des moines CONDO - OCTOBER 2 0 2 4
MONTHS OF INVENTORY 1.7 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 1.5% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 21% VS 2023
▲ 13% VS 2023
▲ 200% VS 2023
▼ 12% VS 2023
There were 15 condo listings in Des Moines in October, 21% below September and 12% lower than October 2023. October condo sales decreased by 10% month-over-month, to 9, and were 200% above October 2023. The months of inventory for condos in Des Moines, at 1.7, reflected a sellers' market. The condo median price in October was $315,000, a 20% decrease from September and 13% above October 2023. The average sold price was $353,422, 34% below last month; the average PSF sale price was $347, down 16% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change -16% -34% -20% -12% -10% -21%
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$347 $353,422 $315,000 1.7 9 15
$342 $291,332 $279,000 5.7 3 17
1.5% 21% 13% -71% 200% -12%
10 19
$412 $532,810 $393,550 1.9
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
24
106
105
21
19
17
15
15
15
15
15
15
13
10
10
12
12
9
62
6
5
8
5
5
3
4
4
4
2
$394K
$375K
$368K
$353K
$326K
$321K
$315K
$310K
$311K
$297K
$290K
$282K
$279K
Oct-23
Sep-24
Oct-24
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET <4
BALANCED 4 - 6
BUYERS' MARKET 6+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
7
3.5
4+ bdrms
6
5
1 1
4
3 bdrms
1.3
1.0
3
0.5
5
2
2 bdrms
11
1
0
3 3
<2 bdrms
<$300K $300K-399K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1M+ MOI INVENTORY SALES
4 5 1.3
2 7 3.5
2 1 0.5
1 1 1.0
0 1 n/a
Information and statistics derived from Northwest Multiple Listing Service. Copyright © 2024 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of November 12, 2024. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 24 ●
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