The median sale price of a home in the Des Moines area in November was $252,000, 17.2% higher than in November 2020, data from the Des Moines Area Association of Realtors shows.

In November 2020, the median sale price of a Des Moines-area residence was $215,000; in October 2021 it was $260,000, records show.

Overall, 1,386 residences were sold in November in the Greater Des Moines market, which includes Polk, Dallas, Warren, Jasper, Marion, Madison and Guthrie counties, association data shows. In October there were 1,496 home sales; in November 2020 there were 1,288 sales.

“The market in November was a pleasant surprise with a nice bump in sales,” Ted Weaver, the association’s president, said in a prepared statement. “The warmer-than-usual fall weather likely influenced the activity of our buyers and sellers.”

Homes sold in an average of 32 days in November; a year ago, residences sold in an average of 61 days.
  
Whether 2022 homes sales continue at the current fast-paced clip likely depends on mortgage interest rates, industry experts say.

For the week ending today, the average 30-year fixed-rate mortgage was 3.05%, according to Freddie Mac’s Primary Mortgage Market Survey. Last week the average rate was 3.12%; a year ago it was 2.66%.

“The market volatility resulting from the COVID-19 Omicron variant is causing mortgage rates to decrease,” Sam Khater, Freddie Mac’s chief economist, said in a prepared statement. “Rates are expected to increase in 2022 which will impact homebuyer demand as well as refinance activity.”

Des Moines association data for November also shows:

•2,194 residences were for sale, 2.7% fewer than the 2,255 properties for sale in October. There were 2,387 residences for sale in November 2020.
•986, or 71.1%, of the 1,386 properties sold were financed conventionally; 164 properties were paid for with cash.
•456, or 32.9%, of the residences sold were priced at $199,999 or less. In November 2020, 495, or 38.4%, of the 1,288 residences sold were priced at $199,999 or less.
•Five residences were sold for $1 million or more; there were four sold in November 2020.  

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