The Iowa housing market experienced a welcome October surprise, with every metric tracked by the Iowa REALTORS organization falling into the positive.
A late September interest rate drop by the Federal Reserve helped buyers and sellers throughout the month of October.
The number of homes on the market across the state grew by double digits in October. With 3,925 homes on the market, new listings jumped 15-point-5 percent from the 3,397 listed last year at the same time. Single family home sales increased by 9-point-1 percent in October with 2,973 sales completed compared to the 2,720 homes sold in October of last year.
Days on the market increased to 42 days compared to the 37 days last year. The median sales price also increased by 9-point-3 percent to 235-thousand dollars from the 215-thousand dollars of one year ago.
