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Des Moines September 2009 home sales show tax credit bump

Des Moines September's home sales rose to from the year earlier due in large part to the home buyer tax credit set to expire on November 30th 2009.

I noticed a lot of activity related to first time buyers both on the buying and listing sides. My feeling is that hesitant buyers who had been waiting all year finally got spooked that the tax credit would not be extended or changed substantially and so went on a buying spree.

Our association president was quoted in an October 13th Des Moines Register article as saying" "I believe there are a lot of first-time home buyers out there trying to get their deal done before the deadline for the $8,000 tax credit," said Kurt Schade, president of the Des Moines Area Association of Realtors.

Some highlights from September:

  • 475 sales, or 52% of the total unit sales were for homes priced $100,000 to $200,000
  • Less than 40 homes were sold last for more than $300,000.
  • Unit sales increased to 913, from 772 the year prior.
  • Average sales prices fell to $151,589 from $167,366 the year prior.
  • Days on market increased to 100 from 96 the year prior.

9/2009
Total Sold		 9/2008
Total Sold		 Total Sold
% Change		 2009
YTD Sold		 2008
YTD Sold		 YTD Sold
% Change
ALTOONA 20 26 -23.1% 166 182 -8.8%
ANKENY 120 80 +50.0% 779 779 0%
CLIVE 20 21 -4.8% 163 177 -7.9%
DES MOINES 302 264 +14.4% 1,930 2,035 -5.2%
INDIANOLA 20 14 +42.9% 139 156 -10.9%
JOHNSTON 35 26 +34.6% 251 234 +7.3%
PLEASANT HILL 13 12 +8.3% 68 127 -46.5%
URBANDALE 52 53 -1.9% 431 487 -11.5%
WAUKEE 41 26 +57.7% 242 244 -0.8%
WEST DES MOINES 102 82 +24.4% 658 660 -0.3%
TOTAL - DMAAR MLS (all cities) 913 772 +18.3% 6,172 6,485 -4.8%

9/2009
Avg Sale Price		 9/2008
Avg Sale Price		 Avg Sale Price
% Change		 9/2009
Median Sale Price		 9/2008
Median Sale Price		 Median Sale Price
% Change
ALTOONA 163,799 174,532 -6.1% 156,000 174,500 -10.6%
ANKENY 183,241 211,773 -13.5% 173,750 175,625 -1.1%
CLIVE 185,765 280,517 -33.8% 166,750 251,500 -33.7%
DES MOINES 112,174 125,199 -10.4% 110,950 111,250 -0.3%
INDIANOLA 172,589 155,049 +11.3% 158,450 156,995 +0.9%
JOHNSTON 201,128 233,515 -13.9% 186,150 190,000 -2.0%
PLEASANT HILL 183,566 180,960 +1.4% 180,900 152,200 +18.9%
URBANDALE 192,701 203,901 -5.5% 185,282 192,000 -3.5%
WAUKEE 194,728 199,216 -2.3% 179,900 183,250 -1.8%
WEST DES MOINES 192,482 200,596 -4.0% 182,975 172,250 +6.2%
TOTAL - DMAAR MLS (all cities) 151,589 167,366 -9.4% 147,000 147,250 -0.2%

9/2009
Days on Market		 9/2008
Days on Market
ALTOONA 99.6 107.2 -7.1%
ANKENY 97.0 103.8 -6.6%
CLIVE 125.6 122.2 +2.8%
DES MOINES 84.7 81.5 +3.9%
INDIANOLA 148.1 164.1 -9.8%
JOHNSTON 88.2 137.8 -36.0%
PLEASANT HILL 80.3 59.8 +34.3%
URBANDALE 104.9 107.8 -2.7%
WAUKEE 122.4 125.9 -2.8%
WEST DES MOINES 108.5 80.0 +35.6%
TOTAL - DMAAR MLS (all cities) 100.0 96.0 +4.2%

Data courtesy of the Des Moines Area Association of Realtors

Posted Tuesday Oct 27