The Iowa Association of REALTORS® (IAR) reported that February home prices are up and sales were down.
According to the IAR’s Housing Trends Report, the median sale price increased by 5.5 percent from February 2015. The median sale price in February was $135,000 compared to $128,000 from last year.
Sales declined by 4.7 percent when compared to February 2015. 2,062 homes were sold in February 2015, while 1,966 homes were sold last month.
Homes sold slightly slower in February 2016 than February of last year. Days on market was 4.3 percent higher with an average of 97 days compared to 93 days in February 2015.
“The winter weather and low inventory in most major market areas continues to affect home sales in Iowa. New active listings increased by 5.4 percent and pending properties are holding steady when compared to last year. With warmer weather and many construction projects ramping up, we expect to have a stronger buying and selling season this spring,” stated Ken Clark, President of the Iowa Association of REALTORS®.
The information used to create the IAR February 2016 Housing Trends Report was current as of February 10 at 8:00 a.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.
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®.
The Iowa Association of Realtors® is the state’s largest real estate professional organization representing over 6,700 members and affiliates. 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. IAR compiles all of the local board data into the statewide report each month. 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.
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