Industry News

Iowa real estate endures slow October

Sales slip, median price falls by double digits

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Iowa home sales and prices continued to fall in October, according to statistics provided by the Iowa Association of Realtors. Realtors recorded 3,023 property sales in October, down 4 percent from a year ago when 3,141 homes sold. The state's median home price declined to $109,650 in October, down from $110,000 in September, and down 14.6 percent from $128,400 posted in October 2005. In Des Moines, the state capital, there were 825 home sales recorded in October, down 9 percent from the same month last year when 905 homes sold. The city's median home price during the period remained at $148,650. Sales in the Greater Davenport area were off 14 percent from a year ago, registering 192 sales in October compared with 224 in October 2005. The area's median home price was mostly flat during the period at $109,600. Despite the overall cooling statewide, Cedar Rapids posted a 9 percent sales gain between October 2005 and October 2006, with closings rising from 330 to 359. The city's median p...