,000
|
+5.6%
|
|
|
366,343
|
311,998
|
+17.4%
|
332,750
|
326,500
|
+1.9%
|
|
|
154,773
|
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%
|
|
|
279,616
|
259,520
|
+7.7%
|
289,500
|
226,500
|
+27.8%
|
|
|
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) |
221,760
|
195,523
|
+13.4%
|
186,500
|
170,000
|
+9.7%
|