Industry News

Iowa real estate sales jump 20%

Home prices grow in largest markets

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Iowa home sales rose significantly in March compared to one year earlier, while the statewide median home price was mostly unchanged, according to the Iowa Association of Realtors. Realtors reported 3,225 single-family home sales in March, up 20 percent from 2,671 in March 2005. The median price of an Iowa home in March was $109,750, up just 0.4 percent from a year earlier when the price was $109,400. The median is a typical market price where half of the homes sold for more and half sold for less. Among the cities reporting the strongest increases, Des Moines saw 940 home sales in March, up 16 percent from 808 a year earlier, while the city's median home price climbed 14 percent during the same period, from $129,800 to $148,650. Sales in Cedar Rapids totaled 387 in March, up 27 percent from a year ago, while the median home price rose 5 percent during the period, from $128,000 to $134,000. The Iowa Association of Realtors is one of the state's largest real estate profession...