According to the Iowa Association of REALTORS® (IAR), home prices rose slightly and sales decreased in February.
IAR’s February 2014 Housing Trends Report shows that the average sale price of homes across Iowa was $141,489, up .5 percent from last February. The average sale price in February 2013 was $140,751.
According to IAR, sales decreased by 5.1 percent from last year. IAR reports 1,792 homes sold in February 2014, while 1,889 homes sold in February 2013.
Twenty-six of Iowa’s 44 local boards reported increases in average sale price, while 16 boards had increases in the number of sales.
The statewide average number of days on the market last month was 103 days, up 1 day or 1 percent from last February. Twenty-three boards showed a decrease in days on the market.
Kathy Miller, IAR 2014 President, says, “The extreme cold, snow, and wind that we’ve experienced this winter, has definitely influenced buyers and sellers across the state. Sellers are inclined to wait for warmer weather to list, and buyers are reluctant to move in the inclement weather we’ve experienced.” Miller expresses optimism by saying, “However, spring is in the air; and we’re sure to see an increase in activity in March. Interest rates remain low, which should bring buyers to the table and help sellers get their properties sold.”
The information used to create the February 2014 Housing Trends report was current as of March 10 at 9:34 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 Benton County Board has not yet reflected in the statewide statistics.
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 more than 6,400 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. The 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.
NEWS FOR IMMEDIATE RELEASE
CONTACT: Amy Lucht, Communications Coordinator
Iowa Association of Realtors®