Here's our local real estate market update for May 2024! If you’d like to watch instead of read: CLICK HERE!

The Des Moines metro housing market showed vitality in May with an uptick in nearly all statistics measured by the Des Moines Area Association of REALTORS®, including homes sold and active listings.  

In this spring market, we are seeing a continued increase in the number of homes for sale, but we are also seeing an increase in days on market. This is a great combination for buyers, as this gives them plenty of homes to choose from and it gives them time to make an informed decision.

Active listings continue to rise. May saw an increase of 5.77% with 3,279 houses listed on the market compared to last month’s 3,100 homes. Last year, the May market included 2,651 homes listed, resulting in the year-over-year statistic jumping 23.69%.

Home sales in the month of May increased 19.95% with 1,371 homes sold, compared to the 1,143 sold in April. May 2023 saw 1,270 homes sold resulting in an uptick of 7.95% year-over-year.

May pending sales were down 7.81% with 1,322 contracts written compared to April’s 1,434. Year-over-year pending sales slipped 5.16% with 1,394 contracts written in May 2023.

The median sale price for the Des Moines metro area for May was a record high at $299,500, an increase of 6.02% from April’s $282,500 median sale price. Year-over-year there was an increase of 3.63% in price compared to last year’s $289,000. 

Days on the market increased 5.17% with 61 days in May compared to last month’s 58 days. In May 2023 the number of days on market were 51 causing an increase of 19.61% of days on the market.