Home sales were on the rise in April as the median sale price increases and days on market decreases according to the housing trends reported by the Des Moines Area Association of REALTORS® (DMAAR).
1,212 homes sold in April 2018 which is up from March at 1,123 homes sold. The median sale price increased 2.5 percent over March 2018 and up 9 percent over April 2017.
Days on market fell from 71 days in March 2018 to 60 in April 2018. Things are moving quickly!
The number of properties currently for sale has decreased slightly with 3,127 active listings in the metro area. March 2018 showed 3,141 active listings.
65 percent of homes sold in April 2018 were financed conventionally. 12.6 percent of homes sold in April were cash purchases and 10 percent were financed with an FHA loan.
Signs of a healthy real estate market include the number of contracts written as well as closed. April was a great month in real estate with both written and closed contracts up from March 2018 and April of 2017. “With the spring selling season in full swing, inventory is still low and the need is high. Pricing is very important and using a local expert for guidance in this fast-paced environment could be the key to a smooth home transaction,” said Brennan Buckley, President of the Des Moines Area Association of REALTORS®. There is a lot of information available today. Make sure you have the assistance of a Realtor® with knowledge of the local market to get you the information needed to help make an informed decision. After all, the purchase of a home is one of the biggest financial decisions in life.