The Iowa housing market showed signs of renewed activity in September sparked by anticipated interest rate decreases, while listing inventory continued to climb across the state offering buyers more options heading into the fall.
New listings in the single-family market jumped 7.2% in September to 4,176 listings from the 3,897 on the market one year ago. Monthly, new inventory also made a gain, increasing 2.9% from the 4,059 homes on the market in August.
Active inventory mirrored its counterpart, jumping 13.6% in September to 9,529 single-family properties available compared to the 8,395 of September 2024. The increases continued monthly, jumping 2.9% from the 8,978 active listings of a month ago.
Sales provided a mixed bag across the state in September. While we saw 2,940 closed sales of single-family properties, a 5.9% increase from the 2,775 sales in 2024, the figure trailed by 14.4% compared to the 3,436 sales of August. Median sales price climbed 6.5% in September to $245,000 from the $230,000 of a year ago, but decreased 2.8% from a month ago.
Days on the market increased 25%, jumping to 20 days from the 16 days on market a year ago. The increase was more mild month-over-month, jumping 5% from August’s 19 days on market.
The lack of a typical seasonal downturn in the fall brings promise of a continually strong housing market in Iowa, even as we enter the late season months of October and November.
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