The inventory of Iowa homes for sale climbed 4.4% in June, with 7,417 homes on the market versus 7,104 listings in May. According to new data from the Iowa Association of Realtors (IAR), the state’s inventory level soared by 31.8% from the 5,626 homes listed in June 2023.
“Inventory continues to outshine other metrics in the Iowa housing market,” said IAR President Shaner Magalhães. “With strong spring and summer storms potentially dampening buyers’ ability to get out and view homes, we know that the market is poised to see interested parties to their new properties.
However, the 3,871 homes that were new listings in June marked a 9.2% drop from both the previous month and one year earlier. Also on the decline were home sales – 3,228 transactions, down 2.3% from May and down 17% year-over-year. And the 2,914 pending sales of June was a 15.5% year-over-year tumble and a 2.9% dip month-over-month.
While sales slipped, home prices did not. The median sales price jumped 6.4% in June to $250,000 compared to the $235,000 median price from one year earlier.
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