Is Des Moines, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Des Moines has remained a Seller's Market.
Housing Prices in Des Moines, IA
How much do homes in Des Moines, IA cost?
Median Sold Price
$209,989
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Des Moines was $209,989 in May 2024, up 7.3% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130.1K | $123.2K | -5.3% |
2 Bedrooms | $154.9K | $163K | +5.2% |
3 Bedrooms | $209K | $225K | +7.6% |
4 Bedrooms | $241.4K | $264.8K | +9.7% |
5+ Bedrooms | $313K | $324K | +3.5% |
Summary: Des Moines housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.3%, 2 bedroom homes increased by 5.2%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 3.5%.
Median Sold Price Compared To Nearby Cities
Bloomfield Township | $194.5K | $220K | +13.1% |
Lee Township | $170.1K | $184K | +8.1% |
Des Moines | $195.6K | $209.9K | +7.3% |
Des Moines Township | $197K | $209.9K | +6.6% |
Allen Township | $320K | $328.9K | +2.8% |
Housing Supply in Des Moines, IA
How many homes are available in Des Moines, IA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1,007 | 992 | -1.5% |
Summary: The Des Moines real estate market had 992 homes for sale in May 2024, a 1.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 30 | 36 | +20.0% |
2 Bedrooms | 286 | 263 | -8.0% |
3 Bedrooms | 452 | 451 | -0.2% |
4 Bedrooms | 175 | 188 | +7.4% |
5+ Bedrooms | 64 | 54 | -15.6% |
Summary: The Des Moines housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes decreased by 8%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes decreased by 15.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
277 | 255 | -7.9% |
Asking Price vs. Sold Price
119 Homes Were Sold
Under Asking
68 Homes Were Sold
At Asking
68 Homes Were Sold
Over Asking
Summary: A total of 255 homes were sold or pending in Des Moines in May 2024, down by 7.9% month-over-month. Of the 255 sold homes, 47% were sold under asking, 27% were sold at asking, and 27% were sold over asking.
Days on Market for Des Moines, IA
How long does it take to sell a home in Des Moines, IA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
25 Days | 29 Days | +17.5% |
Summary: Homes in Des Moines had an average of 29 days on market in May 2024, up by 17.5% compared to last year.
Breakdown of Home Sale Times
189 Homes Were Sold
Under 30 Days
41 Homes Were Sold
In 30 - 90 Days
25 Homes Were Sold
Over 90 Days
Summary: During May 2024, 255 homes were sold in Des Moines; 74% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.