Is Des Moines, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$209,944
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Des Moines have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Des Moines was $209,944 in April 2024, up 7.7% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | $124.4K | -7.9% |
| 2 Bedrooms | $153.3K | $162.5K | +6.0% |
| 3 Bedrooms | $205.2K | $224.9K | +9.6% |
| 4 Bedrooms | $239K | $259K | +8.3% |
| 5+ Bedrooms | $279.9K | $324K | +15.7% |
Summary: Des Moines housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.9%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 15.7%.
Median Sold Price Compared To Nearby Cities
| Bloomfield Township | $190.4K | $215K | +12.9% |
| Allen Township | $306K | $329.9K | +7.8% |
| Des Moines | $194.9K | $209.9K | +7.7% |
| Lee Township | $171.4K | $180K | +5.0% |
| Des Moines Township | $200K | $209.6K | +4.8% |
Housing Supply in Des Moines, IA
How many homes are available in Des Moines, IA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 955 | 956 | 0.1% |
Summary: The Des Moines real estate market had 956 homes for sale in April 2024, a 0.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 33 | 31 | -6.1% |
| 2 Bedrooms | 258 | 266 | +3.1% |
| 3 Bedrooms | 416 | 432 | +3.8% |
| 4 Bedrooms | 186 | 170 | -8.6% |
| 5+ Bedrooms | 62 | 57 | -8.1% |
Summary: The Des Moines housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 6.1%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 3.8%, 4 bedroom homes decreased by 8.6%, and 5+ bedroom homes decreased by 8.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 253 | 255 | +0.8% |
Asking Price vs. Sold Price
124 Homes Were Sold
Under Asking
76 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. 48.6% of homes here sold below asking price last month.
Summary: A total of 255 homes were sold or pending in Des Moines in April 2024, up by 0.8% month-over-month. Of the 255 sold homes, 49% were sold under asking, 30% were sold at asking, and 22% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 24 Days | 32 Days | +33.4% |
Summary: Homes in Des Moines had an average of 32 days on market in Apr 2024, up by 33.4% compared to last year.
Breakdown of Home Sale Times
180 Homes Were Sold
Under 30 Days
42 Homes Were Sold
In 30 - 90 Days
33 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 April 2024, 255 homes were sold in Des Moines; 71% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
