$2,731 Closing Credit*
$230,000
872 SqFt
3 Beds
•1 Full Bath
Sydnee Wrage, Listing Office: RE/MAX Concepts
Is Des Moines, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Des Moines has remained a Seller's Market.
Key Takeaway
Des Moines is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Des Moines, IA
How much do homes in Des Moines, IA cost?
Median Sold Price
$214,985
$190/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$14,985(+7.5%)
Key Takeaway
Homes in Des Moines have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in Des Moines was $214,985 in October 2024, up 7.5% from last year, and the median price per square foot was $190.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $131K | $123.9K | -5.5% |
| 2 Bedrooms | $155.6K | $165K | +6.1% |
| 3 Bedrooms | $215K | $225.9K | +5.1% |
| 4 Bedrooms | $250K | $276.6K | +10.7% |
| 5+ Bedrooms | $275K | $322K | +17.1% |
Summary: Des Moines housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.5%, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 17.1%.
Median Sold Price Compared To Nearby Cities
| Lee Township | $171.8K | $189.9K | +10.5% |
| Bloomfield Township | $200.5K | $218.6K | +9.0% |
| Des Moines | $200K | $214.9K | +7.5% |
| Des Moines Township | $200K | $214.8K | +7.4% |
Housing Supply in Des Moines, IA
How many homes are available in Des Moines, IA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,099 | 1,175 | +6.9% |
Summary: The Des Moines real estate market had 1,175 homes for sale in October 2024, a 6.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 32 | 37 | +15.6% |
| 2 Bedrooms | 303 | 322 | +6.3% |
| 3 Bedrooms | 490 | 518 | +5.7% |
| 4 Bedrooms | 206 | 229 | +11.2% |
| 5+ Bedrooms | 68 | 69 | +1.5% |
Summary: The Des Moines housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.6%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 1.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 212 | 240 | +13.2% |
Asking Price vs. Sold Price
139 Homes Were Sold
Under Asking
62 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Des Moines, you may be able to get a good deal. 57.9% of homes here sold below asking price last month.
Summary: A total of 240 homes were sold or pending in Des Moines in October 2024, up by 13.2% month-over-month. Of the 240 sold homes, 58% were sold under asking, 26% were sold at asking, and 16% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 32 Days | +9.0% |
Summary: Homes in Des Moines had an average of 32 days on market in Oct 2024, up by 9% compared to last year.
Breakdown of Home Sale Times
157 Homes Were Sold
Under 30 Days
61 Homes Were Sold
In 30 - 90 Days
22 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Des Moines are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 240 homes were sold in Des Moines; 65% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
