The Iowa housing market showed signs of a spring resurgence in April, with significant year-over-year increases in inventory and active listings pointing to a potentially strong summer for homebuyers and sellers alike.
Newly active single-family home listings rose 10.7% to 4,667, while total active inventory jumped 24.5% to 7,969 compared to April 2024, according to the Iowa Association of REALTORS.
“Iowa’s housing market looks like it might be making its post-pandemic comeback when it comes to available inventory,” Iowa REALTORS president Travis Bushaw said in a statement. “Even with the additional inventory, the median sales price is still climbing, and surprisingly, the median days on the market is actually down from last month.”
The median sales price increased 4% from one year ago to $239,500, while median days on market fell to 11 days, down from 12 in March. Homes statewide continue to sell quickly, with most listings under contract in less than two weeks, Mr. Bushaw said.
Closed sales for single-family homes declined 2.6% year-over-year to 2,769 but rose 13% from the 2,453 homes sold in March.
The condo-townhome segment of the market slowed in sales activity but saw gains in inventory. Closed sales fell 13.5% to 358 compared to April 2024, though they remained largely flat from March’s total. New condo-townhome listings increased 11.3% to 672, with total active inventory up 26.5% to 1,756. Median days on market dropped to 20 from 27 in March.
Les Sulgrove, Iowa REALTORS statewide housing analyst, said the Iowa housing market report for April shows the state is gaining traction despite a slow start.
“While the beginning of the spring market may look negative in a lot of measurements, it’s playing catch-up and we’re expecting to see more positives in the May and June markets,” Mr. Sulgrove said.
Regional data reflected statewide trends. The East Central Iowa Association of REALTORS reported a median of just five days on market, while the Greater Mason City Board of REALTORS noted that seasonal trends, particularly around lakefront properties, are likely to drive activity in late spring.
