CLIVE, IOWA (Dec. 15, 2011) – According to the Iowa Association of Realtors® (IAR), Iowa home sales were up again in November, marking it the fourth month in a row with an increase in number of sales.
IAR’s 2011 November Housing Trends Report indicates the number of home sales in November increased by 12.2 percent, with 261 more sales last month than November of 2010. IAR reports 2,395 homes sold/closed in November 2011, while 2,134 homes sold/closed in November 2010.
Prices last month were very comparable to last year, down a mere 0.6 percent or $900 from November 2010. The average sale price across the state in November 2011 was $138,804, while the average sale price in November 2010 was $139,704.
IAR also reports the statewide inventory at the end of the month was 21,431, which includes 3,112 new active residential listings. The average days on the market in November was 109 days, up 3 days or 2.8 percent from November 2010 when the average was 106 days.
“Market activity typically slows a bit at this time of the year, as people are busy preparing for and celebrating the holidays,” says Dale Gross, president of the Iowa Association of Realtors®. “In light of this annual trend, it’s great to see a continual flow of increased activity here in Iowa. Iowans must be taking advantage of the low mortgage interest rates and good supply of homes currently available.”
Twenty-seven of the 44 local boards across Iowa reported increases in the number of sales and 27 boards reported increases in average sale price from November 2010. Seventeen boards showed a decrease in the average number of days on the market.
The IAR releases a Housing Trends Report each month. Data is collected from local Realtor® boards through their multiple listing service (MLS), which tracks sales activities in the board area. The IAR compiles all of the local board data into the statewide report each month. The information used to create the November 2011 Housing Trends Report was current as of December 12 at 1:00 p.m. The information is subject to change due to the dynamic nature of the IAR’s housing statistics system, which is updated hourly based on information present in local participating MLS (multiple listing service) systems. Reports are available online to IAR members and affiliates with a login and password. Anyone is eligible to become an IAR affiliate. For membership information, visit www.iowarealtors.com.
All real estate is local and each market is unique. IAR encourages interested buyers and sellers to contact a local Realtor® for more information on the market in their community. Realtors® are the number one voice for real estate and defenders of home ownership. To find a local Realtor® visit SeeIowaHomes.com. The term Realtor® is a registered trademark, which identifies real estate professionals who follow a strict code of ethics as members of the National Association of Realtors®(NAR). The Iowa Association of Realtors® is the state’s largest real estate professional organization representing more than 7,000 members and affiliates.
Source: Iowa Association of REALTORS®
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