Iowa recorded a total of 1,870 closed sales in January, a 4.8% year-over-year increase, while new listings grew by 23.9% to 2,956 homes.
According to data from Iowa Realtors, the overall active inventory of 7,524 homes on the market was up by 29.7% from the 5,807 active listings of one year ago. Days on the market increased 36% to 34 days, while the median sold price per square foot increased 5% $148 compared to one year ago.
The median sales price remained steady at $220,000, a 2.3% increase from last year.
In the townhome and condo segment, the 214 sales recorded last month was down 1.8% from one year earlier. However, new listings surged by 42.1%, to 601 listings while the median sales price for townhomes and condos dipped by 3.9% to $226,000. In January, townhome and condo properties spent an average of 35 days on the market, up 66.7% compared to last year.
“The Iowa housing market as a whole had a strong start to 2025, with increased available inventory and active buyer engagement,” said Travis Bushaw, president of Iowa Realtors. “While we likely won’t see interest rates below 6% in the next 12 months, current buyer activity is leading us to believe that buyers have come to accept rates between 6% and 7% as ‘normal.’ Couple that with a slowdown in the accelerated appreciation we’ve seen over the last five years, and barring any major interest rate spikes, the projections look very positive for 2025.”
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