Here's our local real estate market update for February 2024! If you’d like to watch instead, CLICK HERE!

The Des Moines area housing market experienced a surge in active listings with more than 100 added from the month prior. Despite the increase of listings, closed sales remained consistent with past figures for both the monthly and yearly comparisons. 

Active listings saw a positive boost both on the monthly and yearly numbers. February had 2,852 active listings, which is a 4% increase from the previous month with 2,476 active listings. The new listings were an increase of 16% compared to the 2,463 active listings in February 2023.

The number of home sales decreased slightly 0.29% in February with 675 homes sold compared to the 677 sold in January. Year-over-year, there was a wider decline of 3% from the 695 homes sold in February 2023.

Pending sales helped the market blossom this month, with 1,158 pending sales in February. This was an increase of 20% compared to last month's 959 pending sales. February 2023 had 1,032 pending sales which has this year’s figure surpassing it by 12%. 

February’s median sale price of $265,000 decreased 2% from the previous month that saw a median sale price of $270,000. The Des Moines metro area also saw a 2% decline from January to December 2023. The slight decrease for both months could be attributed to the freezing temperatures. But the median sale price still represents a large jump from the previous year's median sale price of $245,000.

In February homes averaged 69 days on the market, up from the 61 days homes were on the market in January and up from last year’s 59 days on market.