des moines CONDO - MAY 2 0 2 4
▶ MARKET SUMMARY
MONTHS OF INVENTORY 3.5
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 14%
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 2%
▲ 10%
0.0%
▼ 76%
There were 14 condo listings in Des Moines in May, 27% above April and no change to May 2023.
SELLERS' MARKET
VS 2023
VS 2023
VS 2023
VS 2023
VS 2023
May condo sales decreased by 43% month-over-month, to 4, and were 76% below May 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in Des Moines, at 3.5, reflected a sellers' market.
$391 $348,375 $353,250 3.5 4 14
17 14
325% -76% 0%
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$370 $371,786 $370,000 1.6 7 11
6% -6% -5% 123% -43% 27%
The condo median price in May was $353,250, a 5% decrease from April and 10% above May 2023.
$343 $340,362 $320,000 0.8
14% 2% 10%
The average sold price was $348,375, 6% below last month; the average PSF sale price was $391, up 6% to last month.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
64
63
17
16
17
17
14
14
13
12
12
12
14
11
11
8
10
7
9
6
8
5
33
5
4
4
4
4
3
$400K
$375K
$370K
$353K
$320K
$321K
$315K
$310K
$311K
$298K
$295K
$297K
$279K
May-23
Apr-24
May-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
7.0
4+ bdrms
6
5
4
3 bdrms
3
3
3
2
1.0
1.0
2 bdrms
8
1
0
1
<2 bdrms
<$300K $300K-399K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1M+ MOI INVENTORY SALES 1 7 7.0 2 2 1.0 1 1 1.0 0 3 n/a 0 1 n/a
3
Information and statistics derived from Northwest Multiple Listing Service. Copyright © June 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 June 10, 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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