Des Moines Real Estate Blog

Your Economist of Choice, Your Realtor of Choice

  • Adam Van Lin, Realtor
    Burnett Realty
    10200 Hickman Rd. #100
    Clive, Iowa 50325
    Cell 515.344.1068
    Fax 515.331.3401
    Licensed in Iowa

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June Housing Prices

Posted by adamvanlin on July 14, 2011

Housing prices in Des Moines took a huge jump up in June from the previous month.  Median residential home prices rose to $136,113 from $123,833 in May, up about 10%.  The June number was a 2% decrease from the June 2010 price of $138,903.  These numbers differ from the prices released by the Des Moines Area Association of Realtors because I use the 3 month moving average similar to the national Case-Schiller index.  The rise in month over month prices could be attributed to seasonality.  Generally prices increase about 10% in the Des Moines area from the cooler months to the warmer months, but usually this doesn’t happen in just one month.  It’ll be interesting to see if we can maintain this momentum throughout the summer months.  Summer is usually never a good time to buy, but always a good time to sell.  Wants, needs, emotions, employment, among other things, also play into that decision.

Also note on the secondary axis that housing prices for the past 12 months have averaged a drop of about 1% in the Des Moines area.  Housing prices are still going down, but we’ll be looking at some other data points in the near future that give us hope this trend may be reversing.

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