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Des Moines Real Estate Sales Continue To Be Challenged By Weather

23 Days in May Saw A Trace or More of Precipitation

According to the National Weather Service, for the month of May, the Des Moines metro experienced only 8 days without rain.

The average rainfall amount for May is 4 3/4 inches but this year we got exactly double that amount at 9.5 inches. The daily temperatures were almost 5 degrees lower from the norm, making May not only wet, but cooler too.

As a result, the Des Moines Multiple Listing Service is showing the effects of a tough weather month. While home for sale inventory continues to rise, much of this is due to a slower pace of accepted offers. Days on Market this month is slightly longer and Months of Inventory is on the rise compared to this time last year. 1,557 homes saw price reductions this past month signaling that sellers are making adjustments as well. One bright spot is the overall Median Sale Price is up by almost 2 1/2% over May of 2018, but when you look at the source of those gains, they are predominantly from Single Family and Condo/Townhome Resales. New construction is essentially flat and many builders are offering upgrade incentives.

One statistic that hasn’t changed this month is percentage of Back on Markets. For the second month in a row, 18% of sales fell through and came back on the market.

View the full resolution image by clicking on any of the graphics.

May Metro Single Family Resale Data

May Metro Condo/Townhome Resale Data

May Metro Single Family New Construction Data

May Metro Condo/Townhome New Construction Data

Click This Link for the 2018 Des Moines Real Estate Year End Market Recap

~Les Sulgrove, Vice President

If you are interested in selling your home or purchasing a home, give me a call! I will help you determine your best strategy based on your local market data.

About Les Sulgrove

Les is an Iowa native born in Des Moines and raised in the southwest Iowa town of Bridgewater. He has been a resident of Des Moines since 1982 and has been married to his wife Linda for over 35 years. Together they have 3 grown children, 7 grandchildren and make their home on Des Moines south side. He has been a licensed REALTOR® since 1990 and is Vice President at VIA Group, REALTORS®. Les is the 2011 Past President of the Des Moines Area Association of REALTORS® (DMAAR) and received the award of Salesperson of the Year by DMAAR in 2007 for his involvement and service to the Association. Additionally, he is active at the Iowa Association of REALTORS® and serves on local, state and national committees. He also owns and operates the national technology networking group CyberProfessionals. This group of real estate professionals meets twice annually across the United States to learn from each other and share new marketing ideas with heavy emphasis on current and future technologies and their use in the real estate business. Les’ hobbies include golf, photography and sarcastic humor. He and Linda spend many Saturday mornings from Spring to Fall at the Des Moines Downtown Farmers Market. He enjoys spoiling his grandchildren at every opportunity.

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