Is Downtown Des Moines, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Downtown Des Moines was a Seller's Market.
Key Takeaway
Downtown Des Moines is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Downtown Des Moines, IA
How much do homes in Downtown Des Moines, IA cost?
Median Sold Price
$282,000
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Downtown Des Moines have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Downtown Des Moines was $282,000 in May 2024, up 2.5% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $197.4K | $192K | -2.8% |
| 2 Bedrooms | $297K | $312.5K | +5.2% |
| 3 Bedrooms | $435K | $426.1K | -2.0% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Downtown Des Moines housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.8%, 2 bedroom homes increased by 5.2%, 3 bedroom homes decreased by 2%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Gray's Lake | $185K | $225K | +21.6% |
| Indianola Hills | $169K | $187K | +10.7% |
| McKinley School / Columbus Park | $155K | $165K | +6.5% |
| Downtown Des Moines | $275K | $282K | +2.5% |
| Sherman Hill | $286K | $255.5K | -10.7% |
Housing Supply in Downtown Des Moines, IA
How many homes are available in Downtown Des Moines, IA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 32 | 38 | +18.8% |
Summary: The Downtown Des Moines real estate market had 38 homes for sale in May 2024, a 18.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 15 | 18 | +20.0% |
| 2 Bedrooms | 12 | 13 | +8.3% |
| 3 Bedrooms | 4 | 6 | +50.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Downtown Des Moines housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 4 | -42.9% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Downtown Des Moines, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Downtown Des Moines in May 2024, down by 42.9% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Downtown Des Moines, IA
How long does it take to sell a home in Downtown Des Moines, IA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 175 Days | 44 Days | -74.5% |
Summary: Homes in Downtown Des Moines had an average of 44 days on market in May 2024, down by 74.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Downtown Des Moines are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Downtown Des Moines; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
