Homes Prices up 8.7% in October; Sales in 2015 Outpace Last Year.

WASHINGTON, D.C. – November 25, 2015 – (RealEstateRama) — Home prices continue to climb. Home sales dipped slightly and the days on market remain low.

The median sale price rose 8.7 percent from October of last year. The median price was $126,500 in October 2014 compared to $137,500 this year.

Homes were on the market for an average of 69 days last month compared to 86 days in October 2014. That is a decrease of almost 20 percent!

Home sales dropped 8.3 percent from October of last year. 3,412 homes sold last month, while 3,719 homes sold in October 2014. Despite this drop in sales, total sales for the year is 5.8 percent higher than in 2014.

“As we always say, real estate is local. In order to get the best picture of the market in your area, contact a local Realtor® today for a comprehensive market analysis. There is serious potential in listing your property now. Interested buyers at this time of year are very serious about buying a home. Inventory naturally goes down as well so your home may stand out more.” 2015 IAR President Jon Yocum stated.

The information used to create the IAR 2015 October Housing Trends Report was current as of November 23 at 7:30 a.m. The information is subject to change due to the dynamic nature of the IAR’s housing statistics system, which is updated hourly based on information present in local participating MLS (multiple listing service) systems.

The term Realtor® is a registered trademark, which identifies real estate professionals who follow a strict Code of Ethics as members of the National Association of Realtors®.

The Iowa Association of Realtors® is the state’s largest real estate professional organization representing over 6,800 members and affiliates. The IAR releases a Housing Trends Report each month. Data is collected from local Realtor® boards through their multiple listing service (MLS), which tracks sales activities in the board area. IAR compiles all the local board data into the statewide report each month. Reports are available online to IAR members and affiliates with a login and password. Anyone is eligible to become an IAR affiliate. For membership information, visit www.iowarealtors.com.

NEWS FOR IMMEDIATE RELEASE
CONTACT: Mark Gavin
Iowa Association of REALTORS®

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