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The Des Moines housing market continued to experience gains in August, with active listings and sales slightly increasing month-to-month as well as maintaining the median sales price. In fact, the metro area hit a welcome milestone, exceeding more than 3,000 homes on the market for the first time since November 2022.

The number of active listings were boosted for the fourth month in a row, reaching above 3,000 for the first time in ten months. With 3,062 homes on the market in August, the metro experienced an increase of 6.3% compared to the 2,880 properties on the market in July. listings represent a nearly 14.7% increase from August 2022 which had 2669 homes on the market.

The number of home sales, or homes that closed in August, in the Des Moines metro area increased 7.5% to 1,314 homes sold in August, compared to the 1,222 sold in July. Year-over-year comparisons were the opposite, with a 10.6% decrease from the 1,470 homes sold in August 2022.

Pending sales decreased slightly in both monthly and yearly measures. August saw 1,162 pending sales, a decrease of 8.2% from the 1,266 pending sales of July and a decrease of 8.8% from the 1,274 pending sales of August 2022.

The median sale price in August was $285,655 which represents a slight decrease from last month’s price of $286,300. But year-over-year the price is on the rise, with an increase of 6.4% compared to the $268,250 median price in August 2022.

Last month, homes averaged 38 days on the market, slightly down from July’s 42 days on the market. The increase was more significant yearly, as days on the market set at 24 in August 2022.

Here’s the offer. I've been thinking how I can add further value to you my clients, past present and future. In regards to real estate, what do people want to know and what do they care about.

I know one thing people want to know because they ask all the time: how's the market? And I hope I am answering that question with my monthly market reports.

But what do people CARE about...they care about their home's value. Whether or not you are going to sell next month, next year or think you'll never sell, your home is an investment so like any investment, it makes sense to track its value.

On that note, each one of you will receive a personalized monthly report of your home's value via email. It’s called myHomeIQ. And this is the coolest tool I've come across in years. Here are some of the educational features:

Home equity tracker you can see every month how much your home's value has gone up and how much equity you currently have.

There is a Transaction estimator in which you can see what your net equity would be if you sold your home, cash out refi, or pull-out equity.

There is also a Loan payment tracker where you can visually see a timeline of your interest paydown and you can even adjust your payment on a sliding scale to see how each amount affects the principal balance over the term of the loan.

I've personally used this program and it is amazingly accurate.

So, if you own a home in the Greater Des Moines Iowa metro area and would like this complimentary monthly personalized report of your home's value, send me an email, call or text me. I would be happy to share this wonderful tool to help you keep track of your investment whether you plan to sell or never sell! I hope you love it as much as I do!