Des Moines, IA housing market

The story in Des Moines this June is patience. Homes are taking their time, with a median of about fifty-three days on the market before they sell. That is not a market where you can rush a buyer. The typical home value is around two hundred thirty-four thousand dollars, and it is down about three tenths of a percent over the past year. So values are essentially flat, sliding just slightly. There are about 744 homes for sale, and roughly 352 new listings came on recently, so buyers have real choices. The median list price sits near two hundred forty-eight thousand five hundred dollars, a bit above what homes are actually worth, which explains why sellers are having to adjust. Right now about eighteen percent of listings have cut their price. Put it together and the message is clear. This is a market that rewards realistic pricing. If you price at fair value from day one, you sell. If you reach, you sit, then cut.