CLINTON — Home prices and home sales are still on the rise in Iowa for the month of August, according to the Iowa Association of Relators.
Iowa recorded a number of increases in August, including average sale price, median sale price, homes sold and closed on and days on the market.
According to IAR’s 2013 Housing Trends Report, the average sale price reached 7.8 percent higher than last year’s August numbers. Median price also saw an increase at 4.7 percent higher than last year.
The average sale price for August 2012, approximated $150,158, more than $10,000 less than August 2013 at $161,860. Median price ascended from $129,000 in 2012 to $135,000 in 2013.
Sales were also up in the IAR 2013 report for August, a 3.7 percent increase from 3,737 homes sold last year to 3,875 this year and days on the market continued to drop, down 23.5 percent.
Last year, the average number of days that homes spent on the market was 98 days. Homes in August 2013 averaged only 75 days on the market.
The only decrease that happened in August of this year is the statewide inventory of homes, which declined 6.4 percent from last year despite a 3.8 percent increase in new active listings.
August 2012 inventory listed 21,416 homes while inventory this August reached only 20,035, but while new active listings peaked at 4,938 in 2012, new active listings for 2013 reached 5,127.
The month’s supply of inventory also saw a decrease in August, a 12.8 decrease, from 7.5 months in 2012 to 6.6 months in 2013.
“Inventory is up slightly from previously months, but we are still in a seller’s market situation,” President of the Iowa Association of Relators Don Marple said in a press release. “Pending listings are also still up slightly from last year, which indicates we should continue to see a strong market in the next several months.”