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We didn’t see a lot of change in new listings or pending sales month over month. The biggest jump was an increase in homes sold rising 15.2%.

The market didn’t see a lot of movement month over month, but for the second month in a row, we saw an increase in the number of homes on the market in the Des Moines metro area. Buyers love to see new inventory hit the market! June had 2,781 properties on the market compared to May’s 2651 active listings. These listings represent a 4.9% increase from the last month and a 17.6% increase from the active listings of one year ago.

Where we did see a nice increase month over month was in home sales, or homes that closed in June. The increase was 15.2% month over month with 1,464 homes sold in June, compared to the 1,270 sold in May. Year-over-year comparisons continued to lag behind for homes sold, representing a 12.9% decrease from the 1,682 homes sold in June 2022, which was the height of our market in 2022.

Pending sales saw a nominal decline for both monthly and yearly stats. With 1,350 pending sales in June, the figure was a mere 3% decrease from the 1,394 pending sales of May and an 8.9% decrease from the 1,483 pending sales recorded in June 2022.

June’s median sale price of $291,700 represents a slight increase from last month’s median price of $289,000. The year-over-year increase in median price was a bit more noticeable at 3% compared to the $283,500 median price in June 2022. Last month, homes averaged 42 days on the market, a decrease of nine days from May, and a 20 day increase from the 22 days homes averaged on the market in June 2022.