des moines SINGLE-FAMILY HOME - MARCH 2 0 2 4
MONTHS OF INVENTORY 0.7 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 17% VS 2023
▲ 7% VS 2023
▲ 5% VS 2023
▼ 10% VS 2023
There were 20 single-family home listings in Des Moines in March, 35% below February and 5% higher than March 2023. March single-family home sales increased by 12% month-over-month, to 28, and were 10% below March 2023. The months of inventory for single-family home in Des Moines, at 0.7, reflected a sellers' market. The single-family home median price in March was $639,500, a 12% increase from February and 7% above March 2023. The average sold price was $723,357, 17% above last month and up 17% to March 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
28 20
31 19
17% 7% 17% -10% 5%
25 31
17% 12% -42% 12% -35%
$723,357 $639,500 0.7
$618,198 $570,000 1.2
$619,350 $600,000 0.61
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
34 29
42
32
31
31
30
31
28
28
27
27
28
25
29
35
26
20
19
21
21
21
21
30
20
20
19
14
13
$640K
$630K
$630K
$626K
$627K
$600K
$586K
$580K
$581K
$568K
$567K
$570K
$562K
Mar-23
Feb-24
Mar-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 4
BALANCED 4 - 6
BUYERS' MARKET 6+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
2.0
25
20
15
0.7
10
5
0
<$1M
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M
$6.0M+
MOI INVENTORY SALES
26 17 0.7
1 2 2.0
0 1 n/a
1 0 n/a
Copyright © April 10, 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 April 10, 2024. All data from Northwest Multiple Listing Service & rennie. 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. 2 1 ●
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