September 2011 Home sales statistic for the greater Des Moines area

September 2011's home sales for the greater Des Moines area including Ankeny, Adel, Bondurant, Carlisle, Clive Cumming, Indianola, Johnston, Urbandale, West Des Moines, Windsor Heights rocketed 36% ahead of last year's and were up approximately 5% month on month as well.

The average sales price remained essentially flat at $169,920, a .4% rise from the prior year. Days on market remained eseentially unchanged year on year, but fell eight days from 109 in August to 101 for the month of September.

Sales in September compared to the prior year were still skewed by the effect of the Home Buyer Tax Credit which expired May 1 2010 but allowed buyers to close by September 30th 2010. October 2011 will mark the first month whereby meaningful comparisons can be made to the year prior. The Des Moines MLS had 5,375 homes on the market in September, 159 homes fewer than in August and 489 units fewer than a year earlier.

The top selling price categories were as follows:

1. $200,000 - $249,900 102 units
2. $140,000 - $159,900 86 units
3. $120,000 - $139,900 74 units
4. $160,000 - $179,900 68 units

The top means of financing used were:

1. Conventional 344 units
2. FHA 199 units
3. Cash 168 units
4. VA 33

24 homes sold priced $400,000 or higher out of an approximate inventory of 360 units, indicating a 15 months supply.

134 condo-townhome units sold out of an approximate inventory of 960, indicating a seven months supply.

Data provided courtesy of the Des Moines Area Association of REALTORS covering the period 09/01/11~09/30/11. All rights reserved.