Industry News

Iowa real estate market stabilizes

Sales, prices nearly unchanged from a year ago

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Home sales in Iowa dipped 0.2 percent in August compared to the same month last year, while prices continued their flat streak, according to statistics provided by the Iowa Association of Realtors. Realtors recorded 3,972 sales statewide in August, down slightly from 4,051 a year earlier. The overall median price of an Iowa home registered $128,600, up just 0.1 percent from $128,500 a year earlier, but down from $129,350 in July. The median is a typical market price where half of the homes sold for more and half sold for less. While overall Iowa home sales were off slightly from the year-ago level, Realtors reported growing sales in some larger markets. Sales in Des Moines, the state capital, gained 6 percent year-over-year in August to 1,130, up from 1,067 in August 2005. The city's median home price edged lower during the period from $148,775 to $148,700. In Cedar Rapids, home sales rose 8 percent during the same period, increasing from 438 to 472, while the median home p...