Iowa home sales and prices continued to fall in October, according to statistics provided by the Iowa Association of Realtors.
Realtors recorded 3,023 property sales in October, down 4 percent from a year ago when 3,141 homes sold.
The state’s median home price declined to $109,650 in October, down from $110,000 in September, and down 14.6 percent from $128,400 posted in October 2005.
In Des Moines, the state capital, there were 825 home sales recorded in October, down 9 percent from the same month last year when 905 homes sold. The city’s median home price during the period remained at $148,650.
Sales in the Greater Davenport area were off 14 percent from a year ago, registering 192 sales in October compared with 224 in October 2005. The area’s median home price was mostly flat during the period at $109,600.
Despite the overall cooling statewide, Cedar Rapids posted a 9 percent sales gain between October 2005 and October 2006, with closings rising from 330 to 359. The city’s median price also increased, gaining 4 percent to $128,500, although this was down from September’s median of $132,900.
The Iowa Association of Realtors is one of the state’s largest real estate professional organizations, representing more than 7,500 members and affiliates.
