Median sale price of DM-area house sets another record in May
BUSINESS RECORD STAFF Jun 16, 2022 | 8:09 pm
1 min read time
202 wordsAll Latest News, Housing, Real Estate and DevelopmentThe median sale price of a house sold in the Des Moines area reached yet another record high in May, at $275,000, according to Des Moines Area Association of Realtors data.
May’s record surpassed the previous record high of $266,860, set in April. The median sale price in May was $29,050, or nearly 12%, higher than in May 2021 when it was $245,950.
Other highlights from the association’s report on home sales in the Greater Des Moines area, which includes Polk, Dallas, Warren, Jasper, Marion, Madison and Guthrie counties, include:
- 1,453 residences were sold in May. That was, 43, or 3%, fewer than the 1,496 sold in May 2021. For the first five months of 2022, 5,934 residences have been sold. During the same period in 2021, 5,845 were sold.
- Residences sold in an average of 31 days in May, the quickest pace so far in 2022. In April, residences were sold in an average of 32 days. Of the 1,453 residences sold in May, 78%, or 1,135, were sold in 30 days or less.
- Eleven of the residences sold in May were priced at $1 million or higher. In May 2021, six were sold for $1 million or more.