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Housing Market Still Going Strong


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By: Doug McAllister

 Although summer has almost drawn to a close, the housing market continues to heat up!   The Iowa Association of Realtors has reported that housing prices and sales continued to increase in August. 

 

The sales price averages for the month of August were up 7.8 percent when compared to sales prices in 2012, according to the IAR’s 2013 housing trends report released today.  The sale price average for last August was $150,158 compared to a sale price of $161,860 this August.  Additionally, median prices increased from $129,000 in 2012 to $135,000 in 2013.  Not only are housing price increasing, but we are seeing an elevation in home sales.

 

IAR reported 3,737 homes sold/closed in August 2012.  The number of sales has increased by 3.7 percent to 3,875 homes sold/closed this August.  In addition to the increase in sales, the length of time a house is on the market has decreased by 23.5 percent.  This August, the average length of time a house was on the market before selling was 75 day.  This is decreased in comparison to the average of 98 days a house was on the market in August 2012.     

 

As these figures demonstrate, the housing market is certainly still a sellers’ market!  There is no time like the present to get your house listed.  Even though summer is coming to an end, the housing market is still in full swing!

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