Here is your local real estate market update for June 2024. If you’d like to watch instead of read: CLICK HERE!   

The Des Moines metro housing market is kicking into high gear with another month of an increase in active listings and for a change a decrease in days on market.

Buyers are taking advantage of the increase in inventory and slightly lower interest rates. While sellers are excited to see their homes selling more quickly and for more money than last month.

Active listings in June saw a 3% increase with 3,375 homes listed compared to the 3,279 homes listed last month. Year over year, there was a 21% increase of listed homes compared to the 2,781 homes listed for sale in June 2023.

Home sales in the month of June saw a slight decrease of 6.9% with 1,278 homes sold compared to the 1,371 sold in May. The month saw a decrease of 12.7% year-over-year when compared to the 1,464 homes sold in June 2023.

June pending sales were down 7.3% with 1,225 contracts written compared to the 1,322 contracts written one month ago. Year-over-year pending sales slipped 9.25% from the 1,350 contracts written in June 2023.

The median sale price for the Des Moines metro area for June continued to climb, sitting at $307,000, an increase of 2.5% from last month. Year-over-year there was an increase of 5.25% in price compared to the June 2023 median of $291,700.

Days on the market decreased 22.9% in June with 47 days, compared to the 61 days on market recorded in May. In June 2023, the number of days on market was listed at 42 days, resulting in a year-over-year increase of 11.9%.