Indianola Iowa Housing Statistics

Indianola Iowa Housing Statistics 

WASHINGTON (July 22, 2015) — Existing-home sales increased in June to their highest pace in over eight years, while the cumulative effect of rising demand and limited supply helped push the national median sales price to an all-time high, according to the National Association of Realtors®. All major regions experienced sales gains in June and have now risen above year-over-year levels for six consecutive months.

Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 3.2 percent to a seasonally adjusted annual rate of 5.49 million in June from a downwardly revised 5.32 million in May. Sales are now at their highest pace since February 2007 (5.79 million), have increased year-over-year for nine consecutive months and are 9.6 percent above a year ago (5.01 million).

Lawrence Yun, NAR chief economist, says backed by June's solid gain in closings, this year's spring buying season has been the strongest since the downturn. "Buyers have come back in force, leading to the strongest past two months in sales since early 2007," he said. "This wave of demand is being fueled by a year-plus of steady job growth and an improving economy that's giving more households the financial wherewithal and incentive to buy."

Adds Yun, "June sales were also likely propelled by the spring's initial phase of rising mortgage rates, which usually prods some prospective buyers to buy now rather than wait until later when borrowing costs could be higher."

The news release above, issued by NAR on July 22nd provides perspective into the National Housing market.  Indianola Iowa Housing Statistics, as of July 31, 2015, shows a slight increase in inventory from past months. The average price of homes sold has also increased to about 103% of the same period in 2014, while the number of days on market have decreased from 83 to 74 days on average.  Listed inventory in Indianola is still less than a six month average and homes that are priced right sell quickly, mirroring the national statistics that we are still in a “Seller’s” Market.

 

Indianola Real Estate Statistics for Jan. 1 – July 31, 2015

            #Listings       List Price (Range)          Average Price

Condos             4        $89,900 - $123,900              $101,617

Acreages        19        $199,900 - $1,300,000         $482,021

Residential     55        $58,000 - $449,900              $204,244

             # Pending     List Price (Range)              Average Price

Condos             3        $63,000 - $81,000                 $ 74,633

Acreages          8        $139,900 - $489,900             $313,500

Residential     25        $95,000 - $314,900               $185,120

            # Sold

Jan – July 31, 2015   Sold Price (Range)             Average Price     DOM

Condos           10          $49,900 - $219,900             $142,310            107

Acreages        34        $102,000 - $511,677             $249,993              91

Residential    133        $27,500 – $364,900              $173,754             74

 

                               2014 Sales

Jan 1 – July 31, 2014                   

              # Sold         Sold Price (Range)            Average Price      DOM

Condos           15        $49,900 - $239,900               $134,780           196

Acreages        29        $49,000 - $445,000               $266,009           108

Residential    202        $30,621 - $417,500               $167,473            83

Interest Rates

Mortgage Interest rates have decreased again in the past with current rates running at or below 3.5% on 30 year notes.  Experts are still anticipating an interest rate increase sometime this year

NOTE:  In July the Des Moines Area Association of Realtors changed to a new MLS carrier, thus the statistics for this month will not match up completely with past reports due to differences in the reporting systems of the two carriers.. 

 

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