Statewide Iowa — January’s real estate activity in Iowa was steady and similar in many ways to last year at this time according to a statewide organization.
The Housing Trends by the Iowa Association of REALTORS® says home sales bumped up less than a percent in January 2022 when compared to sales in January 2021. Median sales price rose 3.4 percent over January 2021.
They tell us 2,649 homes sold in January 2022 with new properties coming on the market dropping 9.9 percent compared to new listings in January 2021.
The median sales price is a little higher for January 2022, at $185,000 compared to $179,000 in January of last year.
The Iowa Association of REALTORS says homes sold very quickly in January at an average of 41 days on the market. That is over 21 percent faster than in January of 2021.
Echoing what we hear from economic development professionals, The Iowa Association of REALTORS says the number of homes available for sale continues to be low in many price ranges. The inventory of homes was 16.5 percent lower than in January 2021 with only 6,896 homes on the market.
IAR President Byron Menke says that due to January’s typical winter weather, the seasonal trend of slightly lower overall sales and fewer homes on the market continued. He says that potential sellers can take advantage of less competition on the market and strong demand from buyers. Mortgage rates are still well below the historical average. He says, “We encourage buyers to get pre-approved and speak to a local Realtor® about starting the buying process.”
