The median sale price in the Des Moines area of a residence shot up to a record-high $265,000 in September, a 4% increase from August and the third straight month median sales prices have increased, data from the Des Moines Area Association of Realtors shows.

A year ago, the median sale price of a residence was $229,700.

Overall, 1,459 homes were sold in September in the Greater Des Moines market, which includes Polk, Dallas, Warren, Jasper, Marion, Madison and Guthrie counties, association data shows. In August, there were 1,678 home sales; in September 2020, there were 1,439 sales.

“We are seeing the typical steady fall market,” Ted Weaver, the association’s president, said in a prepared statement. “The continual increases in the inventory of available homes bodes well for the future.”

Demand for housing will likely remain strong for the rest of the year, even as mortgage interest rates inch upward, Freddie Mac, the federally chartered mortgage investor, said today in its weekly release.

Interest rates for 30-year fixed-rate mortgages are at their highest level since early April when they averaged 3.13%. In today’s release, the 30-year fixed rate average was 3.09%; last week it was 3.05%.

Also in September, the Realtors’ association data shows:
 Homes sold in an average of 28 days; a year ago, residences sold in an average of 46 days.   
 2,279 residences were for sale, 5% more than the 2,173 properties for sale in August. There were 2,640 residences for sale in September 2020.
 1,081, or 74%, of the 1,459 properties sold were financed conventionally; 164 properties were paid for with cash.
 421, or 29%, of the residences sold were priced at $199,999 or less. In August 2020, 37%, or 531, of the 1,439 residences sold were priced at $199,999 or less.
 Five residences were sold for $1 million or more, the same number as August 2020.