des moines TOWNHOME - MARCH 2 0 2 4
MONTHS OF INVENTORY 2.0 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 18% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 96% VS 2023
▲ 69% VS 2023
▲ 233% VS 2023
▲ 67% VS 2023
There were 10 townhome listings in Des Moines in March, 400% above February and 233% higher than March 2023. March townhome sales decreased by 44% month-over-month, to 5, and were 67% above March 2023. The months of inventory for townhomes in Des Moines, at 2.0, reflected a sellers' market. The townhome median price in March was $389,000, a 28% decrease from February and 69% above March 2023. The average sold price was $443,329, 19% below last month; the average PSF sale price was $333, up 7% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
% Change
No.
No.
% Change
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$333 $443,329 $389,000 2.0 5 10
3 3
18% 96% 69% 100% 67% 233%
9 2
7% -19% -29% 800% -44% 400%
$283 $226,667 $230,000 1.00
$311 $547,600 $546,000 0.2
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
14
139
13
10
10
9
9
9
9
10
8
9
8
8
5
5
6
5
5
5
5
3 3
72
4
2
1
$595K
38
$546K
$530K
$518K
$449K
$438K
$400K
$389K
$385K
$365K
$363K
$350K
$230K
Mar-23
Feb-24
Mar-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.
2.3
1 1
8
4+ bdrms
6
3 bdrms
2
4
4
2 bdrms
2
7
0
<2 bdrms
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+ MOI INVENTORY SALES
4 9 2.3
1 0 n/a
0 1 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 2 ●
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