Is Des Moines, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Des Moines has remained a Seller's Market.
Key Takeaway
Des Moines is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Des Moines, IA
How much do homes in Des Moines, IA cost?
Median Sold Price
$207,620
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Des Moines have sold for 7% more than they did a year ago.
Summary: The median home sold price in Des Moines was $207,620 in March 2024, up 7% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | $124.9K | -16.7% |
| 2 Bedrooms | $154.9K | $162K | +4.6% |
| 3 Bedrooms | $204.9K | $221.6K | +8.1% |
| 4 Bedrooms | $235K | $257.8K | +9.7% |
| 5+ Bedrooms | $280K | $317K | +13.2% |
Summary: Des Moines housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 13.2%.
Median Sold Price Compared To Nearby Cities
| Bloomfield Township | $192.2K | $210K | +9.2% |
| Des Moines | $194K | $207.6K | +7.0% |
| Lee Township | $170K | $179.7K | +5.7% |
| Des Moines Township | $199.9K | $207K | +3.5% |
Housing Supply in Des Moines, IA
How many homes are available in Des Moines, IA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 828 | 898 | +8.5% |
Summary: The Des Moines real estate market had 898 homes for sale in March 2024, a 8.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 31 | 30 | -3.2% |
| 2 Bedrooms | 228 | 248 | +8.8% |
| 3 Bedrooms | 362 | 388 | +7.2% |
| 4 Bedrooms | 154 | 169 | +9.7% |
| 5+ Bedrooms | 53 | 63 | +18.9% |
Summary: The Des Moines housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 3.2%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 18.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 159 | 235 | +47.8% |
Asking Price vs. Sold Price
121 Homes Were Sold
Under Asking
59 Homes Were Sold
At Asking
55 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Des Moines, you may be able to get a good deal. 51.5% of homes here sold below asking price last month.
Summary: A total of 235 homes were sold or pending in Des Moines in March 2024, up by 47.8% month-over-month. Of the 235 sold homes, 51% were sold under asking, 25% were sold at asking, and 23% were sold over asking.
Days on Market for Des Moines, IA
How long does it take to sell a home in Des Moines, IA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 41 Days | 43 Days | +4.3% |
Summary: Homes in Des Moines had an average of 43 days on market in Mar 2024, up by 4.3% compared to last year.
Breakdown of Home Sale Times
141 Homes Were Sold
Under 30 Days
54 Homes Were Sold
In 30 - 90 Days
40 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Des Moines are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 235 homes were sold in Des Moines; 60% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
